September 21, 2017
EUR/GBP Update – 21/09/2017 (12:10pm): EUR/GBP is holding ahead of the .8743 14th July low and has bounced back above .8800. Charts suggest Intraday rallies are indicated to hold below 8900.. In a tight range for the foreseeable future.. Waiting for a break..
September 21, 2017
GBP/USD Update – 21/09/2017 (12:00pm): GBP/USD has been rejected from critical medium term resistance at 1.3622/70, which represents a double Fibo and the 2014-2017 downtrend. Given the convergence of resistance here we would expect this to continue to hold the initial test and provoke some profit taking. However currently the intraday Elliott wave counts are positive…. View Article
September 21, 2017
USD/CHF Update – 21/09/2017 (11:50am): USD/CHF has seen a strong rally post FOMC and we maintain an upside bias above .9570. There is scope for a test of the current August highs at .9770/72, however in order to reignite medium term upside interest we suspect that the currency pair will need to close above the… View Article
September 21, 2017
EUR/USD Update – 21/09/2017 (11:40am): EUR/USD continues to hold over the 5 month uptrend at 1.1853, but only just following an outside day to the downside. While this holds we remain unable to rule out an extension to the 50% retracement from the move down from the 2014 high at 1.2168 and the 1.2372 200 month… View Article
September 21, 2017
USD/CAD Update – 21/09/2017 (11:30am): While the near-term retracement continues to develop, the downside risks are intact in line with the corrective bias and the impulsive breakdown below important trend line support from the 2012 low at 1.2359. The more immediate focus is on the 1.2335/1.2414 resistance zone (38.2% retracement/recent breakdown area). Still, an extension above… View Article
September 21, 2017
NZD/USD Update – 21/09/2017 (11:20am): While yesterday’s break above the short-term range action raises the risk of additional upside, note that the next line of key resistance has held in so far as the overall downside risks are intact. Again, the focus is now on the .7400/60 zone (61.8/76.4% retracements), with breaks above the latter implying… View Article
September 21, 2017
In Asian Equity Markets Japan’s Nikkei index rose on Thursday, boosted by gains on Wall Street and a weaker yen after the Federal Reserve signalled it still expects to raise interest rates one more time this year. The Nikkei was up 0.8 percent at the end of morning trading at 20,479.88 points, its highest since August… View Article
September 21, 2017
Morning all.. Wall St had another quiet session and didn’t react to the announcement by the Fed that the Balance sheet reduction will start next month, as they suggested it will only be $10bln a month. It also failed to react to the fact that they are keeping the rate path unchanged which still suggests… View Article
September 21, 2017
In European Equity Markets stocks hovered in cautious trade on Wednesday ahead of a policy decision by the U.S. Federal Reserve, with rate-sensitive banking shares edging lower. The pan-European STOXX 600 was flat in percentage terms, helped by buoyant energy stocks and gains among the more defensive health care .SXDP sector, while euro zone blue chips retreated… View Article
