Markets A solid 10-year Japanese bond auction this morning calmed down global core bond markets jitters after yesterday’s rout. But the underlying market forces are quelled for now, not at all dead. With the BoJ normalizing policy, rising Japanese yields offer an increasingly attractive alternative in a market already stretched by a huge supply (government, […]
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Daily Pivots: (S1) 154.71; (P) 155.43; (R1) 156.21; More… Intraday bias is turned neutral first with current recovery. With near term channel floor intact, further rally is expected. Above 156.57 minor resistance will bring retest of 157.88. Further break there will resume the whole rally from 139.87. Next target is 158.86 structural resistance, and then […]
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Daily Pivots: (S1) 1.3188; (P) 1.3232; (R1) 1.3257; More… GBP/USD’s break of 1.3199 minor support argues that recovery from 1.3008 might have completed as a three-wave corrective move to 1.3274. That came after touching 55 D EMA (now at 1.3265). Intraday bias is back on the downside for retesting 1.3008 low. On the upside, however, […]
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Daily Pivots: (S1) 1.1582; (P) 1.1617; (R1) 1.1644; More…. Intraday bias in EUR?USD remains neutral for the moment. On the upside, decisive break of 1.1655 will complete a head and should bottom pattern (ls: 1.1540, h: 1.1467, rs: 1.1490). That would argue that whole fall from 1.1917 has completed as a correction. Further rise should […]
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Daily Pivots: (S1) 0.8013; (P) 0.8031; (R1) 0.8067; More… Intraday bias in USD/CHF is turned neutral first with current recovery. Outlook is unchanged that price actions from 0.7828 low is seen as a corrective pattern. On the upside, above 0.8070 will indicate that pattern is still extending, and turn bias back to the upside for […]
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