FX Breakout Monitor September 24 2019
Head of FX Strategy
Summary: The FX Breakout Monitor is registering few breakouts at the moment, with no fresh breakouts on the menu outside of extension of recent trends. Sterling has moved a bit today on today's UK Supreme Court decision nullifying Boris Johnson's suspension of parliament.
The FX Breakout Monitor is back, and it is expanded with "autosignals" that show examples of how to trade new breakouts, defined as new 19-day high or low closes not preceded by a breakout in the same direction in the prior week. Click on the link below for a look at the full PDF of the table overview and the Recent New Breakouts tables. See further below for a couple of chart highlights related to today's monitor.
Today's Chart Highlight: GBPUSD
Today we highlight GBPUSD, which remains close to the pivotal 1.2500 area after a recent false start higher through that level last week. Today's decision by the Supreme Court effectively annuls Boris Johnson's move to prorogue, or suspend Parliament, and is seen as reducing hard Brexit odds. A bit of USD weakness today has helped at the margin, but the market needs to firmly take out this 1.2500 area to set the focus higher still. Note that a new high close today (above the high prior close f would not result in a GBPUSD long showing up on the "autosignal" list in the PDF because not enough time (four prior trading days with no prior signals) has transpired.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.