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).
تفسير مراحل الذهبMar 17, 2023 21:28 | by Ashraf Laidi.
Dax 200 MA ExtensionJan 11, 2023 10:57 | by Ashraf LaidiIf the DAX40 maintains its habit of extending 13% above its 200 DMA, then current upside may extend to as high as 15300, just below the 76% retracement of the decline from the Jan 2022 high to...
DXY & CNHDec 6, 2022 14:34 | by Ashraf LaidiWe know the DXY is highly correlated with USD/CNH so if the Head-&-Shoulder on USD/CNH formation proves valid, then further USD downside lies ahead. ..