The 2019 yearly opening level from 1.1445 elbowed its way back into the spotlight last week, with bears reasserting their dominance and snapping a three-week winning streak. Down more than 180 points, price dipped its toes back within a descending channel formation (1.1569/1.1215), and is poised to revisit support priced in at 1.0873 (the 2016 yearly opening level) this week, in line with the primary trend, drifting south since 2018.
Global Markets: Asian Stock Markets : Nikkei down 6.02%, Shanghai Composite down 1.23%, Hang Seng down 1.51%, ASX up 4.42% Commodities : Gold at $1587.80 (-0.16%), Silver at $15.64 (-2.31%), Brent Oil at $34.41 (+3.58%), WTI Oil at $32.73 (+3.90%) Rates : US 10-year yield at 0.888, UK 10-year yield at 0.272, Germany 10-year yield … Continue reading Friday 13th March: Markets look forward to US stimulus package.
Europe’s single currency attempted a comeback against the buck off the 61.8% Fibonacci retracement ratio at 1.1053 on the H4 scale, a touch north of March’s opening level at 1.1045, after free falling from highs at 1.1333.
Global Markets: Asian Stock Markets : Nikkei down 4.41%, Shanghai Composite down 1.52%, Hang Seng down 3.72%, ASX down 7.36% Commodities : Gold at $1635.30 (-0.43%), Silver at $16.61 (-0.99%), Brent Oil at $34.34 (-4.05%), WTI Oil at $31.70 (-3.88%) Rates : US 10-year yield at 0.766, UK 10-year yield at 0.280, Germany 10-year yield … Continue reading Thursday 12th March: Markets in the red as Trump puts travel restrictions on travelers from Europe
Europe’s shared currency coasted lower Wednesday, fading session peaks at 1.1366. As markets ready themselves for the European Central Bank, H4 price is seen languishing marginally south of 1.13, testing lows of 1.1257. US inflation data (CPI) announced modestly optimistic figures in February, though was largely ignored by market price.
