The above is a simple EURUSD chart with classical fib’s. One must admit that these levels , have some influence on prices. Fibonacci is an art that very few master and I am not one of them. William Blount, one of the rare, can be followed on the IM.
One cannot help notice that the pattern that is evolving is the opposite of Feb.-March, and that the level of 1.3150 is important. Should, EUR USD make a serious push above it, my target would be 1.35, a price I mentioned some time ago. This would mean that the S&P takes out 1475 by month end.
We are currently long EURUSD, EURJPY with a target in the area of 106-107, USDJPY with no target, but as a hedge for some nasty development in the Middle East ( My view is too biased, to make any serious call), Deutsche Bank, with a target of € 40, Commerzbank with a target of €2 , Mitsui OSK Lines with a target of JPY 400, to name a few.
Should such a bull run take place, Hong Kong will probably outperform. It has the right combination of growth and value. Some names to look at: Anhui Expressway 0995 , HKD 3.65, Hiniyi Glass Holding, 0868, HKD 4.39, Wynn Macau 1128 , HKD 20.95.
PP 1.30835, R1 1.31127, R2 1.31557, R3 1.3228
S1 1.3039, S2 1.30113, S3 1.2939