Jiming Huang / Blog
At record highs, USD/INR is trading sideways since its rise above 70 in mid-August, easing back to 69.91 last Friday as US Federal Reserve Chairman Jerome Powell confirmed a “slow and gradual” pace of rate hikes, thus softening the USD...
Two concerns pose downside risk to the optimistic outlook of the US Federal Reserve Bank. First is trade tension. America imposed tariffs on $16 billion of Chinese imports and China quickly retaliated. Yet a breakthrough in NAFTA negotiation between Mexico and the US seems likely...
Pivot (invalidation): 6630 Our preference Long positions above 6630 with targets at 6760 & 6805 in extension. Alternative scenario Below 6630 look for further downside with 6585 & 6485 as targets...
Pivot (invalidation): 68.90 Our preference Short positions below 68.90 with targets at 68.25 & 67.95 in extension. Alternative scenario Above 68.90 look for further upside with 69.30 & 69.65 as targets...
Pivot (invalidation): 14.7100 Our preference Long positions above 14.7100 with targets at 14.9800 & 15.0700 in extension. Alternative scenario Below 14.7100 look for further downside with 14.6000 & 14.5000 as targets...
Pivot (invalidation): 1201.50 Our preference Long positions above 1201.50 with targets at 1213.00 & 1217.00 in extension. Alternative scenario Below 1201.50 look for further downside with 1196.50 & 1192.50 as targets...
Pivot (invalidation): 1201.50 Our preference Long positions above 1201.50 with targets at 1213.00 & 1217.00 in extension. Alternative scenario Below 1201.50 look for further downside with 1196.50 & 1192.50 as targets...
Pivot (invalidation): 1.1410 Our preference Long positions above 1.1410 with targets at 1.1445 & 1.1460 in extension. Alternative scenario Below 1.1410 look for further downside with 1.1390 & 1.1370 as targets...
Pivot (invalidation): 0.9030 Our preference Long positions above 0.9030 with targets at 0.9070 & 0.9095 in extension. Alternative scenario Below 0.9030 look for further downside with 0.9000 & 0.8985 as targets...