riki143 Posted November 22, 2016 Share Posted November 22, 2016 EUR/USD: euro is dreaming of the balance of powers 11/22/2016 On the EUR/USD daily chart, there are two long-term patterns - "Head and shoulders" and "Crab". Target 161.8% in the "Crab" pattern corresponds to 1,004. The outlook for this pair is still "bearish", so, correction should be used for the opening of short positions. On the EUR/USD hourly chart, there is an acceleration of the downtrend which increases the risk of implementation of reversal pattern "Splash and reversal with acceleration". However, until the quotes rise above the upper boundary of the last downward channel, the "bears" will retain their control over the market. Recommendations: SELL 1,073 SL 1,0785 TP1 1,05 TP2 1,004 SELL 1,076 SL 1,0814 TP1 1,05 TP2 1,004. More: https://fxbazooka.com/analytics/11398 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 Morning brief for November 22, 2016. 11/22/2016 EUR/USD rose to 1.0650 on the session helped by news that Angela Merkel will run for a fourth term as German chancellor. The dollar has weakened due to the fall of 10Y US Treasuries yields. On Monday, ECB President Mario Draghi didn’t offer support to the euro as traders got convinced of the possibility of QE extension in December. Today’s rise of the euro is more profit-taking after large moves. IF US statistical releases coming on Wednesday are strong, the dollar will likely reclaim its leadership against the euro. Today’s focus will be on the US existing home sales and Richmond manufacturing index. An earthquake and tsunami in Japan quickly sent USD/JPY down to 110.61 from 111.00 on Monday. Earlier this morning the pair was nudged up above 110.80 by the news indicating minimal damage and no injuries. AUD/USD popped up to 0.7400 on the latest session. We don’t expect great moves from this pair today as there are no data releases/significant events that could weigh on the Aussie’s growth. GBP/USD soared above 1.2500. The pound is now one of the best performers against USD since the election. The UK economic and political fundamentals are rather robust. It looks like GBP in crosses like EUR/GBP can be a gainer. So, if there is a further downside, you may buy on the dip of this currency pair. Today traders will be watching for the UK data on the net borrowing of the public sector and CBI industrial order expectations. The forecast indicates a narrower budget deficit than it used to be last month. Oil climbed to $50 as investors bank on the output cut after the OPEC meeting. Iranian Oil Minister said it’s “highly probable” OPEC will strike a deal at the talks. Libyan OPEC Governor said that discussions went well leaving the group’s Vienna headquarters on Monday evening. USD/CAD sank to 1.3383 as crude inched higher. Now the US dollar is trying to regain its momentum. More: https://fxbazooka.com/analytics/11399 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 GBP/USD: testing the upper boundary 11/22/2016 Technical levels: support – 1.2410/20; resistance – 1.2520, 1.2490. Trade recommendations: 1. Buy — 1.2420; SL — 1.2400; TP1 — 1.2520; TP2 — 1.2610. Reason: bullish Ichimoku Cloud; cancelled dead cross of Tenkan-sen and Kijun-sen; a support of Senkou Span B. More: https://fxbazooka.com/analytics/11400 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 AUD/USD: correction in Tenkan-Kijun range 11/22/2016 Technical levels: support – 0.7360; resistance – 0.7440. Trade recommendations: 1. Sell — 0.7440; SL — 0.7460; TP1 — 0.7360; TP2 — 0.7320. Reason: bearish Ichimoku Cloud and falling Senkou Span A; dead cross of Tenkan-sen and Kijun-sen; the prices are in the range of Tenkan-sen and Kijun-sen. More: https://fxbazooka.com/analytics/11401 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 USD/JPY: on the 6-W highs 11/22/2016 Technical levels: support – 110.60, 109.90; resistance – 111.40, 111.90. Trade recommendations: 1. Sell — 111.90; SL — 112.10; TP1 — 110.60; TP2 — 109.90. Reason: bullish Ichimoku Cloud; a golden cross of Tenkan-sen and Kijun-sen; but there is an overbought market and all lines of Indicator Ichimoku are horizontal. More: https://fxbazooka.com/analytics/11402 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 EUR/USD: "Diamond" at the low 11/22/2016 The price faced a support at 1.0565, which led to the current consolidation. Also, it’s likely to see a reversal pattern. If it confirms, there’ll