Matt Simpson, CFTe, MSTA
CityIndex
A snapshot view of yesterday’s New York - London session with technical notes.
BoE Votes show no change in the stance for interest rate rises - all coma in unanimously to remain on hold. However in the following statement Carney stated rate rises are drawing closer. Mortgage approvals remained steady but Retail Sales fell short of expectations at +0.1% vs +0.3% forecast. This saw GBP sell off early London trading but recover losses through the session.
S&P500 closes at record highs following positive earnings
VIX (fear gauge) retreats further and now sits at similar levels pre Malaysian Flight MH17 crashed
FOREX:
DXY Rikshaw Man Doji warns of sideways trading; Intraday shows potential for a bearish wedge to form (and create new highs) prior to retracement
AUDUSD Back above 94c but meandering around 0.945; Expecting a pullback but open to the idea of gain above 0.945
EURUSD Trades cautiously sideways; Bias is for a 'pop' higher towards 1.35 before losses resume
GBPUSD Edges lower but closed on 1.704 support; Seeking buy setups above 1.07
USDCAD Continues to hover above 1.07 with potential base forming to an upside break above bearish trendline from March '12 highs
USDCHF Rikshaw Man Doji warns of sideways trading, lower volume makes it less likely to be a retracement
USDJPY Neutral bias on D1
NZDUSD Bearish bias below 0.8650 on D1; See today's post for technical levels
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