Price is reacting on pivot level at 0.70115 which is in line with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and 200MA. Price could potentially swing towards resistance at 0.70850, in-line with 50% Fibonacci retracement , 61.8% Fibonacci extension level and 50MA. Stochastic is also at support where previous...
USDJPY short-term bullish momentum | 21st Sep 2021
Price is reacting within the triangle pattern , in the short-term we can expect price to be bouncing up to touch the descending trendline resistance. We can expect the price to push up from the pivot level in line with 38.2% Fibonacci retracement level and push towards the take profit...
GBPJPY facing bearish pressure | 21st Sep 2021
Priced broke downwards out of the wedge pattern, signifying a bearish signal. We can expect price to drop down from the pivot level in line with the ascending trendline resistance and 23.6% Fibonacci retracement towards the take profit level in line with 127.2% Fibonacci retracement , 200% FIbonacci projection and...
FX Update: What happens to risk rebound if US yields break higher?
Yesterday saw a capitulation of weak longs in risky assets after key support gave way, with the JPY playing the safe haven currency du jour. Since then, we have seen a powerful rebound starting in late US trading yesterday, but we still have the overhanging question of what the FOMC...
Was that the capitulation or more to come?
Today we breakdown yesterday's capitulation extension after key support failed, while noting the interesting technical levels where support came in for the US market as the market rebounded strongly yesterday in late trading, as well as where the resistance levels are for judging whether we can reverse the slide or...
Market Quick Take – September 21, 2021
Markets were in for the worst session in months yesterday in Europe and the US as the S&P 500 corrected beyond its 100-day moving average before a late and sharp rally erased the worst of the damage. Chinese mainland markets are offline for a holiday while Hong Kong traded sideways...
The first real ‘buy-the-dip’ test in 11 months
The broad selloff in global equities kick started by nervous markets in Hong Kong over the Evergrande situation is the first real test in 11 months. The question is whether the 'buy-the-dip' cavalry is coming to the rescue or the correction will continue?For over a week I was on the...
German Election Update: A new era?
Yesterday's last TV debate between the three lead candidates (Spitzenkandidaten, in German) confirmed the current momentum in the German election campaign. The centre-left SDP leads Refinitiv’s polling aggregate by four points over the CDU/CSU after rising more than nine points in the last eight weeks. Assuming there are no last-minute...
3 Blockchains to Watch Outside Ethereum
Blockchain networks are just as important an investment — if not more!
Unusual Options Activity: Worried About the Dip? These Guys Aren’t…
The stock has rallied since this trade was put on last Wednesday and the options are already worth $3.75, a 43% gain in just a few days.