be an opportunity to have an upward correction in the direction of the nearest resistance at 1.0673 - 1.0710. If a pullback from this area happens, we should keep an eye on a support at 1.0636 – 1.0600 as a local bearish target. There’s a consolidation, which is taking place between the closest support at 1.0565 and the local downtrend. Moreover, we’ve got a “Diamond”, which was confirmed by two “Pennants”. Therefore, the market is likely going to reach a support at 1.0673 – 1.0710 in the short term. Considering a possible pullback from these levels, there’s an opportunity to have an achievement of the 55 Moving Average afterwards. More: https://fxbazooka.com/analytics/11403 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 GBP/USD: bullish "Pennant" 11/22/2016 We’ve got a “Double Bottom” pattern, so the price faced a resistance at 1.2476. Nevertheless, the pair is likely going to achieve the next resistance at 1.2556 – 1.2621. If a pullback from this area happens, then bears will probably try to reach a support at 1.2476 – 1.2439. Bulls found a resistance at 1.2486 – 1.2507, so the price is consolidating. Also, we’ve got a “Pennant” pattern, so the market is likely going to reach the next resistance at 1.2556 – 1.2591 in the short term. If we see a pullback from these levels, there’ll be an opportunity to have a bearish correction. More: https://fxbazooka.com/analytics/11404 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 Key option levels for Tuesday, November 22th 11/22/2016 EUR/USD Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 58 061 ? + 103 433 ? Closest resistance levels 1.0633; 1.0661; 1.0688; 1.0705 Closest support levels 1.0595; 1.0575; 1.0542; 1.0494 Trading recommendations Baseline scenario Short EUR/USD below 1.0595, with target points at 1.0575 and 1.0542 Alternative scenario Moving above 1.0633 can be considered as a signal to Buy the pair, with target at 1.0661 and 1.0688 GBP/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 136 ? + 185 ? Closest resistance levels 1.2498; 1.2525(16?); 1.2565; 1.2608 Closest support levels 1.2450; 1.2423; 1.2403; 1.2381 Trading recommendations Baseline scenario Short GBP/USD below 1.2450, with target points at 1.2423 and 1.2403 Alternative scenario Moving above 1.2498 can be considered as a signal to Buy the pair, with target at 1.2525 and 1.2565 USD/JPY {IMG]https://fxbazooka.com/img/articles/11406/USDJPY(64).png[/img] Main trend Short-term period Medium-term period Bullish Bearish Changes in the open interest + 935 ? + 421 ? Closest resistance levels 111.14; 111.33; 111.69; 111.88 Closest support levels 110.30; 110.07; 109.79; 109.46 Trading recommendations Baseline scenario Long USD/JPY above 111.14, with the target points at 111.33 and 111.69 Alternative scenario Moving below 110.30 can be considered as a signal to sell the pair, with target at 110.07 and 109.79 USD/CAD Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 478 ? + 55 ? Closest resistance levels 1.3446; 1.3495; 1.3535; 1.3591 Closest support levels 1.3396; 1.3376; 1.3349; 1.3312 Trading recommendations Baseline scenario Long USD/CAD above 1.3446, with the target points at 1.3495 and 1.3535 Alternative scenario Moving below 1.3396 can be considered as a signal to Sell the pair, with target at 1.3376 and 1.3349 More: https://fxbazooka.com/analytics/11406 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 Goldman Sachs’ trade ideas for 2017 11/22/2016 USD forecasts 2017 is promising to be auspicious for the US dollar with the fiscal stimulus, immigration rhetoric and more protectionism spurring inflation rates and offsetting monetary policy tightening. The greenback should have a good advantage in light of the incoming political reshufflings in Europe, ongoing uncertainty over the Brexit process and potentially ground-shaking Italian referendum. The main risks to this forecast are the ECB monetary policy tapering and a delay in triggering Article 50 to start the actual Brexit. Trump win will send yuan down China’s currency is under threat of depreciation in relation to USD. Analysts from Goldman Sachs advise buying the 12-month non-deliverable forward contract. The US dollar is expected to hit 7.07 yuan and then 7.30. Bet on the emerging market currencies The GS’s strategists recommend buying an equal-weighted basket of the Brazilian real, Russian ruble, Indian rupee, South African rand against the South Korean