Dentalfloss
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OIl...overbought
Trading with point and figure
- Thread starter Dentalfloss
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Dentalfloss
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support looming
Atilla
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Same here Dentist, your thread is always a good read on a weekend. Thank you kindly.
Charts always enlightening and clear wrt levels.
I'm still expecting Cable, what with all the Brexit noise to test 1.32-33 levels. Oil and US TBill yields rising doesn't help sterling either, more pressure for it to fall.
This should similarly effect FTSE in a positive light and wouldn't be surprised if that tests 8000 soon either.
That's my tuppence worth.
Charts always enlightening and clear wrt levels.
I'm still expecting Cable, what with all the Brexit noise to test 1.32-33 levels. Oil and US TBill yields rising doesn't help sterling either, more pressure for it to fall.
This should similarly effect FTSE in a positive light and wouldn't be surprised if that tests 8000 soon either.
That's my tuppence worth.
Cable
if our 1.3440 supp area fails...then wide supp area underneath
1.3400..it starts after 1.3420..ish
Last edited:
C
cantagril
Sir Canta
EG
0.8720 should be a strong supp area
has not printed on our chart as yet...as 4 reversal/needs 4 boxes
if it breaks...bulls dont want to see that as rez on a bounce from 0.8680
a bad bounce off 0.8720...then sellers in
Morning,
I have the .8715/50 as a large mess of indecision...and that's just me
I do think that the struggle will go on for a while longer with the £ and € neck and neck in the race southward. When that's got boring it'll be some minor event/news that'll trigger a breakout of the current range...15m chart bearishMeanwhile, I note that my EG/GBPCHF position is well underwater - in retrospect that 50 pip profit was probably as good as it was ever going to get.
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Dentalfloss
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French,germany and swiss bank holiday
C
cantagril
...don't forget Navy Day in Chile
Dentalfloss
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...don't forget Navy Day in Chile
it gets chilly in Chile
:smart::smart::smart::smart::smart:
Dentalfloss
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- Whit Monday holiday in Europe to thin volumes on a nothing day for data,
leaving the focus on a smattering of central bank speakers; rate
decision in Ghana finely balanced
..........................................................................
********************
** EVENTS PREVIEW **
********************
'Nothing burger' covers today's upcoming agenda, with the largely as expected Japanese Trade data eminently subordinate to the news that the US has suspended the imposition of tariffs on Chinese imports, in a gesture of good will, which can only be welcomed given the Trump regime's normally very belligerent posturing. There are a few ECB and Fed speakers, but they are unlikely to offer anything new in terms of policy perspectives. In the EM space, the consensus sees scope for Ghana's central bank to cut rates by a further 50 bps to a still very high 17.50% (vs. a peak of 26.0%), though the weakening Cedi (GHC) would appear to limit the central bank's room for manoeuvre, even if with CPI dropping to 9.6% y/y in April from 10.4%, real rates look to be rather too high.
RECAP: The Week Ahead - Preview: 21 to 25 May 2018 2018
The schedule for the upcoming week is relatively modest, with the exception of the UK, which has CPI, PPI, House Prices, Retail Sales, revised Q1 GDP, PSNB and both CBI surveys. Elsewhere flash PMIs and a plethora of surveys (including Germany's Ifo) feature alongside US Durable Orders, New & Existing Home Sales & the May FOMC minutes, while Japan looks to Trade and Tokyo CPI. All of which amounts to not very much, and will thus have the markets' chattering classes continuing to focus on Italian politics; China, Asia, EU, NAFTA trade tensions with the US, and the Brexit saga which still looks like a dog spinning round and round trying to bite its own tail, as well as the seemingly inevitable collapse of the Iran/G8 JCPOA nuclear deal. Venezuela's elections will also be closely watched, even if that will not arrest its precipitous and ever deeper fall into economic hell. Next week is also a very chunky week for US debt issuance (ca $270 Bln total): $99 bln of T-Notes, $16 Bln of 2-yr FRN and $ 116 Bln of 3, 6 & 12-mth Bills are confirmed, and an estimated $45 Bln of 1-mth Bills are likely to be confirmed next Monday.
