2 days before the ECB meeting, ECB pres Draghi is expected to meet with Bundesbank president Weidmann. Will it be to discuss the possibility of restarting the securities markets programme to buy Spanish and Italian bonds, a program widely opposed by the Germans. Draghi's. While Wednesday's FOMC decision is expected to produce no call for action from the Fed regarding QE3, the ECB may reiterate its readiness to restart the SMP, but no as soon as this week. Spanish and Italian 10 year govt yields are 10-15% off their highs, while G10 equities are only 3-5% below their 2012 highs. For tradable ideas on EURUSD, AUDUSD, GBPUSD, gold and silver, see Monday's Premium Insights here: http://ashraflaidi.com/products/sub01/access/?a=670 Non subscribers can join here:http://ashraflaidi.com/products/sub01/
We have seen how Nasdaq100 peaked at the 19% extension from its 200-day moving average, before tumbling 6%. The 19% pattern was referred to in this video. The market will likely hold above the 28000 support--underlined by the May 6 gap-- and capped by the 29700 resistance, highlighted by the May 26 Gap. More details to members of the WhatsApp Bdcst Group.
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Latest Hot-Chart - Jun 02
Gold Not in a Hurry
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