won and Singapore dollar. Some of the relatively high-yielding currencies look worn out after the US election amid the selloff of EM assets, making a good time for long positions. Goldman is short on South Korean won and Singapore dollar as this is another bet on weaker China. Buying opportunities in stock market The analysts recommend choosing emerging market stocks, which are less vulnerable to China’s economic slowdown. According to the bank, investors should consider buying Brazilian, Polish and Indian markets (an equal-weighted, currency unhedged basket composed of the Warsaw Stock Exchange Total Return Index, the Ibovespa Brasil Sao Paulo Stock Exchange Index, and the NSE Nifty 50 Index targeting a gain of 20% and exiting if the position falls 10% from the present levels). US Treasuries promise high spreads Analysts advise investors going long 10-year US bonds. The spread between nominal and inflation-protected Treasury yields is expected to rise to 230 basis points; if it falls to 160, you should exit the market. Strategists are also recommending a version of the same trade for inflation in Europe using swaps. The fundamental reasoning for rising inflation rates in Europe: firm energy prices, the end of austerity measures, central banks might start tolerating the above-target inflation. Based on Bloomberg's article More: https://fxbazooka.com/analytics/11407 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 USD/CAD: fundamental and technical analyses 11/22/2016 USD/CAD slumped to 1.3383 as contradictions within OPEC started to fade away pushing the oil crude prices higher. US dollar gained momentum on the Asian session and leapfrogged the Loonie. We see more USD upside going forward mainly on the monetary policy divergence (high probability of the Fed’s hike in December vs. BOC’s neutral monetary stance skewing at the “dovish” side) and uncertainty over Trump’s trade policy. The election of Republican nominee increased the likelihood of Canadian economic underperformance next year. Yesterday US President-elect released a video laying out actions he will take on his first days in office, including the renegotiation of the North American Free Trade Agreement (NAFTA). This may weigh on the Loonie in the foreseeable future (especially at the end of January, when Trump becomes the US president). In the short-term, CAD will likely be affected by the oil prices and Canadian statistical releases. Rising Canadian 5-year bond yields will allow Bank of Canada to stay on hold for a while. Today traders will be watching for the monthly retail sales data from Canada which should offer support to the Canadian dollar. The upbeat releases can move USD/CAD downwards to the nearest support at 1.3316 (38.2% Fibo retracement from the May 3 low), 1.3337 (located against 200 4H MA). Alternatively, tomorrow’s data releases from the US (if there are strong) can push quotes higher towards the nearest resistance lines at 1.3437 (100 4H MA), 1.3481 (50 4H MA). More: https://fxbazooka.com/analytics/11408 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 EUR/USD: correction going to move on 11/22/2016 There’s a reversal “Doji” at the local low, which has been confirmed enough. So, the price is likely going to test the 21 Moving Average line soon. As we can see on the Daily chart, we’ve got an “Engulfing” pattern. If it confirms, there’ll be an opportunity to have an upward correction. The 34 Moving Average acted as a resistance, so we’ve got a “Shooting Star” on this line. However, a confirmation of this pattern is a quite weak. Therefore, the current local correction is likely going to be continued. In this case, we should keep an eye on the 89 Moving Average as a possible bullish target. More: https://fxbazooka.com/analytics/11412 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 USD/JPY: "Shooting Star" pushing correction lower 11/22/2016 The price is consolidating above the nearest “Window”. At the same time, we’ve got an “Engulfing” and a “High Wave” patterns, but both of them haven’t been confirmed yet. So, the price is likely going to test the closest Moving Average shortly. If a pullback from this line happens, there’ll be an opportunity to have another bullish rally. As we can see on the Daily chart, here’s a “High Wave”, but this pattern doesn’t have a confirmation. So, there’s an option to have another test of the support nearby. There’s a