Jiming Huang / Profil

Pivot (invalidation): 109.10 Our preference Short positions below 109.10 with targets at 108.75 & 108.50 in extension. Alternative scenario Above 109.10 look for further upside with 109.40 & 109.75 as targets...

Pivot (invalidation): 1.3095 Our preference Long positions above 1.3095 with targets at 1.3170 & 1.3200 in extension. Alternative scenario Below 1.3095 look for further downside with 1.3055 & 1.3015 as targets...

Pivot (invalidation): 1.1450 Our preference Long positions above 1.1450 with targets at 1.1535 & 1.1570 in extension. Alternative scenario Below 1.1450 look for further downside with 1.1410 & 1.1390 as targets...

2019 started with a cautious outlook. Outside the US-China trade tensions, worries centred on the effect of the US Federal Reserve tightening. Normalization came when risk appetite was shaky and valuations for stocks and bond were elevated...

We don’t see how GBP can maintain its strength. Too much uncertainty: GBP/USD is currently trading at 1.3112, approaching 1.3065 short-term. UK Prime Minister Theresa May says she’ll return to Brussels to convince the European Council to remove the Northern Ireland backstop. Yeah, right...

Pivot (invalidation): 53.05 Our preference Long positions above 53.05 with targets at 53.95 & 54.50 in extension. Alternative scenario Below 53.05 look for further downside with 52.60 & 52.20 as targets...

Pivot (invalidation): 15.7900 Our preference Long positions above 15.7900 with targets at 16.0500 & 16.1900 in extension. Alternative scenario Below 15.7900 look for further downside with 15.6900 & 15.5800 as targets...

Pivot (invalidation): 1308.00 Our preference Long positions above 1308.00 with targets at 1319.00 & 1323.00 in extension. Alternative scenario Below 1308.00 look for further downside with 1305.50 & 1302.00 as targets...

Pivot (invalidation): 2626.00 Our preference Long positions above 2626.00 with targets at 2661.50 & 2676.00 in extension. Alternative scenario Below 2626.00 look for further downside with 2613.00 & 2596.50 as targets...

Pivot (invalidation): 11155.00 Our preference Long positions above 11155.00 with targets at 11285.00 & 11350.00 in extension. Alternative scenario Below 11155.00 look for further downside with 11100.00 & 11030.00 as targets...

Pivot (invalidation): 5.3270 Our preference Short positions below 5.3270 with targets at 5.3000 & 5.2800 in extension. Alternative scenario Above 5.3270 look for further upside with 5.3450 & 5.3620 as targets...

Pivot (invalidation): 0.7160 Our preference Long positions above 0.7160 with targets at 0.7205 & 0.7235 in extension. Alternative scenario Below 0.7160 look for further downside with 0.7140 & 0.7120 as targets...

Pivot (invalidation): 1.3240 Our preference Long positions above 1.3240 with targets at 1.3285 & 1.3305 in extension. Alternative scenario Below 1.3240 look for further downside with 1.3215 & 1.3200 as targets...

Pivot (invalidation): 0.9935 Our preference Long positions above 0.9935 with targets at 0.9960 & 0.9975 in extension. Alternative scenario Below 0.9935 look for further downside with 0.9920 & 0.9900 as targets...

Pivot (invalidation): 109.25 Our preference Long positions above 109.25 with targets at 109.55 & 109.70 in extension. Alternative scenario Below 109.25 look for further downside with 109.10 & 108.90 as targets...

Pivot (invalidation): 1.3120 Our preference Short positions below 1.3120 with targets at 1.3055 & 1.3015 in extension. Alternative scenario Above 1.3120 look for further upside with 1.3170 & 1.3200 as targets...

Pivot (invalidation): 1.1415 Our preference Long positions above 1.1415 with targets at 1.1450 & 1.1480 in extension. Alternative scenario Below 1.1415 look for further downside with 1.1390 & 1.1370 as targets...

In the UK, the House of Commons votes today on a second version of the Brexit deal. By most accounts it will also be rejected. Brexit fatigue is setting in. The high probability trade is of a compromise, resulting in a softer Brexit...

Markets seems less concerned with EUR/GBP and GBP/USD as 1-month volatility remains low. The European Central Bank is cautious, expected to launch new liquidity facility. While it is not directly focused on Brexit risk, it does help backstop overall European risk...

Despite a 2018 that included trade sanction escalations, a sharp drop in emerging currencies, fears of a global economic slowdown and a hawkish Fed, Swiss exports reached CHF 233.1 billion (+5.70%), a new record and the highest percentage gain since 2010...