EURGBP Coiling Up In A Bullish Configuration Ahead Of U.K Services PMI
Short-term technical outlook on EUR/GBP Key Levels (1 to 3 days) – advertisement – Pivot (key support): 0.8870 Resistances: 0.9020 & 0.9060/9100 Next support: 0.8800/8785 Directional Bias (1 to 3 days) Bullish bias in any dips above the 0.8870 short-term...
AUD/USD Hits Lowest Level in a Decade – More to Come?
For many traders, yesterday’s abysmal ISM Manufacturing PMI reading led to a “sell first, ask questions later” response in risk assets. Everything from global equities to oil to growth-sensitive currencies have fallen sharply as markets increase bets on a coordinated...
ASX200 Mean Reversion Could (Finally) Be Underway
We’ve been monitoring the potential for an inflection point on the ASX200 for the past couple of weeks and it appears cracks are now appearing at recent highs. There’s no denying it remains within a long-term uptrend trend on the...
Gold Spot Bullish Bias Above 1474.00
Pivot (invalidation): 1474.00 Our preference Long positions above 1474.00 with targets at 1482.00 & 1487.00 in extension. Alternative scenario Below 1474.00 look for further downside with 1470.00 & 1464.00 as targets. – advertisement – Comment Even though a continuation of...
Weaker ISM is Just What the DXY Needed
The US ISM Purchasing Managers Index (PMI) headline dropped from 49.1 in August to 47.8 in September, versus an expectation of 50.1! This is the worst ISM data going back 10 years. All components were lower as well. DXY has...
WTI OIL Outlook: WTI is Consolidating after 4% Fall on Monday; Outlook Remains Negative
WTI oil price is consolidating above new 2 1/2 week low at $53.93, posted after nearly 4% fall on Monday. Oil price came under increased pressure after strong upside rejection (16 Oct spike to $63.12 after attack on Saudi oil...
Market Morning Briefing: Euro Is Holding Above 1.09
STOCKS Equities ended a little subdued on Friday, in line with expectation, and might even dip some more in the early part of the week. That said, weaker Gold and Crude could be positive for Equities. Accordingly, the Dow (26820.25,...
CAD/JPY May Be Ready for its Leg Lower
CAD/JPY has been in a downtrend for almost a year now, after putting in a high of 89.23 back on October 4th of last year. Will this move continue lower, or will it break out and move higher? Today’s price...
EUR/USD Outlook: Bears Face Headwinds from 1.0900 Zone and May Hold for Consolidation Before Resuming
The Euro bounces from new multi-month low at 1.0904 (the lowest since early May 2017) on Friday, as bears faced headwinds from 1.0900 (round-figure support) after key level at 1.0926 (3/12 Sep double-bottom) was taken out on Thursday. Better than...
DJIA Eyes New Highs as Stocks Absorb Flurry of Negative News
The major US indices have been spending several days in consolidation near their recent highs. As they haven’t dropped more materially on the back of what should have been bearish news (e.g. Trump’s impeachment inquiry; weak macro pointers from Germany...
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