consolidation, which is taking place on the one-hour chart. Also, there’re bearish patterns such a “Tweezers”, a “Tower”, a “Harami” and a “Shooting Star”. In this case, the current correction is likely going to move on towards the 55 Moving Average. If this line acts as a support, bulls will probably try to deliver another high. More: https://fxbazooka.com/analytics/11413 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 EUR/USD: wave [iii] going to move on 11/22/2016 The market has been declining since a triangle in wave (Y) ended. Therefore, wave [iii] is likely going to be continued. In this case, we should keep an eye on -2/8 Murrey Math Level (P=200). As we can see on the one-hour chart, there’s a double zigzag in wave (iv). Previously, an extension in wave (iii) was formed. So, bears are likely going to deliver an impulse in wave (v) of [iii] in the short term. More: https://fxbazooka.com/analytics/11414 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 USD/CHF rising inside multiple impulse waves 11/22/2016 USD/CHF rising inside multiple impulse waves Next buy target – 1.0200 USD/CHF has been rising strongly in the last few trading sessions – following the earlier breakout of the powerful resistance zone lying between the resistance levels 1.0000 and 0.9950 (this resistance zone has been reversing the price from May, as can be seen below). The breakout of this resistance area accelerated the active minor impulse wave 3, which belongs to the intermediate impulse (3) of the primary impulse wave ? from June. USD/CHF is expected to rise further in the direction of the next buy target at the resistance level 1.0200 (forecast price calculated for the completion of the active minor impulse wave 3). More: https://fxbazooka.com/analytics/11415 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 22, 2016 Share Posted November 22, 2016 USD/CAD reversed from powerful resistance level 1.3560 11/22/2016 USD/CAD reversed from powerful resistance level 1.3560 Next sell targets - 1.3350 and 1.3270 USD/CAD continues to fall after the earlier downward reversal from the powerful resistance level 1.3560, which also reversed the price sharply in the middle of this month. The previous downward reversal from the resistance level 1.3560 created the strong daily Japanese candlesticks reversal pattern Evening Star (the middle candle of which is also the single-candle Japanese candlesticks reversal pattern – Shooting Star). Having recently created the second consecutive Evening Star near the resistance level 1.3560 - USD/CAD can be expected to correct down to the next sell target at the support level 1.3350 – the breakout of which can lead to further losses toward 1.3270. More: https://fxbazooka.com/analytics/11416 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 23, 2016 Share Posted November 23, 2016 EUR/USD & FOMC Minutes: The ground is ready for a rate hike! 11/23/2016 Today at 19:00 GMT we’ll have the FOMC minutes, which are from November’s meeting, where the central bank decided to keep unchanged interest rates, before the US elections. Traders will be looking for further hints about a possible rate hike in December’s meeting, as current Fed’s rhetoric remains unchanged: the case for raise rates has continued “to strengthen”. No major surprises are expected, but we’ll be aware of how market’s volatility will act after the release. Our technical outlook for EUR/USD at H1 chart is sideways in a short-term, but if we check the overall picture, the pair is still weak across the board, with a price action consolidated below the 200 SMA. If we see a slump below the 1.0572 price zone, then further weakness toward the 1.0488 area is highly expected, while a rebound at current levels should take EUR/USD to test the 1.0735 level. More: https://fxbazooka.com/analytics/11417 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 23, 2016 Share Posted November 23, 2016 NZD/USD: kiwi decided to test the "neckline" 11/23/2016 On the NZD/USD daily chart, quotes came back to the neckline of the "Head and shoulders" pattern. Rollback from the nearest resistance or from the lower boundary of the upward trading channel will allow us to open short positions. On the NZD/USD hourly chart, there are the expanding wedge and the "Shark" patterns. The transformation in the "Shark" pattern into the 5-0 pattern will lead to the growth of quotes towards 23.6%, 38.2% and 50% Fibonacci