Using the Fibonacci retracements, we have confirmed a new trend of downwards after pushing through the 61% line and is expected to see a new low.
Just moments ago we had a confirmation of the final decision of a 25% tax on Chinese products and we expect all investors that moved currency to safer currency will move them back.
A new upward trend is highly unlikely!
SHORT
We are expecting good news in tonight's calendar news for the US. Asian Markets are expected to stay low since a 6 week low.
KEY DECISIONS: New trend, Calendar for the next 2 days and Sino-US trade
Japan Should see huge spending by August as Tax will increase up to 10 % from 8%. By the prime minister, Abe Shinzo's plan Japan will see spending cut pushing forward the effort to pay back the massive 9 Trillion USD dept due to worries of China requesting a payback in term of services like taking over major hubs like a port where imports and exports are...
Two false breakouts and a Known path the graph makes it hard to predict the next pattern. The upcoming EUR Markit Composite PMI and Services PMI might decide the Next Move!
