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Zed Extreme During laning phase it's crucial that you are able to dodge Zeds (Q) Razor Shuriken. This is how he will get the majority of damage onto you for pre level 6. Use your ball to your advantage and zone him as much as possible. If he is using his (Q) to farm minions, then he's not using it on you! It is possible to start with cloth armour if you feel the need to, it really depends on your ability to avoid skill-shots and keep yourself moving.
Take Exhaust or Barrier for this match-up. After level 6, due to his incredible burst damage he will become a problem. An early seekers armguard can go a long way, you don't have to upgrade it to Zhonyas Hourglass right away, but remember that Zhonya's Hourglass will completely counter Zed's Ultimate. TIP: Don't Zhonya too early against Zed's ultimate as it's protection is shorter than the length of his (R) Death Mark's mark.
Syndra Extreme A good Syndra player will make this a very difficult lane to play. She has decent range and using her (E) Scatter the Weak can land a nice combo on you that will hit pretty hard. Use your (E) Command: Protect to soak up the damage from her early combos. She will try to bully you in lane and it will be difficult to trade with or zone her effectively. Prioritize farming in this lane and try your best to avoid her abilities.
Make no mistake, this is a difficult lane at the best of times, use your head and play safe. Starting boots & health pots is a solid option here and taking barrier will help against her all-in combo after lvl 6.
Ahri Major A decent Ahri can make this lane quiet difficult for you however I would call this more of a skill match-up than anything else. You should be able to poke her in lane and try zone her as much as possible. You will need to be quick on your feet though and dodge her skill-shots. Purchasing some early boots can help you with this and you could also consider taking 'celerity' rune. Remember her (Q) Orb of Deception will also do damage on the way back. After level 6 I think Ahri gets a decent advantage of Orianna and it can be very difficult to land your ultimate on her due to her (R) Spirit Rush as she can dash away from it and re-position quickly to gain the upperhand over you. It is crucial that you dodge her (E) Charm as if she lands it on you, you will likely take a LOT of damage or possible die (depending on your HP).
In the Mid/Late game she can kill you just as quickly as you can kill her, her mobility gives her a slight advantage though. Yasuo Extreme Due to his (E) Sweeping Blade, he is incredibly mobile which makes it very difficult for you to land your abilities on him as he can dash through minions (and you) consistently.
His (W) Wind Wall is able to stop your ball in it's tracks and he also has a shield from his passive. Make no mistake, this is a nightmare match-up for Orianna and a decent Yasuo player is going to make it seriously anti-fun! Take Exhaust or Barrier for this match-up and you can consider taking Ninja Tabi's depending on the rest of the enemy team comp, if Top or Jungle is an AD champ too - go for it. An early seekers armguard can go a long way, you don't have to upgrade it to Zhonyas Hourglass right away.
You will need to dodge his Whirlwind often and this is crucial after level 6 as he will then use it to pop his ultimate (R) Last Breadth on you. Concentrate on farming and use your jungler to your advantage, hopefully it's someone with plenty of CC.
Diana Extreme Because Dianna is a melee champion it's possible for you to make things difficult for her in the early levels. You should try your best to zone her with your ball as much as possible and every opportunity you get, hit her with an AA. After level 6, Diana will become a handful to play against so make sure to use the early levels to deny her as much CS as possible and therefore delaying her items. She has no real escape so is susceptible to ganks, take advantage of this and call for jungle help if she overextends. Rod of Ages is a solid first item against Diana. You should take Barrier or Exhaust as your summoner.
Ziggs Major Ziggs has a lot of range and considerable wave-clear and will most likley spam you with (Q) Bouncing Bomb and keep the lane pushed hard. If he manages to land his (W) Satchel Charge and place an (E) Hexplosive Minefield you can find yourself in a world of trouble. You really need to avoid his (E) Hexplosive Minefield as they will slow you a lot making it possible for him to land his other abilities. He's very immobile and only has his (W) Satchel Charge for escape potential, try to punish him if it's on cooldown - especially if your Jungler is around and able to gank.
Concentrate on farming, take Barrier and avoid his skill-shots. TIP: You take less damage from his ultimate if you are not standing in the center of it.
Talon Major Poke him as much as you can and zone him with your ball in the early levels. Take Barrier for this match-up as this will give you the best chance to survive his early attempts of killing you.
A sensible Talon will play passive in lane against you and will harass you with (W) Rake when you step forward. Talon is super at roaming and a decent one will do so at any given opportunity.
