Jiming Huang / Perfil

Pivot (invalidation): 5.7000 Our preference Long positions above 5.7000 with targets at 5.7400 & 5.7540 in extension. Alternative scenario Below 5.7000 look for further downside with 5.6770 & 5.6600 as targets...

Pivot (invalidation): 0.7005 Our preference Short positions below 0.7005 with targets at 0.6965 & 0.6945 in extension. Alternative scenario Above 0.7005 look for further upside with 0.7020 & 0.7035 as targets...

Pivot (invalidation): 1.3145 Our preference Short positions below 1.3145 with targets at 1.3115 & 1.3100 in extension. Alternative scenario Above 1.3145 look for further upside with 1.3165 & 1.3185 as targets...

Pivot (invalidation): 0.9845 Our preference Long positions above 0.9845 with targets at 0.9875 & 0.9890 in extension. Alternative scenario Below 0.9845 look for further downside with 0.9825 & 0.9800 as targets...

Pivot (invalidation): 108.00 Our preference Long positions above 108.00 with targets at 108.35 & 108.60 in extension. Alternative scenario Below 108.00 look for further downside with 107.80 & 107.60 as targets...

Pivot (invalidation): 1.2455 Our preference Short positions below 1.2455 with targets at 1.2415 & 1.2400 in extension. Alternative scenario Above 1.2455 look for further upside with 1.2480 & 1.2500 as targets...

Pivot (invalidation): 1.1165 Our preference Short positions below 1.1165 with targets at 1.1120 & 1.1105 in extension. Alternative scenario Above 1.1165 look for further upside with 1.1185 & 1.1205 as targets...

This Thursday ECBs governing council will signal a willingness to ease further. However, there are numerous agreements for a proactive 10bp to 20bp deposit rate cut. We have still expected the first cut of 10bp in September...

News that policymakers in the US have struck a deal to increase the $22tn debt ceiling was viewed as a risk positive by equity markets. The deal reduced the risk of a default and increased the likelihood of fiscal stimulus...

Pivot (invalidation): 55.85 Our preference Long positions above 55.85 with targets at 56.60 & 57.00 in extension. Alternative scenario Below 55.85 look for further downside with 55.15 & 54.85 as targets...

Pivot (invalidation): 16.3700 Our preference Short positions below 16.3700 with targets at 16.1600 & 16.0400 in extension. Alternative scenario Above 16.3700 look for further upside with 16.5000 & 16.5800 as targets...

Pivot (invalidation): 1428.50 Our preference Short positions below 1428.50 with targets at 1415.00 & 1407.00 in extension. Alternative scenario Above 1428.50 look for further upside with 1435.00 & 1441.00 as targets...

Pivot (invalidation): 2974.50 Our preference Long positions above 2974.50 with targets at 2990.00 & 3000.00 in extension. Alternative scenario Below 2974.50 look for further downside with 2963.75 & 2956.00 as targets...

Pivot (invalidation): 12225.00 Our preference Long positions above 12225.00 with targets at 12340.00 & 12400.00 in extension. Alternative scenario Below 12225.00 look for further downside with 12160.00 & 12100.00 as targets...

Pivot (invalidation): 5.6900 Our preference Short positions below 5.6900 with targets at 5.6600 & 5.6310 in extension. Alternative scenario Above 5.6900 look for further upside with 5.7070 & 5.7240 as targets...

Pivot (invalidation): 0.7040 Our preference Short positions below 0.7040 with targets at 0.7015 & 0.7000 in extension. Alternative scenario Above 0.7040 look for further upside with 0.7055 & 0.7065 as targets...

Pivot (invalidation): 1.3105 Our preference Long positions above 1.3105 with targets at 1.3135 & 1.3155 in extension. Alternative scenario Below 1.3105 look for further downside with 1.3090 & 1.3070 as targets...

Pivot (invalidation): 0.9805 Our preference Long positions above 0.9805 with targets at 0.9860 & 0.9875 in extension. Alternative scenario Below 0.9805 look for further downside with 0.9780 & 0.9760 as targets...

Pivot (invalidation): 107.80 Our preference Long positions above 107.80 with targets at 108.10 & 108.35 in extension. Alternative scenario Below 107.80 look for further downside with 107.65 & 107.50 as targets...

Pivot (invalidation): 1.2485 Our preference Short positions below 1.2485 with targets at 1.2455 & 1.2435 in extension. Alternative scenario Above 1.2485 look for further upside with 1.2500 & 1.2520 as targets...