Why the charts point to $1.82 for GBP & who will win in the euro’s War of Thrones
June 26, 2014 12:46 pm
Charting the markets: The most coveted currency among traders, but can cable’s rally continue? Technical Analyst Nicole Elliott says there is a really big stumbling block around $1.70. She wants to see it close comfortably above that level on June 30 before she can be confident the bull run will continue. If it does then Elliott is targeting $1.82 for the end of the year. Elliott describes the battle for direction on the euro between the hammer and shooting star as a war of thrones, but which will win? When it comes to bonds Elliott sees bund prices going to record highs. She says the rule of 8 plays out on the S&P indicating a sudden correction is due, down to around 1850. Elliott also sees the FTSE dropping to the bottom of the ichimoku cloud around 6400, but she wouldn’t be a buyer unless it fell to 6000.
Charting the markets:
The most coveted currency among traders, but can cable’s rally continue? Technical Analyst Nicole Elliott says there is a really big stumbling block around $1.70. She wants to see it close comfortably above that level on June 30 before she can be confident the bull run will continue. If it does then Elliott is targeting $1.82 for the end of the year.
Elliott describes the battle for direction on the euro between the hammer and shooting star as a war of thrones, but which will win?
When it comes to bonds Elliott sees bund prices going to record highs.
She says the rule of 8 plays out on the S&P indicating a sudden correction is due, down to around 1850.
Elliott also sees the FTSE dropping to the bottom of the ichimoku cloud around 6400, but she wouldn’t be a buyer unless it fell to 6000.
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