The Swiss franc bounced after SNB Chairman Thomas Jordan insisted on pursuing the tightening. Following a break above the double top at 0.9870, a bullish MA cross on the daily chart indicates an acceleration to Read more…
The breakout on USD/JPY occurred at the Hong Kong open which took USD/JPY to its highest level since September 1998. It’s a breakout the MOF (Ministry of Finance) did not want to see, as the Read more…
We are only Wednesday, and the Bank of England (BoE) already intervened twice this week, to cool down the unbearable negative pressure on the British sovereign bonds. Monday, the BoE announced it would buy more Read more…
Market movers today This morning we get euro area industrial production for August. After a big drop in July of 2.3% m/m it is expected to recover somewhat in the August reading. US PPI for Read more…
UK GDP contracted -0.3% mom in August, worst than expectation of 0.1% mom expansion. In the three months to August, compared with the three months, GDP contracted by -0.3%, with -1.5% fall in production, -0.1% Read more…
Daily Pivots: (S1) 158.96; (P) 160.82; (R1) 161.90; More… Intraday bias in GBP/JPY remains neutral and outlook is unchanged. On the downside, below 159.41 minor support will turn bias back to the downside for 148.93 Read more…
Daily Pivots: (S1) 140.95; (P) 141.58; (R1) 142.14; More…. Intraday bias in EUR/JPY remains neutral and outlook is unchanged. On the downside, break of 140.77 minor support will turn bias back to the downside, to Read more…
Daily Pivots: (S1) 0.8758; (P) 0.8809; (R1) 0.8894; More… EUR/GBP’s breach of 0.8848 minor resistance argues that pull back from 0.9267 might have completed at 0.8647 already, supported above 55 day EMA. Intraday bias is Read more…
Daily Pivots: (S1) 1.5403; (P) 1.5461; (R1) 1.5525; More… Intraday bias in EUR/AUD remains on the upside at this point. Current rally from 1.4281 should target 161.8% projection of 1.4281 to 1.4965 from 1.4716 at Read more…
Daily Pivots: (S1) 0.9656; (P) 0.9686; (R1) 0.9703; More…. Intraday bias in EUR/CHF remains neutral at this point. On the upside, above 0.9798 will resume the rebound to 0.9864 resistance. Firm break there will solidify Read more…