Price has been falling since late September from the high at 1.3658 to the recent low around 1.3257 area. Based on our analysis, this recent fall seems to be a corrective down move, potentially a 4th wave of a 5-wave structure. With price finding some minor support between 1.3162 to 1.3257 (a fibonacci confluence between the 61.8 and 50 level), we are now...
Hey guys, Its' been raining all the day so put your likes on this to save me from melancholy ;) So today we got a manufacturing PMI in the euro area signaling a rise to the highest since 2011, as European factories increase the demand for labor to absorb the growing number of orders. The index of purchasing managers from IHS Markit rose to 57.4 points in June...
Inflation and business activity is picking up. So it looks like EUR is ready to RISE. What to sell short against euro is up to you. I prefer USD, GBP, JPY.
AUDUSD should trade higher in the coming days since it felt support at around the 0.7507 level. The entry came shortly after a disappointing US ISM Manufacturing PMI data release.
UK manufacturing PMI for August is due for release today is expected to show the pace of contraction in the activity moderated somewhat. The index is seen coming-in at 49.00 compared to July’s 48.2 figure. No signs of post Brexit gloom and doom So far we have not seen any sign of post Brexit gloom and doom. It was just the July manufacturing PMI figure that...
Following today's Service/ Manufacturing PMI miss (worst contraction in 88 months - since 2009) the Sterling market has come under significant pressure as BOE rate cut expectations increase with OIS rates markets pricing a 94% chance of a 4th Aug cut vs 85% before the PMI's were released. Further, the PMI misses has attracted attention from UK Politicians e.g....
UK Construction is not the nations strongest sector and a poor or below expected read is the most likely outcome, 4 of the last 5 reads have been below average. The likely outcome will be price continuing to head down and challenging a break of the historic consolidation zone around the 38.2% fib level. A good read will confirm trader sentiment last Friday which...
The BRICS (Brazil, Russia, India, China and South Africa) are highly watched emerging markets because they represented roughly 22 percent of global GDP in 2014. However, the global economic slowdown and increased geopolitical tension has weighed heavy on these markets. Although, India may be the most resilient economy out of the BRICS. India has felt its share of...