retracement levels from the CD-wave. Then, there might be a rollback followed by the restoration of the downtrend (especially if the "bulls" manage to test the resistance at 0.7315). Recommendations: SELL 0,7085 SL 0,714 TP 0,68 SELL 0,7145 SL 0,72 TP 0,68 SELL 0,7195 SL 0,725 TP 0,68. More: https://fxbazooka.com/analytics/11418 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 23, 2016 Share Posted November 23, 2016 GBP/USD: pound is coming back to its previous positions 11/23/2016 On the GBP/USD daily chart, the "bears" was trying to return to the borders of the medium-term consolidation range at 1.21-1.231, but failed to do so. As a result, the second shoulder of the "Head and shoulders" pattern was formed. A successful test of the lower boundary of the upward trading channel can lead to the downfall of quotes towards 1.215. On the GBP/USD hourly chart, the retest of the diagonal resistance in the form of the lower boundary of the upward trading channel can be used as a buying signal. In this situation, short positions should be opened from 1.2365 and 1.23 levels in the direction of the target 88.6% in the "Shark" pattern. Recommendations: SELL 1,2365 SL 1,242 TP 1,215 SELL 1,23 SL 1,2355 TP 1,215. More: https://fxbazooka.com/analytics/11419 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 23, 2016 Share Posted November 23, 2016 Morning brief for November 23, 2016 11/23/2016 EUR/USD pinned to 1.0622 level only a few points above its one-year low at 1.0564. Much credit must go to the US bond yields that keep rising after the US presidential election. Another factor that contributes to the US strengthening is a divergence between the Fed intending to raise rates in December and ECB maintaining its steady hand and continuing its ultra-loose monetary policy. Today watch for the manufacturing PMI releases coming from the Eurozone and for the bunch of the US data (namely, new home sales, revised UoM consumer sentiment and inflation expectations). Also, we will get FOMC meeting minutes, but it shouldn’t bring much volatility to the chart as the market has already got used to the idea of the Fed’s rate hike in December. AUD/USD was one of the greatest performers on the session, moving up to 0.7430 level from yesterday’s 0.7400. The main reason of the recent Aussie’s appreciation – rising commodity prices (iron ore futures rose 8%; copper move up towards its 16-month high). The bid for AUD was despite the disappointing data on Q3 construction work. Analysts see more AUD strengthening on the back of rallying commodity prices. The Bloomberg Commodity Index is at its highest level since June. Goldman Sachs Group Inc. expect commodity prices to rise next year in the light of the boosted manufacturing activity around the world GBP/USD fell yesterday towards the 1.2410 support ahead of the budget update from British Minister Philip Hammond. Now the pair is consolidating along the 1.2415 level (100 4h MA). Strategists expect some modest infrastructure spending and housing stimulus, but nothing that could change expectations of a weaker economy ahead of the “Brexit” talks. USD/JPY’s move should be subdued today as the Japanese have a holiday today. The pair is trading above 111.00. There can be some more USD upside going forward if today’s statistical data from the US is strong. USD/CAD edged down below 1.3440 in the course of the Asian session. Oil prices are steady at $49 for the present moment as the market hung in wait for more news from OPEC’s Vienna headquarters. More: https://fxbazooka.com/analytics/11420 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 23, 2016 Share Posted November 23, 2016 EUR/USD: bearish "Flag" 11/23/2016 The price is consolidating above the nearest support at 1.0565. Also, we’ve got a “Flag”, so the market is likely going to reach the next support at 1.0550 – 1.0522 in the short term. If a pullback from these levels happens, there’ll be an opportunity to have a bullish movement towards a resistance at 1.0636 – 1.0673. We’ve got a flat, which is taking place between the 55 Moving Average and the closest support at 1.0565. Therefore, the pair is likely going to reach a support at 1.0550 – 1.0522 during the day. However, if we see a pullback from this area, bulls will probably try to achieve a resistance at 1.0600 – 1.0636. More: https://fxbazooka.com/analytics/11421 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 23, 2016 