Whoever keeps the moving averages on watch have certainly observed that the parity has stepped above the 21-DMA (see chart below). For several months, shorters have been keen on watching this moving average which has provided a resistance for the parity. 29 more words
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This morning, the cable experienced a new highest after the release of the manufacturing PMI, scoring 55,4, although the market had anticipated 57,2. The parity got sold off and, for the first time this year, the 100DMA has been reached at 1,6861 (see chart below). 36 more words
Les techniciens des moyennes mobiles auront certainement observé le passage au-dessus de la 21-DMA (voir graphique ci-dessous). Depuis plusieurs mois, Les shorters avaient pris pour habitude de regarder cette moyenne mobile qui a servi de résistance. 38 more words
This afternoon, the Markit Mfg PMI came out weaker at 55.4 versus forecast of 57.2 and lower than previous month of 57.2.
What is comforting is that the manufacturing PMI has been posting above 50 levels since this year. 36 more words
On 22 July, my technicals suggested to me that I should long the EURUSD, so I bought a call option expiring 8 August, strike at 1.3485, premium of 65bps and a breakeven of 1.3550. 24 more words