Jiming Huang / Blog
As US election risk fades, so does risk aversion. However, the risk rally has been weak. High beta, trade sensitive emerging market currencies INR, ZAR, TRY and CLP have seen heavy buying in the past week...
EUR/USD is expected to expand further, approaching the 1.1535 range, as German industrial production continues to grow at a constant pace, 0.80% annually and 0.20% monthly in September, strongly supported by the automotive sector. Factory orders continued to progress, with a monthly rise of 0...
Reaction to the US elections was limited but expected. The Shanghai Composite was down 0.68%: Trump is free to continue his trade war. USD was lower, as combative US politics will head toward gridlock and disorder. Crude prices fell to USD 61...
Pivot (invalidation): 62.50 Our preference Short positions below 62.50 with targets at 61.30 & 60.70 in extension. Alternative scenario Above 62.50 look for further upside with 63.30 & 63.90 as targets...
Pivot (invalidation): 14.6200 Our preference Short positions below 14.6200 with targets at 14.4500 & 14.3600 in extension. Alternative scenario Above 14.6200 look for further upside with 14.7100 & 14.8200 as targets...
Pivot (invalidation): 1231.00 Our preference Short positions below 1231.00 with targets at 1223.00 & 1220.00 in extension. Alternative scenario Above 1231.00 look for further upside with 1233.00 & 1236.50 as targets...
Pivot (invalidation): 2721.50 Our preference Long positions above 2721.50 with targets at 2775.00 & 2798.00 in extension. Alternative scenario Below 2721.50 look for further downside with 2700.00 & 2675.00 as targets...
Pivot (invalidation): 11440.00 Our preference Long positions above 11440.00 with targets at 11570.00 & 11640.00 in extension. Alternative scenario Below 11440.00 look for further downside with 11370.00 & 11288.00 as targets...
Pivot (invalidation): 5.4000 Our preference Short positions below 5.4000 with targets at 5.2970 & 5.2450 in extension. Alternative scenario Above 5.4000 look for further upside with 5.4760 & 5.5280 as targets...