SPX shows a 5 swing sequence from July 27, 2023 high favoring further downside. 5 swing is an incomplete bearish sequence and the Index therefore likely extends lower. The drop from July 27 high unfolded Read more…
Markets The Bank of England’s ‘intrinsically dovish hold’ sharply contrasted with broader market trends since the Fed’s message that interest rates will be ‘higher for (very much) longer’. In the close 5-4 vote, governor Bailey’s Read more…
Daily Pivots: (S1) 180.43; (P) 181.80; (R1) 182.79; More… Intraday bias in GBP/JPY is turned neutral first as it recovered after dipping to 180.78. Further decline is expected as long as 183.34 support turned resistance Read more…
Daily Pivots: (S1) 156.86; (P) 157.50; (R1) 157.96; More…. Intraday bias in EUR/JPY stays neutral for the moment. Risk will be mildly on the downside as long as 158.64 resistance holds. Break of 156.57 support, Read more…
Daily Pivots: (S1) 0.8634; (P) 0.8665; (R1) 0.8703; More…. Immediate focus is now on 0.8700 resistance in EUR/GBP. Rejection by this resistance will maintain bearish outlook that larger down trend is not over. Break of Read more…
Daily Pivots: (S1) 1.6536; (P) 1.6594; (R1) 1.6677; More… Intraday bias in EUR/AUD stays neutral for the moment and consolidation from 1.6452 could extend further. But further decline is expected with 1.6793 resistance intact. Fall Read more…
Daily Pivots: (S1) 0.9579; (P) 0.9628; (R1) 0.9693; More… Intraday bias in EUR/CHF stays on the upside for the moment. Rise form 0.9513 short term bottom would target 38.2% retracement of 1.0095 to 0.9513 at Read more…
Daily Pivots: (S1) 0.6382; (P) 0.6419; (R1) 0.6453; More… Intraday bias in AUD/USD stays neutral as range trading continues. Outlook stays bearish with 0.6520 resistance intact. On the downside, break of 0.6356 will resume larger Read more…
Daily Pivots: (S1) 1.0627; (P) 1.0651; (R1) 1.0684; More… Intraday bias in EUR/USD is turned neutral again first. Sustained break of 1.0609/34 support zone will carry larger bearish implication. Fall from 1.1274 should then target Read more…
Daily Pivots: (S1) 1.2237; (P) 1.2293; (R1) 1.2352; More… Intraday bias in GBP/USD remains on the downside as this point. Current fall from 1.3141 should target 1.2075 fibonacci level. On the upside, above 1.2423 minor Read more…