Jiming Huang / Blog
Pivot (invalidation): 5.2100 Our preference Short positions below 5.2100 with targets at 5.1570 & 5.1360 in extension. Alternative scenario Above 5.2100 look for further upside with 5.2420 & 5.2730 as targets...
Pivot (invalidation): 0.7275 Our preference Short positions below 0.7275 with targets at 0.7225 & 0.7205 in extension. Alternative scenario Above 0.7275 look for further upside with 0.7295 & 0.7325 as targets...
Pivot (invalidation): 1.3160 Our preference Short positions below 1.3160 with targets at 1.3115 & 1.3085 in extension. Alternative scenario Above 1.3160 look for further upside with 1.3185 & 1.3210 as targets...
Pivot (invalidation): 0.9920 Our preference Long positions above 0.9920 with targets at 0.9955 & 0.9975 in extension. Alternative scenario Below 0.9920 look for further downside with 0.9900 & 0.9885 as targets...
Pivot (invalidation): 108.65 Our preference Long positions above 108.65 with targets at 109.05 & 109.20 in extension. Alternative scenario Below 108.65 look for further downside with 108.50 & 108.30 as targets...
Pivot (invalidation): 1.3120 Our preference Short positions below 1.3120 with targets at 1.3075 & 1.3055 in extension. Alternative scenario Above 1.3120 look for further upside with 1.3160 & 1.3200 as targets...
Pivot (invalidation): 1.1475 Our preference Short positions below 1.1475 with targets at 1.1410 & 1.1390 in extension. Alternative scenario Above 1.1475 look for further upside with 1.1495 & 1.1515 as targets...
USD/CNY dropped 2.20% since the beginning of the year on US-China trade optimism, USD softness and China’s manufacturing rebound. However, the USD/CNY could rapidly turn north, as a trade deal with the US, China’s by far largest trade partner, would significantly reduce its trade surplus...
Given yesterday’s decision of the US Federal Reserve not to raise interest rates, US dollar weakness for 2019 is on track. The Fed decelerated monetary policy and its tightening path, and it gave a very strong signal that interest rate cycle is finished...