Bovespa, Sensex & Cable
Sterlings failure to breach above the $1.6730 right shoulder in the H&S formation following the unexpected decline in Q3 GDP should help call up $1.63 and $1.6210. GBP could especially lose more ground in the event of upcoming risk aversion as equities near key technical levels. While the S&P500 is nearing the 50% retracement of the decline from its all time high to March lows; emerging market indices such as Brazils Bovespa and Indias Sensex are struggling (see charts below). WATCH A POTENTIAL DOJI CANDLE in the WEEKLY BOVESPA and ENGULFING BEARISH CANDLE in the SENSEX. Any prolonged retreat in these indices would cause a drying up of liquidity from emerging markets to the benefit of the USD (at expense of GBP).
Nov 18, 2019 21:34 | by Ashraf LaidiThose who have shorted equity indices over the past 3 weeks (like I have) were simply wrong.
Oct 16, 2019 15:08 | by Ashraf LaidiAs GBP becomes the 2nd highest performing currency in the G10 since the start of the year, posting daily gains not seen in 10 years, here is a look at the current yields situation, with GBP...
Sep 2, 2019 20:21 | by Ashraf LaidiSome subscribers complained that last Tuesday's Premium trade (Aug 27) shorting the DAX30 was issued too early in the morning (many did not hear the SMS, see the email, Tweet or Telegram...