IIFT Daily Note with Peter Brown

Markets rally strongly, Japan leads.

Posted by:  |  Time: 7:39 am  |  Topic:  |  Comments: 2
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All good news this morning. Dovish FOMC. Powering Asian markets and some good news from The Ukraine. Suddenly is a buying spree. the correction guys look wrong again. Market seems very solid to me. Will we see new year highs? Plenty of news releases this morning to keep the volatility going. Markets may be a bit high first thing but mood is definitely positive.

Euro got a hit yesterday after USD/JPY rallied off the low at 100.80. Continued dollar buying overnight will probably lead to a further fall in the EUR/USD again today. We may see 1.3600 tested.

While the equity markets are in this mood go with the flow.

Conditions today are Choppy

Levels are:- S&P (JUN) 1898  1884  Wall St (DFB) 16615  16475  DAX (DFB) 9800  9665  Euro 1.3700  1.3640  Gold 1305  1285



May 22, 2014


Hi Peter
Question for you. We both use the ig platform, however there had been a number of posts on fx live about institutional buyers coming in at the 200 dma. On the chart of euro dollar the 200 dma was busted yesterday, yet on screen shots of some posts it appears to have held. I understand the difference between ema and simple but was a little confused when analysing last night. Thanks in advance

Peter Brown

May 22, 2014


Hi James,

I agree it was busted.
Some times the market does not regard it as broken until we close below the line.

That may be it.