- Statistically, UK CPI is seen unchanged at 2.5% y/y in headline terms and core CPI a fraction lower at 2.2% (vs. March 2.3%). By contrast, upward pressures from energy and raw materials prices will likely be the main drivers of a projected 1.1% m/m in PPI Input to jump the y/y rate back up to 5.8% from 4.2%; that said PPI Output is seen barely changed and subdued at 0.3% m/m 2.3% y/y (vs. March 2.4%). PSNB / budget data for the start of any fiscal year are above all noisy, and often more about the revision to Q1 readings than anything else, but for what it is worth the April deficit is seen at a marginally improved £-7.1 Bln vs. April 2017's £-7.5 Bln. The first detailed UK Q1 GDP data are seen un revised in headline terms at a very sluggish 0.1% q/q 1.2% y/y, with Private Consumption forecast at 0.1% q/q, Gross Fixed Capital Formation at -0.2% q/q and Govt Spending unchanged at 0.4% q/q. The breakdown for German Q1 GDP is expected to show sluggish Private Consumption (0.2%q/q), solid CapEx (1.1% q/q) and Construction Investment (1.0% q/q), and Govt Spending falling 0.2% q/q, while the Ifo Business Climate is forecast to be little changed at 102.1. Flash PMIs for the Eurozone, Japan and USA along with the CBI Industrial Trends survey are seen little changed vs. March, more than likely reflecting the usual level of agnosticism rather than anything else. US Existing and New Home Sales are both expected to dip after strength in March, but are always good for a surprise that should not be over-interpreted, while the ever volatile Durable Goods Orders are forecast to drop 1.4% m/m after surging 2.6% in March, while the core measures are expected to bounce from sluggish March prints: ex-Transport 0.5% (March 0.1%) & Non-defence Capital Goods ex-Aircraft 0.7% m/m (March -0.4%). In Japan, Exports and Imports are seen rebounding to 8.7% and 9.8% y/y respectively (predicated on the assumption that the March weakness related to lunar new year & base effects), while May Tokyo CPI is assumed to be unchanged at 0.5% y/y headline and 0.3% y/y ex-Food & Energy, i.e. very far away from the BoJ's 2.0% target.
- Another very busy week for Fed, ECB, BoE, RBA and Riksbank speakers also has minutes from the most recent Fed and ECB meetings to digest. In respect of the Fed, the key aspects will be the discussions around the potential end point for the current tightening cycle, both in nominal & real terms and whether it should be neutral or slightly restrictive, as well as the debate around whether the current inflation target is "appropriate", again not only in nominal terms, but also in respect of the topic of being 'symmetric', and by extension relative elasticity. The Bank of Korea is seen on hold again at 1.50%, the more so given recent BoK comments that the relatively weak level of labour demand is hardly an encouraging signal on the economic outlook. In the EM space, policy meetings in Colombia, Nigeria, Paraguay, South Africa and Ukraine appear likely to maintain rates at unchanged levels. By contrast the consensus sees scope for Ghana's central bank to cut rates by a further 50 bps to a still very high 17.50% (vs. a peak of 26.0%), though the weakening Cedi (GHC) would appear to limit the central bank's room for manoeuvre, even if with CPI dropping to 9.6% y/y in April from 10.4%, real rates look to be rather too high.
- The corporate earnings season is largely complete, with consumer related stocks dominating the US schedule. Highlights are likely to include: Bosch, Gap, Hewlett-Packard, Marks & Spencer, Ryanair, Tata Motors, Target, TJX and Toll Brothers.
from Marc Ostwald
leaving the focus on a smattering of central bank speakers; rate
decision in Ghana finely balanced
..........................................................................
********************
** EVENTS PREVIEW **
********************
'Nothing burger' covers today's upcoming agenda, with the largely as expected Japanese Trade data eminently subordinate to the news that the US has suspended the imposition of tariffs on Chinese imports, in a gesture of good will, which can only be welcomed given the Trump regime's normally very belligerent posturing. There are a few ECB and Fed speakers, but they are unlikely to offer anything new in terms of policy perspectives. In the EM space, the consensus sees scope for Ghana's central bank to cut rates by a further 50 bps to a still very high 17.50% (vs. a peak of 26.0%), though the weakening Cedi (GHC) would appear to limit the central bank's room for manoeuvre, even if with CPI dropping to 9.6% y/y in April from 10.4%, real rates look to be rather too high.
RECAP: The Week Ahead - Preview: 21 to 25 May 2018 2018
The schedule for the upcoming week is relatively modest, with the exception of the UK, which has CPI, PPI, House Prices, Retail Sales, revised Q1 GDP, PSNB and both CBI surveys. Elsewhere flash PMIs and a plethora of surveys (including Germany's Ifo) feature alongside US Durable Orders, New & Existing Home Sales & the May FOMC minutes, while Japan looks to Trade and Tokyo CPI. All of which amounts to not very much, and will thus have the markets' chattering classes continuing to focus on Italian politics; China, Asia, EU, NAFTA trade tensions with the US, and the Brexit saga which still looks like a dog spinning round and round trying to bite its own tail, as well as the seemingly inevitable collapse of the Iran/G8 JCPOA nuclear deal. Venezuela's elections will also be closely watched, even if that will not arrest its precipitous and ever deeper fall into economic hell. Next week is also a very chunky week for US debt issuance (ca $270 Bln total): $99 bln of T-Notes, $16 Bln of 2-yr FRN and $ 116 Bln of 3, 6 & 12-mth Bills are confirmed, and an estimated $45 Bln of 1-mth Bills are likely to be confirmed next Monday.
