Hey traders, GDP came in at 1.9% behind expected 2.1%. The kiwi has been strong and this pair is in an upward channel. I am long from here toward the 1.272 extension. Cheers
Over supply from the auctions should keep treasury yields rising to test the high @ 2.65 on the 10yr. Bills and 7yr being auctioned tomorrow should continue to fuel the Dow higher. $DXY might follow yields to 102 forming a right shoulder depending on the data tomorrow and Friday.
Strong US 3Q GDP growth on strong jobs data along with weak Australian fundamentals weighing in may send the Aussie lower against the greenback. 0.7500 level the likely support zone for the AUD/USD sell-off.
Brexit fears impact on consumer and business confidence likely to give some shocks to anticipated GDP growth. Although this has mostly been priced in, an announcement of weaker GDP will send the Pound lower to the 1.2000 level.
Expect range bound conditions to last until the GDP report this coming friday, which is likey to show strong third quarter growth from strong jobs data in August. Dollar rally will ensue that will retest the yearly high as investors get ready for a december rate hike. Thereafter a strong pull-back is expected.
GBP/JPY has formed a head and shoulder pattern on the 1H and 4H charts, indicating that a top has been made and price will carry on its retrace from the last 2 weeks of bullish gains. Traders should wait for a breakout of the pennant/flag that contains this pattern. Wednesday - (Jul) Manufacturing Production, BoE Gov Mark Carney Speaks and BoE reports on current...
AUDJPY Daily – Since late November 2015, AUDJPY has been trading within a downwards channel. As we head towards the final quarter of 2016, investors will be focussing on the decisions of the Reserve Bank of Australia and the Bank of Japan who could both cut rates even further. Earlier this week, the RBA chose to keep rates unchanged but low inflation rates and a...
Its been very evident that even the strongest bears went positive since BREXIT on Precious Metals for intermittent rally or pullback from the supercycles as we call. Everybody would agree that 1300-1310 would serve as strong demand area and resistance from previous tops especially March 2015 highs. The breach woud open the gate to 12XX and bear would take thier...
Due to the increase in Debt/GDP of the world's biggest economic markets, the BRICS, and specially Brazil, that is impeaching its left wing corrupt president, are good options for those that want to escape from the bail ins and outs of the european market and from the chinese bubble. Obama's economic policy is also putting US in a very delicate situation. In...
ECB nowotny reiterated senior member official sentiments regarding the situation with Italian banks unsurprisingly saying people "Should not over dramatise situation regarding Italian Banks". He also hawkish said that the Brexit impact forecasted on the EUROZONE economy would be less than the IMF forecasts. Perhaps the most important sentiment though was that...
Following today's Service/ Manufacturing PMI miss (worst contraction in 88 months - since 2009) the Sterling market has come under significant pressure as BOE rate cut expectations increase with OIS rates markets pricing a 94% chance of a 4th Aug cut vs 85% before the PMI's were released. Further, the PMI misses has attracted attention from UK Politicians e.g....
Taking a long position on this pair based on the following reasons: - Break and retest of key 0.70 level - 0.5 fib level held strong - Double bottom Let's see how this turns out!
Failed to maintain support, Failed to break resistance (triple top)
Possible FOMC Meeting Situation - 27th April 2016
Caddy approaching serious technical support zone (1,33-1,34) -200 dma + trendline Need to watch for crude oil price as USDCAD and WTI intraday correlation is very strong. Also waiting for bullish reversal candlestick formation, not opening position without seeing that. Fundamentally both US and Canadian GDP figures outperformed, inflation momentum is picking...
My next bullish target is 1.48000, given we see the right market conditions. I'm anticipating an overnight retracement and possible consolidation, followed by a reversal within the green zone drawn around the 1.4520 area, with a rally up to 1.48000.
RE: Global Macro Update Regarding European Union, #ECB, and UK The way the #Euro is strengthening relative to the Pound, and particularly the way the #CABLE $GBPUSD cross-rate is falling out of bed is about to unleash shock-waves of negative #sentiment through the European Euro STOXX Equity Markets $FEZ. According to RunningAlpha.com Capital Markets Intelligence,...
However, only once did we not break out off RSI bottom signal