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In the FX, the euro sales gained momentum after the German Gfk consumer climate data showed deterioration in economic sentiment in Germany versus no change expected. Further weakness in German data boosted the euro bears and paved the way for a deeper sell-off to 1.0777 against the US dollar...

Pivot (invalidation): 53.30 Our preference Long positions above 53.30 with targets at 54.10 & 54.40 in extension. Alternative scenario...

Pivot (invalidation): 18.2000 Our preference Long positions above 18.2000 with targets at 18.5400 & 18.6400 in extension. Alternative scenario...

Pivot (invalidation): 1603.00 Our preference Long positions above 1603.00 with targets at 1616.00 & 1620.00 in extension. Alternative scenario...

Pivot (invalidation): 3400.00 Our preference Short positions below 3400.00 with targets at 3373.00 & 3355.00 in extension. Alternative scenario...

Pivot (invalidation): 13800.00 Our preference Short positions below 13800.00 with targets at 13750.00 & 13710.00 in extension. Alternative scenario...

Pivot (invalidation): 6.0700 Our preference Long positions above 6.0700 with targets at 6.0950 & 6.1030 in extension. Alternative scenario...

Pivot (invalidation): 0.6660 Our preference Short positions below 0.6660 with targets at 0.6615 & 0.6600 in extension. Alternative scenario...

Pivot (invalidation): 1.3240 Our preference Short positions below 1.3240 with targets at 1.3215 & 1.3205 in extension. Alternative scenario...

Pivot (invalidation): 0.9820 Our preference Long positions above 0.9820 with targets at 0.9845 & 0.9865 in extension. Alternative scenario...

Pivot (invalidation): 111.10 Our preference Long positions above 111.10 with targets at 111.60 & 111.80 in extension. Alternative scenario...

Pivot (invalidation): 1.2930 Our preference Short positions below 1.2930 with targets at 1.2880 & 1.2865 in extension. Alternative scenario...

Pivot (invalidation): 1.0815 Our preference Short positions below 1.0815 with targets at 1.0780 & 1.0770 in extension. Alternative scenario...

The euro slipped below the 1.08 mark against the greenback on the combination of meaningfully softer-than-expected ZEW surveys in the Eurozone and Germany, and significantly stronger-than-expected Empire Manufacturing index in the US...

Stocks in Asia rebounded on Wednesday as US President Donald Trump stopped a proposal to block GE-made jet engine sales to China, tweeting that ‘we don’t want to make it impossible to do business with us’...

Pivot (invalidation): 51.65 Our preference Long positions above 51.65 with targets at 52.75 & 53.30 in extension. Alternative scenario...

Pivot (invalidation): 18.1100 Our preference Long positions above 18.1100 with targets at 18.3400 & 18.4400 in extension. Alternative scenario...

Pivot (invalidation): 1592.50 Our preference Long positions above 1592.50 with targets at 1610.00 & 1614.00 in extension. Alternative scenario...

Pivot (invalidation): 13660.00 Our preference Long positions above 13660.00 with targets at 13760.00 & 13790.00 in extension. Alternative scenario...

Pivot (invalidation): 3355.00 Our preference Long positions above 3355.00 with targets at 3385.00 & 3410.00 in extension. Alternative scenario...