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FTSE 100: trading plan for Tues 4/3/2017

Posted by Aadil on April 3, 2017 at 11:37pm
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.
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S&P 500: trading plan for Tues 4/03/2017

Posted by Aadil on April 3, 2017 at 11:02pm

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 .

  

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Here’s Why GBP Soared on May’s Hard Exit Plans

Posted by Aadil on January 18, 2017 at 9:11am

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/

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