It can be difficult to keep up with him due to his ability to leap over walls so you will have to think quickly, warn your team and either follow him or push the lane etc. If he picks up a couple of kills (from you or from roaming) he will be difficult to deal with. After level 6 he can be difficult to all-in 100-0, this can be made a little bit easier when his ultimate (R) Shadow Assault is down, you might want to have jungle help to ensure a kill.
Xerath Major In the early levels there is not a whole lot to say, Xerath simply has an easier time than you. If you manage to trade with him you should be able to deal more damage, however your will use up more mana than him each time. His enormous range gives him a big advantage and your best option is to not bother trying to trade with him but to concentrate on farming instead. Try your best to avoid his poke and skill shots and be sure to make good use of your ball defensively (E). Early boots will be a solid buy in this match-up. Once it gets to late game, he will look to poke - you will need an engage, keep that in mind and look for openings. Kassadin Major Pre level 6 you can try to zone him and harass him with AA due to him being a melee champion.
His (Q) can be quiet annoying as it not only causes damage but gives him a shield against magic damage too. Try to zone him as much as possible early and bully him from his farm. You should try to make use of his pre 6 lack of mobility & call for some jungle help to abuse it. Once he reaches level 6 the real fun begins. Kassadin will likely roam now too so be sure to give your team a heads up if he goes missing or follow him if possible. Some magic resist will go a long way here, consider Merc Threads / Banshee's Veil.
Brand Minor It's important that you dodge his skill shots as if you dont, he will hurt you a LOT. Celerity is a good option against Brand and you can also go for a boots start instead of Dorans Ring. Consider going for a ROA in this match-up and if the enemy team-comp allows, a Zhonya's Hourglass can go a long way for saving your life multiple times. Be careful of his ultimate bouncing between you and your team-mates during ganks / skirmishes and team-fights. If he gets ahead of you by a few kills, you can be in for a touch time. Annie Minor Use your ball to zone Annie as much as you can but be mindful of yours and her mana reserves. By doing this, you can make it very difficult for Annie to farm and harder for her to harass you.
Your (E) can absorb a decent amount of Annies damage in the laning phase. You can try to punish her for being out of position but be careful when doing so and keep an eye on how many stun stacks she has. If you have taken barrier, combined with your (E) will really help you out if / when she tries to all in you after level 6. She will likely look for roams, be sure to either follow her or warn your team.
Anivia Even Mobility is your friend against Anivia. Early boots into Merc Treads can go a long way against her.
If you can avoid her (Q) Flash Frost, which moves pretty slowly then you should be able to zone her from the wave pre level 6. She is very squishy so you will have the ability to hurt her quiet a bit if you can land some harass on her. Be careful not to over-extend in lane because all it takes is a well placed (W) Crystallize when her jungler arrives to either blow your flash or kill you. Remember that her passive will turn her into an egg that after a few seconds will bring her back to life.
Don't tower-dive her for a kill when it's up, unless you are sure you can get the kill! Akali Even Pre 6, take advanatge of her weak early game.
You need to try to zone her from her farm and deny her as many creeps as possible. Be sure to make good use of your ball and every time she comes up to last hit a minion, harass her. Once Akali turns level 6+ and gets her Hextech Gunblade the trouble begins. She has a crazy amount of sustain due to her passive and gunblade, morellonomicon can help you to reduce her healing ability. As with any assassin, she will try to burst you down quickly and having some extra health can help you to survive this. ROA is a solid choice and Barrier as your second summoner spell.
Be mindful of her roaming to other lanes for kills! Cassiopeia Even This one is a skill match-up and can go either way depending on your knowledge or the enemies skill/familiarity with her. She deals a lot of damage early game so you need to be careful at all times. If you do not start with boots, be sure to pick them up as an early item as they will really help you to avoid her skill shots. If you turn your back to her when she uses her ultimate you will be slowed instead of stunned. She is very immobile and vulnerable to ganks, because of this playing the lane slowly and not pushing it can work to your advantage and allow you to call for some help from your jungler. Try not to give her early kills as this will make her difficult to deal with.
Fizz Even Try to harass, zone and bully him off his farm as much as possible - but be careful not to blow all your mana. Your (E) Command: Protect will allow you to sustain quiet a bit of his damage should he decide to make a move on you.
