Sam_Eder

Sam_Eder

Fundamentals have not changed. The speculative flows are violent on cryptocurrencies. Our initial continuation entry was triggered. New Gap Support has also formed, which would be the ideal pullback area. But breakouts can also be considered above the continuation point.

Sam_Eder

Equities are starting to display a typical risk-off tone. US and China fired words back at each other suggesting further escalation in the trade war, while Mnuchin confirmed there are still no plans to go to China. The US is also looking to announce Huawei type bans on other Chinese intelligence companies. We like the odds of further downside in the...

Sam_Eder

GBP remains offered given the political volatility in Westminster. The BBC reports there is further pressure on May to resign from her own MPs after one of her senior ministers quit the cabinet (Andrea Leadsom). We have covered much space this week already, but continuation breaks remain favoured.

Sam_Eder

NZD has been in a strong downtrend on the back of softer local data, a recent RBNZ rate cut, and downturn in global sentiment. More recently, Kiwi has been sinking in sympathy with its Aussie cousin, reminded once again of the rate cut trajectory after the RBA Minutes moved in a similar direction. We like pullbacks towards short-term resistance as entries....

Sam_Eder

Fundamentals have not changed. The speculative flows are violent on cryptocurrencies. Our initial continuation entry was triggered. New Gap Support has also formed, which would be the ideal pullback area. But breakouts can also be considered above the continuation point.

Sam_Eder

The US/China trade debate has calmed for the time being. The US may scale back Huawei curbs, delayed the decision on foreign auto tariffs and exempted Canada and Mexico from steel/aluminum tariffs. For the moment, Dax is our favoured index. It is pushing higher with momentum and we favour continuation breakouts.

Sam_Eder

Conservative members of Parliament agreed on a timetable for a leadership race to replace PM May in June. Boris Johnson confirmed he would be in the running to succeed PM May. After May there will be more pro-Brexit support. GBP has been sold aggressively on higher Brexit probability. Previous target/support has become short-term resistance and that is the...

Sam_Eder

Fundamentals have not changed. The speculative flows are violent on cryptocurrencies. Our initial continuation entry was triggered. New Gap Support has also formed, which would be the ideal pullback area. But breakouts can also be considered above the continuation point.

Sam_Eder

Conservative members of Parliament agreed on a timetable for a leadership race to replace PM May in June. Boris Johnson confirmed he would be in the running to succeed PM May. After May there will be more pro-Brexit support. GBP has been sold aggressively on higher Brexit probability. We are approaching a key target today. Fresh entries are better taken on...

Sam_Eder

Fundamentals have not changed. The speculative flows are violent on cryptocurrencies. Gap Support has held. We would start attempting longs on continuation breaks. The continuation break is a confirmation that the pullback is over (at least temporarily).

Sam_Eder

Bitcoin remains bid despite the hack at a major exchange. Also, Starbucks, Microsoft, TD Ameritrade and Whole Foods are all making moves to adopt BTC. Finally, the story about an institutional cryptocurrency prime dealer partnering with M.Y. Safra Bank has been another positive headline. We like the odds of buying on pullbacks towards the highlighted support...

Sam_Eder

The Australian Dollar has been facing headwinds from this latest wave of risk reduction, mostly brought on by the breakdown in talks between the US and China on trade. The downtrend was accelerated by poor data overnight. Regarding the CHF, the SNB remains uncomfortable with Franc appreciation and continues to remind the market it will need to be careful about any...

Sam_Eder

The Fed's dovish shift in 2019 that pushed prices higher has been overshadowed by ramped up tension on the global trade front. This should continue to be a drag on investor sentiment until other factors prevail. Our bias remains down on the Dow, as highlighted by the 55 SMA Slope and the fact we have not yet broken key resistance areas. It will be tricky today....

Sam_Eder

One of the questions I like to ask aspiring traders is this: are you bullish or bearish anything right now? It seems like a dumb question but it actually gives a wealth of information regarding the trader’s mindset and whether he is thinking multidimensionally or not. Compare these 2 replies: I’m currently bearish on USDJPY. I see strength in JPY across the...

Sam_Eder

NZDCHF remains anchored in a downtrend as highlighted by the 55 SMA Slope. The Kiwi sunk to a fresh yearly low last week, after the RBNZ cut interest rates. With risk sentiment deteriorating in the face of broken down trade talks between the US and China, Kiwi upside is likely to be limited. We favour shorts on pullbacks towards short-term resistance levels.

Sam_Eder

Bloomberg reported that Italian PM Conte accused Salvini of bringing down the coalition government in an end to a bad week for the Italian bond market. Meanwhile ramped up tension on the global trade front should continue to be a drag on investor sentiment. Technically we have dropped through our first target and selling continues. We favour continuation breaks...

Sam_Eder

Dow Jones remains the weakest US index and is in a downtrend as highlighted by the 55 SMA slope. The downtrend is generated by the US/China trade war issues. Headline risk is present. We favour further downside through the continuation level.

Sam_Eder

Momentum is positive on USDCAD as highlighted by our 55 SMA Slope. We are pressing agains a clear continuation level. The USD has gained strength since yesterday across the board. We favour breakouts today.