All Posts (10733)
Sort by
FTSE 100 flushed lower on weaker PMI data, Brexit uncertainty via Gibraltar feud, weaker Chinese data & terrorism concerns via Russia.
Daily chart remains bearish with H&S formation target of 6085. Support is seen at 7260- 7240.
60 mins chart indicates solid support at 7260.
10 mins - support seen at 7285 and 7260. Resistance above at 7315 , 7335, 7350.
Game plan: maintain a bearish bias until 7280-7260-7240. Once we get to those support levels then expect a short squeeze so I will reverse bias based on fundamentals.
Daily chart remains bearish with H&S formation target of 6085. Support is seen at 7260- 7240.
60 mins chart indicates solid support at 7260.
10 mins - support seen at 7285 and 7260. Resistance above at 7315 , 7335, 7350.
Game plan: maintain a bearish bias until 7280-7260-7240. Once we get to those support levels then expect a short squeeze so I will reverse bias based on fundamentals.
The daily candle put in a pivot low/bottoming tail at 2344 after terrorism concerns via St Petersburgh, Russia triggered a bout of risk aversion.
Daily chart has held Fib 75% resistance on concerns the trump trade has failed and is built on hot air given his health care bill failed to get enough votes.
Weaker economic data in the US + UK failed to support the bullish thesis from EU with stronger PMI and employment numbers.
A drop in US auto sales also hurt sentiment.
60 mins chart is in no mans land , asian markets will now dictate
Resistance seen at : 2370 , support seen at 2325 , 2340.
10 mins - support seen at 2350-2344.
game plan tomorrow: Long at support zones above provided fundamentals confirm, short at resistance zones above given bearish FA
happy to short at 2362-64 zone...targeting 2354-2344 .
Here’s Why GBP Soared on May’s Hard Exit Plans
Daily FX Market Roundup 01.17.17
Who would have thought that Prime Minister May’s plans for a hard exit from the European Union would trigger the strongest one day rally for the sterling versus the U.S. dollar since 2008?
A lot was said in this morning’s speech but at the end of the day, there were 4 main takeaways:
1. Britain is not seeking partial membership of EU – No Half In, Half Out
2. May won’t be proposing membership of EU Single Market
3. Government will put final deal to vote in Parliament
4. May will seek to avoid a disruptive Brexit cliff-edge – will aim for Phased Transition
read the rest here
http://www.bkassetmanagement.com/featured/heres-why-gbp-soared-on-mays-hard-exit-plans_10378/
