Short recap
Asia in red on NoKo and S&P downgrade
of China (outlook stable) and Hong Kong (outlook
negative). S&P not comfortable with Chinese still strong credit growth
Europe opening lower
Speculation that NoKo will test powerful hydrogen
bomb in Pacific
PBOC asked Chinese banks to stop cooperating with NoKo
Equities
Lufthansa to absorb largest part of AirBerlin’s
assets
While easyJet should get some too
Stronger EUR weighting on DAX
12 500 to be tested again
B&N Bank carrying a USD 6 bln hole on its
balance sheet
Apple still under the pressure as investors
question the new product range
If not comfortable, can eventually test 142 level (200
DMA)
Support at 153 (50.0% Fibo/100 DMA), 150 (61.8% Fibo)
Resistance at 156 (38.2% Fibo), 157 (50 DMA), 159 (23.6%
Fibo)
Bonds
10-yr Trys yield at 2.25% vs 2.27% yesterday
10-yr Bund yield at 0.46% vs 0.45% yesterday
DXY
Heavy on USDJPY decline
Still not able to detach from current congestion zone
After FOMC pullback much stronger then in EURUSD
Why not following through and moving higher?
EURUSD
If decisive move above 1.2000, we may see more gains
Strong support zone 1.1870/80
Support provided also from rising trendline (since April)
and 1.1862 (23.6% Fibo)
Next levels 1.1819 (50 DMA), 1.1727 (200 WMA), 1.1720
(38.2% Fibo)
Resistance at 1.1941 (10 DMA), 1.1945 (55 HMA)
Large options expiring at 1.1925 (EUR 1 bln), 1.1950-75
(EUR 1.9 bln), 1.2000 (EUR 1.4 bln)
With more above 1.2000 level that can play in
Is the 1.2500 a target before correcting below parity
like in 1998?
USDJPY
Resistance at 112.18 (200 DMA), 112.71
Offers starting at 112.50 on
Expiring option (USD 1.7 bln) at 112.00 may attract the
cross
Support at 111.60 Ichimoku, 111.43 (23.6% Fibo),
descending trendline
Gold
Support at 1295, 1281 (50.0% Fibo)
Resistance 1299 (38.2% Fibo), 1300, ascending trendline
All critical levels for further medium term direction
Data/events
ECB’s Coeure (0715
GMT)
ECB’s Draghi (0800
& 0930 GMT)
Fed’s Williams
(1000 GMT)
ECB’s Constancio
(1115 & 1315 GMT)
Fed’s George (1330
GMT)
Fed’s Kaplan (1730
GMT)
Brexit – a major speech from May (1900
GMT)
Is UK sort of
reshuffling priorities or looking to reset the talks?
Rumours UK ready to
pay EUR 20 bln a year for market access
EU’s Barnier to
respond shortly after May’s
speech
Sunday – German
elections
How strong the
grand coalition will be?
Sep 26 Yellen
speaking about inflation and monetary policy
Oct 18 – China
National Congress
Oct 22 – Japanese
elections
Oct 26 ECB
Should you have any questions feel free to contact me
anytime.
Good luck Champs!
Mr Hawk
DISCLAIMER: This material was created for informational
purposes only and represents the Land of Trading team’s view of the past and
current economic and capital market environment. It is not an investment advice
and should not be viewed that way at all, and the creators of this material
cannot be held liable for any potential losses resulting from trading, where
despite this disclaimer someone would consider this material as an investment
advice. All rights reserved ©2016. Contact: landoftradingATgmailDOTcom
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