We are done with small H&S formation but what about the “Monster” one? For now we may see some continuation to the downside towards 9500/9000 followed with some kind of bounce/rally. And that might be the rally that will create the right shoulder. Bear in mind that we are looking at weekly chart, so it is going to take some
Short recap Asia in green after strong US session yesterday On Trump softer on tariffs – but do not get mislead by risk on mood Europe opening flat to higher ECB today likely to confirm a gradual shift But still not major change in wording Draghi to talk down any hawkish views despite strong EZ economy Fed 4 hikes warranted, eventually
European equities seem to be in a quite and cautious mood today after yesterday’s red day. US futures are up a what gives additional comfort to the market is also the calm in FX. Bonds are getting slightly sold but yields are not moving very high. It is an interesting situation when stocks got sold off heavily over the
Short recap Asia in red Europe opening lower US Congress to vote on government funding German coalition talks well covered blockchain technology to make Germany a fintech hub Draghi not ok with EUR volatility due to potential inflation miss Kuroda – no near-term hikes Question – what now? Honestly, I am not sure either… …as Janet is celebrating and Powell not being
Short recap Asia took a break Europe opening flat to slightly up US tax bill refining continues as the bill moves from Senate to the House before it lands on Trump’s table Many have changed the wording from tax reform bill to tax bill AMT getting challenged as many companies may loose the tax break and pay the 20% alternative
Short recap Asian up Europe opening higher Catalonian 90% vote for independence Madrid and police not comfortable with it Declaration of independence likely to come in 48 hours Boris Johnson sees Theresa May gone within the year (friends…) Boeing–Bombardier dispute a proof of UK-US Trump kind of preferential partnership Warsh the new Fed’s head after meeting with Trump Used to be a Fed gov (2006/11)
Short recap Asia in red on NoKo and S&P downgrade of China (outlook stable) and Hong Kong (outlook negative). S&P not comfortable with Chinese still strong credit growth Europe opening lower Speculation that NoKo will test powerful hydrogen bomb in Pacific PBOC asked Chinese banks to stop cooperating with NoKo Equities Lufthansa to absorb largest part of AirBerlin’s assets While easyJet should get some too Stronger EUR weighting on DAX 12 500 to
Short recap Asian down on weaker Chinese data Europe opening mixed Trump getting more experienced (less tweeting) And starting meeting people (like Rep/Dem leaders) to move things forward ECB to keep a steady hand on easy policy as inflation stays very low Chinese steel mills production reaching record highs Bitcoin on a weak foot after JPMorgan’s Dimon fraud comment Historically, it is
Short recap Asia lower on commodities losing the ground on worries about the global growth Europe opening lower DAX printing new historical high Praet pushed EURUSD higher with ECB guidance shift to focus on data House approved new healthcare bill Now it is heading to Senate where it will face a strong opposition EZ to grant a relief
Hi,today German Index DAX as our Chart of the Day: Join Us:FREE LIVE TRADING ROOM – click here Most probably every bear around was dreaming about possible H&S formation ( blue on the chart below ) before market has open today. Unfortunately, right after the open ( and for the whole trading day ) the same bears were in rush to cover their shorts