Jiming Huang / Blog
Pivot (invalidation): 111.60 Our preference Long positions above 111.60 with targets at 112.00 & 112.25 in extension. Alternative scenario Below 111.60 look for further downside with 111.30 & 111.05 as targets...
Pivot (invalidation): 1.3190 Our preference Short positions below 1.3190 with targets at 1.3140 & 1.3105 in extension. Alternative scenario Above 1.3190 look for further upside with 1.3225 & 1.3255 as targets...
Pivot (invalidation): 1.1350 Our preference Short positions below 1.1350 with targets at 1.1310 & 1.1290 in extension. Alternative scenario Above 1.1350 look for further upside with 1.1370 & 1.1390 as targets...
The pound has staged a decent rally against the USD and EUR in the past weeks, and 1-month implied volatility has fallen further. But uncertainty on Brexit is extreme. Extension of Article 50, thus reducing the likelihood for UK crashing out of EU, is questionable...
Hurdles remain, but it looks like a Sino-American trade deal is on the way. China is offering reduction of restrictions, including tariffs on food, chemical and autos while the USA is reconsidering its sanctions on Chinese products in place since last year...
Pivot (invalidation): 56.45 Our preference Short positions below 56.45 with targets at 55.55 & 55.25 in extension. Alternative scenario Above 56.45 look for further upside with 56.85 & 57.25 as targets...
Pivot (invalidation): 15.3900 Our preference Short positions below 15.3900 with targets at 15.1100 & 14.9200 in extension. Alternative scenario Above 15.3900 look for further upside with 15.5000 & 15.6200 as targets...
Pivot (invalidation): 1304.00 Our preference Short positions below 1304.00 with targets at 1290.00 & 1286.00 in extension. Alternative scenario Above 1304.00 look for further upside with 1312.50 & 1317.00 as targets...
Pivot (invalidation): 2782.00 Our preference Long positions above 2782.00 with targets at 2816.50 & 2830.00 in extension. Alternative scenario Below 2782.00 look for further downside with 2764.00 & 2750.00 as targets...