BastiatMises

BastiatMises Updated 

In my last analysis of the Pound / Dollar, the pair was neural with an overall bearish bias. Fundamentally, the UK had been experiencing trouble before COIVD-19 and the newest bad data would suggest that the UK will be one of the nations with the hardest recovery in the G10. (See BXY Analysis) Seeing how the Pound is a riskier currency and the US well on it's...

BastiatMises Updated 

Weak economic data from the UK exhibits an inherent risk in holding the Pound vs it's Oceanic counterpart. In my BXY analysis, I speak to, IMO one of the nation's in the G10 that will have the hardest time in recovery next to countries like Italy. The New Zealand economy has been quiet impressive during the age of COVID-19 and seem to only hiccuped it's way...

BastiatMises Updated 

EA itching for a break down as Aussie GDP Figures show 2.2% Growth despite lock down measure. And, that Aussie exports still made up +70% of all World Exports. Looking for EA to fall from Monthly Pivot of 1.62431 to Breakout Target Pivot of 1.58786. Secure your profits around the Major Qtr. of 1.6000, as this level is a major psych. Enter only during times of...

BastiatMises

IMO, the UK will be one of the nations in the G10 to have the hardest time recovering in the Post-COVID Era. The UK was already struggling before the lock downs as productivity measures have remained relatively flat since 2008. Immigration into the country is high in proportion to the nation's Emigration. That means more people to feed and more costs associated...

BastiatMises Updated 

ZXY more Bearish than it's sister AXY, yet still in Neutral overall. Price Action truncating hard Week of the 11th as Non-Commercials dump the Kiwi HARD. ZXY will move to test the bottom of the Daily Chop Block @ 58.5 and potentially give us a new long-term direction. Wait for test and break. A 30% difference in short vs long positions is massive. Should...

BastiatMises

Wait for price action to test 64.0. Non-Commercial Traders have been dumping the Aussie Dollar for over a week. Price action is testing the bottom of this 4 Hour Chop Block. Yet, the pair is still relatively neutral. Breaking 64.0 will be a major move and a possible indication of long-term direction. The entire move is a near .886 of the March 9 High 64.7....

BastiatMises Updated 

Bat Pattern 1H & 4H Chart Stop: 0.66156 T1: 0.64807 T2: 0.64388 Potential completion of Harmonic Bat Pattern. Double Top seems to forming at D Point. Price is struggling at the Minor Qtr. .65000 There is also a test of previous March 11, 2020 structure. Potential Scenarios

BastiatMises Updated 

What is the move? The pair is Neutral w/ a Bearish Bias. Neutral Bull Range: (NP1) 1.24694 (NP2) 1.24090 Neutral Bear Range: (NP1) 1.24090 (NP2) 1.23450 Bull Break: (BUP1) 1.24694 (BUP2) 1.2500 Bear Break: (BEP1) 1.23763 (BEP2) 1.23450 (BEP3) 1.22508 The GBP / USD is a highly volatile cross moving on average 125 pips for the previous 14 days NY to NY...

BastiatMises

Recently, EUR/USD has been chopping around since 29 Mar 2020 testing the bottom of the Weekly Downward Trend Channel. So the pair remains neutral. Price bounced returning to the Monthly S4 Pivot @ 1.08339, closing above and the retesting the M. Pivot. What's the move? If price action breaks the Monthly S4 Pivot @ 1.08339, a retest if Weekly Trend Channel...

BastiatMises Updated 

A close look at the "British Pound Sterling - Chicago Mercantile Exchange - COT Report," shows Non-commercials are net short on the Pound for the first time since December. The overarching fundamental backdrop of Brexit and COVID-19 shows signs of weighing on market sentiment. www.cftc.gov Also, one need to take into consideration the short-term bullish steam...

BastiatMises Updated 

British Pound Currency Index (BXY) is overall bearish do to economic fundamentals. And, the U.S. Dollar Currency Index (DXY) is safe haven currency that has outperformed all major currency indices, as traders pull their capital out of risk assets i.e., SPX showing a risk overall risk off sentiment. The S&P 500 (SPX) finished the day up 2.29%. However, the only...