A global bonds selloff has pushed yields up across the board towards post-Brexit highs while the anti-establishment wave sweeping the western world could force a 'No' vote on the Italian referendum in December.
Squawk / 18 September 2016 at 17:19 GMT
Trader, Analyst / Individual Trader
WEEK 38 (19.09.2016 - 25.09.2016) [EURUSD][FUS500][USDJPY]

EURUSD finished the week around projected area, almost touched my target 1.1146. Sadly it happened on thin market, that is why I cannot tell anything about significance of the resistance.
The beginning of next week might not tell us more as any PA could be overshadowed by the incoming FOMC.

In globalised world and interconnected economies divergence in monetary policy cannot last more than short term.
We either get rate hike, economic boom in the US and the rest of the world(that would also mean tapering in Euro zone) or no rate hike, slowing US economy and higher chances of QE expansion in Euro zone.

I see USD weakening in both scenarios as divergence gap in mon pol would decline.

Short Term: Waiting for FOMC
Medium Term: 1.0480-90
Long Term: None

Short Term: Waiting for FOMC
Medium Term: 2080-90
Long Term: Lower limit 1875

Short Term: Waiting for FOMC
Medium Term: None
Long Term: Lower limit 98.60-70


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