- Statistically, UK CPI is seen unchanged at 2.5% y/y in headline terms and core CPI a fraction lower at 2.2% (vs. March 2.3%). By contrast, upward pressures from energy and raw materials prices will likely be the main drivers of a projected 1.1% m/m in PPI Input to jump the y/y rate back up to 5.8% from 4.2%; that said PPI Output is seen barely changed and subdued at 0.3% m/m 2.3% y/y (vs. March 2.4%). PSNB / budget data for the start of any fiscal year are above all noisy, and often more about the revision to Q1 readings than anything else, but for what it is worth the April deficit is seen at a marginally improved £-7.1 Bln vs. April 2017's £-7.5 Bln. The first detailed UK Q1 GDP data are seen un revised in headline terms at a very sluggish 0.1% q/q 1.2% y/y, with Private Consumption forecast at 0.1% q/q, Gross Fixed Capital Formation at -0.2% q/q and Govt Spending unchanged at 0.4% q/q. The breakdown for German Q1 GDP is expected to show sluggish Private Consumption (0.2%q/q), solid CapEx (1.1% q/q) and Construction Investment (1.0% q/q), and Govt Spending falling 0.2% q/q, while the Ifo Business Climate is forecast to be little changed at 102.1. Flash PMIs for the Eurozone, Japan and USA along with the CBI Industrial Trends survey are seen little changed vs. March, more than likely reflecting the usual level of agnosticism rather than anything else. US Existing and New Home Sales are both expected to dip after strength in March, but are always good for a surprise that should not be over-interpreted, while the ever volatile Durable Goods Orders are forecast to drop 1.4% m/m after surging 2.6% in March, while the core measures are expected to bounce from sluggish March prints: ex-Transport 0.5% (March 0.1%) & Non-defence Capital Goods ex-Aircraft 0.7% m/m (March -0.4%). In Japan, Exports and Imports are seen rebounding to 8.7% and 9.8% y/y respectively (predicated on the assumption that the March weakness related to lunar new year & base effects), while May Tokyo CPI is assumed to be unchanged at 0.5% y/y headline and 0.3% y/y ex-Food & Energy, i.e. very far away from the BoJ's 2.0% target.
- Another very busy week for Fed, ECB, BoE, RBA and Riksbank speakers also has minutes from the most recent Fed and ECB meetings to digest. In respect of the Fed, the key aspects will be the discussions around the potential end point for the current tightening cycle, both in nominal & real terms and whether it should be neutral or slightly restrictive, as well as the debate around whether the current inflation target is "appropriate", again not only in nominal terms, but also in respect of the topic of being 'symmetric', and by extension relative elasticity. The Bank of Korea is seen on hold again at 1.50%, the more so given recent BoK comments that the relatively weak level of labour demand is hardly an encouraging signal on the economic outlook. In the EM space, policy meetings in Colombia, Nigeria, Paraguay, South Africa and Ukraine appear likely to maintain rates at unchanged levels. By contrast the consensus sees scope for Ghana's central bank to cut rates by a further 50 bps to a still very high 17.50% (vs. a peak of 26.0%), though the weakening Cedi (GHC) would appear to limit the central bank's room for manoeuvre, even if with CPI dropping to 9.6% y/y in April from 10.4%, real rates look to be rather too high.
- The corporate earnings season is largely complete, with consumer related stocks dominating the US schedule. Highlights are likely to include: Bosch, Gap, Hewlett-Packard, Marks & Spencer, Ryanair, Tata Motors, Target, TJX and Toll Brothers.
from Marc Ostwald
Dentalfloss
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ftse ,oil overbought
do the bulls have cahonas to take it higher
do the bulls have cahonas to take it higher
Dentalfloss
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dollar massively overbought
usdjpy in our dog zone/Friday"s chart
eurusd in mega support
cable in support
dax above our 13100...in rez now
usdjpy in our dog zone/Friday"s chart
eurusd in mega support
cable in support
dax above our 13100...in rez now
Dentalfloss
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spx
our chart updated
our chart updated
Dentalfloss
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new pivot area added
Dentalfloss
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can the bulls keep it above our pivot ..??
Dentalfloss
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ftse lining up 7840 for a pump or dump
Dentalfloss
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eurusd 1.1745 pivot area being tested
Dentalfloss
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our 1.3392 area workin well this mornngCable
if our 1.3440 supp area fails...then wide supp area underneath
1.3400..it starts after 1.3420..ish
Dentalfloss
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Dentalfloss
Legendary member
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Dentalfloss
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yes sir
