Trends and Targets for 12/03/2019

EURUSD #GOLD #SP500 There’s nothing quite like a “profit warning” to jolly up a shares performance and we wonder, if Brexit ever takes place, will the Euro actually suffer? Given the UK is one of the larger contributors to the EU, will the loss of this income stream hurt how the Euro is perceived?

At present, the answer appears to be yes.

Presently trading at 1.123, the pairing need only relax below 1.118 to enter a phase where relaxation to an initial 1.10 appears probable. If broken, our longer term secondary calculates at 1.065. If triggered, the relationship shall require above Blue (1.142 presently) to cancel the drop potentials.

The big issue comes, should 1.065 make an appearance as this visually represents a challenge of the long term uptrend. Movement below this trend is liable to prove extremely dangerous with parity showing as the first port of call, certainly representing a price level where some sort of rebound shall make sense. The danger lurks in one of our favoured mindsets as the pairing will provoke a “lower low”, finding itself trading in a region where the ultimate bottom is at 0.77.

 

As always, there’s a chance we’re just being panic merchants with such a foul outlook. Unfortunately, the pair requires recovery above 1.14 just to give early warning of a change of mood, this allowing for an initial 1.17 with secondary, a rather less likely 1.230.

For now, we suspect 1.065 shall eventually make an appearance.

Chart goes here

 

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:29:17PM

BRENT

66.62

‘cess

10:34:12PM

GOLD

1293.71

1290

1287

1283

1297

1300.81

1303.39

1311

1290

10:35:41PM

FTSE

7137.44

‘cess

10:37:35PM

FRANCE

5282

Success

10:38:53PM

GERMANY

11597.61

Success

10:40:32PM

US500

2786.32

2737

2723.5

2702

2775

2788

2802

2829

2763

Success

10:48:32PM

DOW

25692

‘cess

10:49:58PM

NASDAQ

7172.87

Success

10:51:54PM

JAPAN

21352

Success

 

 

11/03/2019 FTSE Closed at 7130 points. Change of 0.37%. Total value traded through LSE was: £ 4,722,810,158 a change of -37.12%

 

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