Jiming Huang / Blog
Pivot (invalidation): 5.5470 Our preference Short positions below 5.5470 with targets at 5.5040 & 5.4810 in extension. Alternative scenario Above 5.5470 look for further upside with 5.5720 & 5.5940 as targets...
Pivot (invalidation): 0.7180 Our preference Long positions above 0.7180 with targets at 0.7215 & 0.7240 in extension. Alternative scenario Below 0.7180 look for further downside with 0.7160 & 0.7135 as targets...
Pivot (invalidation): 1.3115 Our preference Short positions below 1.3115 with targets at 1.3080 & 1.3065 in extension. Alternative scenario Above 1.3115 look for further upside with 1.3130 & 1.3145 as targets...
Pivot (invalidation): 1.0040 Our preference Short positions below 1.0040 with targets at 1.0000 & 0.9980 in extension. Alternative scenario Above 1.0040 look for further upside with 1.0060 & 1.0080 as targets...
Pivot (invalidation): 112.85 Our preference Short positions below 112.85 with targets at 112.40 & 112.15 in extension. Alternative scenario Above 112.85 look for further upside with 113.05 & 113.35 as targets...
Pivot (invalidation): 1.2950 Our preference Long positions above 1.2950 with targets at 1.3050 & 1.3090 in extension. Alternative scenario Below 1.2950 look for further downside with 1.2905 & 1.2855 as targets...
Pivot (invalidation): 1.1385 Our preference Long positions above 1.1385 with targets at 1.1425 & 1.1435 in extension. Alternative scenario Below 1.1385 look for further downside with 1.1365 & 1.1350 as targets...
There are reasons for optimism and for pessimism. On the plus side, GDP grew 3.2% in Q2, well above its recent average. But growth seems to be slowing, and the risks of a trade war are weighing on exports...
USD has been broadly weaker against a stronger sterling. UK Brexit Minister Dominic Raab says he can reach a deal by 21 November 21, but that seems likely to be on EU terms. We remain negative on “soft” Brexit developments and view the pound’s recovery as an opportunity to short...