Share Posted November 23, 2016 GBP/USD: "Triple Top" led to decline 11/23/2016 There’s a “Double Top” pattern, so the price reached a support at 1.2379. So, bears are likely going to move on towards the next support at 1.2352 – 1.2309. If a pullback from this area be on the table, there’ll be an option to have another upward movement in the direction of a the nearest resistance at 1.2476 – 1.2556. We’ve got a “Triple Top”, which led to the current decline. The price faced a support at 1.2399, so there’s a local bullish correction on the way. Meanwhile, bears are likely going to test the next support at 1.2351 – 1.2309 in the short term. Considering a possible pullback from this area, there’s an opportunity to have a bullish correction afterwards. More: https://fxbazooka.com/analytics/11422 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 23, 2016 Share Posted November 23, 2016 EUR/USD: bearish trend may continue 11/23/2016 Technical levels: support – 1.0610; resistance – 1.0650. Trade recommendations: 1. Sell — 1.0600; SL — 1.0620; TP1 — 1.0570; TP2 – 1.0510. Reason: bearish mood of Ichimoku Cloud; a dead cross of Tenkan-sen and Kijun-sen; strong resistance of Tenkan-sen and Kijun-sen. More: https://fxbazooka.com/analytics/11425 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 23, 2016 Share Posted November 23, 2016 GBP/USD: on support of Tenkan and Kijun 11/23/2016 Technical levels: support – 1.2405, 1.2370; resistance – 1.2490. Trade recommendations: 1. Buy — 1.2420; SL — 1.2400; TP1 — 1.2520; TP2 — 1.2610. 2. Sell — 1.2360; SL — 1.2380; TP1 — 1.2310; TP2 — 1.2230. Reason: narrowing bullish Ichimoku Cloud; a weak golden cross of Tenkan-sen and Kijun-sen; a support of Tenkan-sen, Kijun-sen and Senkou Span B. More: https://fxbazooka.com/analytics/11426 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 23, 2016 Share Posted November 23, 2016 AUD/USD: aussie finished the local correction 11/23/2016 Technical levels: support – 0.7390, 0.7360; resistance – 0.7440. Trade recommendations: 1. Sell — 0.7430/40; SL — 0.7460; TP1 — 0.7360; TP2 — 0.7320. Reason: bearish Ichimoku Cloud but there is a rising Senkou Span A; dead cross of Tenkan-sen and Kijun-sen; the prices are above Kijun-sen; strong resistance near 0.7440. More: https://fxbazooka.com/analytics/11427 Quote Link to comment Share on other sites More sharing options...
riki143 Posted November 23, 2016 Share Posted November 23, 2016 GBP/USD: ahead of the UK Autumn Statement 11/23/2016 What is the Autumn Statement and why it’s so important? It's the Chancellor's second-biggest speech of the year after the Budget. Philip Hammond, the British the Chancellor of the Exchequer, will come to the House of Commons to reveal the state of the economy and outline the government's spending plans. When to watch? The Autumn Statement will be at 2.30 pm (Metatrader time). What to expect? Philip Hammond will have to admit the largest deterioration in British public finance since 2011. The chancellor faces a difficult set of choices, with little wiggle room, given the still gloomy path ahead for the UK economy. So, this Autumn Statement is likely to be a cautious update to the government’s spending plans, most likely disappointing for the market awaiting a Trumpstyle splash of fiscal stimulus. New policies will probably be focused on helping out the JAMs (Just About Managing) and on the promotion of the business productivity. Also, the Government might lessen the degree of austerity (but this easing is expected to be rather moderate). GBP/USD levels to watch TD waits for further GBP strength despite the expecting disappointment followed by the Autumn Statement. It favors tactical longs in the pound with an initial target of 1.2674 against support at 1.2365, but the primary trend remains bearish for GBP/USD overall. Lloyds Bank is also positive in relation to pound saying that the prices might test the resistance at 1.2445, followed by 1.2510, whereas on the downside, there are several supports located at 1.2350 and 1.2200. TB Bank Securities strategists believe that GBP will likely consolidate on the release. UOB is also neutral on the GBP/USD saying that the pair will likely be trading choppily in the range of 1.2300 – 1.2600 in the near-term. More: https://fxbazooka.com/analytics/11428 Quote Link to comment Share on other sites More sharing options...
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