Markets Disappointing April US PMI’s triggered some short covering in US Treasuries. The composite PMI declined from 52.1 to 50.9 (vs 52 consensus) with both manufacturing (49.9 from 51.9) and services (50.9 from 51.7) contributing. Read more…
Short Term Elliott Wave view on FTSE suggests that rally from 8.18.2023 low is unfolding as a 5 waves impulse. Up from 8.18.2023 low, wave 1 ended at 7745.82 and pullback in wave 2 ended Read more…
Tesla’s Q1 results didn’t look good at all. The revenue dropped 9% – the first revenue drop in four years – and net income plunged by 55% compared to the same time last year. And Read more…
In focus today In Germany we await Ifo data for April. The current assessment of the economy remains weak, but expectations have risen lately so it will be important to follow if we finally see Read more…
Daily Pivots: (S1) 1.0656; (P) 1.0684; (R1) 1.0729; More… Outlook in EUR/USD is unchanged and intraday bias stays neutral first. Strong resistance should be seen from 1.0723 to complete the corrective rise from 1.0601. Break Read more…
Daily Pivots: (S1) 1.2368; (P) 1.2414; (R1) 1.2495; More… Intraday bias in GBP/USD stays neutral at this point. While recovery from 1.2298 might extend higher, upside should be limited by 1.2538 support turned resistance. On Read more…
Daily Pivots: (S1) 154.63; (P) 154.76; (R1) 154.95; More… Intraday bias in USD/JPY stays mildly on the upside for further rally. However, considering bearish divergence condition in 4H MACD, strong resistance should be seen from Read more…
Daily Pivots: (S1) 0.9093; (P) 0.9113; (R1) 0.9138; More…. No change in USD/CHF’s outlook as consolidation form 0.9151 is extending. Intraday bias remains neutral for the moment. Further rally is expected as long as 0.8996 Read more…
Daily Pivots: (S1) 1.3640; (P) 1.3679; (R1) 1.3701; More… Intraday bias in USD/CAD remains neutral for the moment with focus on 1.3660 support. Strong rebound from current level will retain near term bullishness. Break of Read more…
Daily Pivots: (S1) 0.6455; (P) 0.6473; (R1) 0.6504; More… AUD/USD’s strong break of 0.6480 support turned resistance confirms short term bottoming at 0.6361, and intraday bias is back on the upside. Sustained break of 55 Read more…