Sample Category Title

Pivot (invalidation): 11200.00

Our preference Long positions above 11200.00 with targets at 11440.00 & 11525.00 in extension.

Alternative scenario Below 11200.00 look for further downside with 11050.00 & 10940.00 as targets.

Comment The break above 11200.00 is a positive signal that has opened a path to 11440.00.

Swiss KOF Economic Barometer dropped to 100.1 in October, down from 102.2 and missed expectation of 100.8. It sits just above long-term average of 100, and suggests that the Swiss economy is likely to "grow with average rates" in the coming months.

KOF noted that the "decline is quite broadly visible in various indicator bundles." But the fall in manufacturing sector is "particularly striking". And inside the sector, "downward tendency was led by the machinery and vehicle manufacturers as well as the chemicals, pharmaceuticals and plastics industry".

Full release here.

Pivot (invalidation): 5.5700

Our preference Short positions below 5.5700 with targets at 5.5300 & 5.5000 in extension.

Alternative scenario Above 5.5700 look for further upside with 5.5960 & 5.6400 as targets.

Comment The index currently faces a challenging resistance area at 5.5700.

Pivot (invalidation): 0.7065

Our preference Long positions above 0.7065 with targets at 0.7105 & 0.7120 in extension.

Alternative scenario Below 0.7065 look for further downside with 0.7050 & 0.7035 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 1.3135

Our preference Short positions below 1.3135 with targets at 1.3080 & 1.3065 in extension.

Alternative scenario Above 1.3135 look for further upside with 1.3160 & 1.3180 as targets.

Comment The RSI has just broken below a rising trend line.

Pivot (invalidation): 1.0005

Our preference Long positions above 1.0005 with targets at 1.0025 & 1.0045 in extension.

Alternative scenario Below 1.0005 look for further downside with 0.9985 & 0.9970 as targets.

Comment The RSI is bullish and calls for further upside.

French GDP rose by 0.4% qoq in Q3, accelrated from Q2's 0.2% qoq, matched expectations.

• GDP in volume terms accelerated slightly: +0.4% after +0.2%.
• Household consumption expenditures recovered (+0.5% after −0.1%).
• Total gross fixed capital formation grew almost as quickly as in the previous quarter (GFCF: +0.8% after +0.9%).
• Overall, final domestic demand excluding inventory changes accelerated: it contributed 0.5 points to GDP growth, after 0.2 points in the previous quarter.
• Imports slowed down in Q3 (+0.3% after +0.7%), whereas exports accelerated (+0.7% after +0.1%).
• All in all, foreign trade balance contributed positively to GDP growth, +0.1 points, after −0.2 points in Q2.
• Conversely, changes in inventories contributed negatively to GDP growth (−0.2 points after +0.2 points).

Full release here.

Pivot (invalidation): 112.40

Our preference Long positions above 112.40 with targets at 112.90 & 113.10 in extension.

Alternative scenario Below 112.40 look for further downside with 112.20 & 112.00 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 1.2830

Our preference Short positions below 1.2830 with targets at 1.2790 & 1.2775 in extension.

Alternative scenario Above 1.2830 look for further upside with 1.2855 & 1.2875 as targets.

Comment Technically the RSI is below its neutrality area at 50.

Pivot (invalidation): 1.1395

Our preference Short positions below 1.1395 with targets at 1.1365 & 1.1335 in extension.

Alternative scenario Above 1.1395 look for further upside with 1.1420 & 1.1445 as targets.

Comment As Long as the resistance at 1.1395 is not surpassed, the risk of the break below 1.1365 remains high.