If you have taken barrier, this combined with your (E) will allow you to soak up the majority of his (R) Chum The Waters damage and combo. He might try to bait your (R) Command: Shockwave with a (Q) + (E) combo so be sure to not waste it until you are sure you can lock him down with it. Be careful not to over-extend if you do not know where his jungler is and be sure to ping your team when he is missing or else follow him around the map because if he cannot get kills from you he will roam for them!
Karma Minor Karma has pretty decent damage early game and if you combine this with her poke, she can put you in an awkward position and easily force you out of lane. Try to not trade with her at early levels as it's unlikely that you will come out on top. Starting boots & health pots is a viable option here but you will need to be extra careful with your mana management. If you dodge her skill-shots you will go a long way to winning this lane.
Prioritize farming and look for times that she is out of position to call for jungle help. The lane gets easier as the game progresses.
Karthus Tiny This is a pretty easy match-up for an Orianna. He has no real CC and will likely focus his efforts on farming instead of trying to kill you. It is important for you to dodge his (Q) Lay Waste as much as possible and dont be afraid to use your Command Attack to zone him. Be sure to let your teammates know when he turns 6, they likely wont care but at least you gave them a heads up. Use your Command: Protect on yourself (or an lower HP teammate) if he uses his (R). It is also possible for you to interrupt it with your (R) if he is still alive when he tries to ulti.
Orianna is what can be considered a 'control mage'. She has been a consistent champion for several seasons due to the amout of utility and power she can bring to any team composition. Her main weakness is the fact that she has lacking of any real excape and is pretty immobile.
This akes her susceptible to getting ganked and tower dived. She has a very high skill cap and it is not un-common to see new players losing track of her ball in skirmishes and teamfights and ulting in completely random places. You will need excelent positioning and the ability to make quick decisions/plays in order to excel as an Orianna player.
Orianna is a great champion that can follow up on other's engages especially should you have some diving champions on your team that you can place your ball on (for delievery of you ultimate) as they dive deep into the back line. She has the ability to come back into any game so long as you keep your mind focused and don't continue to fall behind or continuosly get caught as the game progresses. Laning phase is rarely terrible when playing and CS'ing is made easier by your passive.
She has very good wave clear and is rarely banned in ranked play. I hope you enjoy reading this guide and can perhaps learn a little bit of something from it.
Summon Aery: Is a strong pick for. It deals additional damage to a champion that you damage and will also strengthen your shield when you cast it on an ally. Aery lingers on the target for 2 second before flying back to you, and cannot be sent out again until she returns to you.
Aery is initially very slow, but gradually accelerates, and can be picked up by moving near her. Manaflow Band: Every 15 seconds, hitting an enemy champion with an ability permanently increases your maximum mana by 25, up to 250 mana. After reaching 250 bonus mana, it will restore 1% of your missing mana every 5 seconds.
It's not an extreme amount of mana refunded but a 'LOT' of players really struggle to keep her mana reserves up when trying to play her effectively. Transcendence: Gain 10% cooldown reduction at level 10. Each percent of CDR exceeding the CDR limit is converted to an adaptive bonus of 1.2 Attack Damage or 2 Ability Power.
CDR is great to have on as it will allow you to cycle your spells sooner and also have your up more often. Scorch: I recommend taking which will add a little bit of bonus magic damage on your next hit every 10 seconds. Your other option here is where every 10 Minutes you gain AP or AD, adaptive.
As the game progresses you will gain some extra AP to help burst down carries in skirmishes and team fights. Either of these runes will be fine. Magical Footwear: You get free Slightly Magical Boots at 10 min, but you cannot buy boots before then. For each takedown you acquire the boots 30 seconds sooner. Slightly Magical Boots and their upgrades grant an additional 10 Movement Speed. Take care with this rune if you are against a skill-shot champion and you struggle to avoid them as you cannot purchase boots before the 10 minute mark. Is the other option here and can be just as useful.
Cosmic Insight: +5% CDR +5% Max CDR +5% Summoner Spell CDR +5% Item CDR. Cooldwon Reduction is always a plus on any champion and is no exception to this. I like to have and Ability's around as much as possible which makes this rune a solid choice. Is a very useful spell on. Orianna has no real escape so not taking it can leave you in trouble. Having gives you some extra safety in lane, extra safety from the enemy jungler & also allows you to make riskier plays and engages.
I generally take + in 90% of games. Will offer you some extra mobility which will allow you to roam more efficiently, dodge skill shots easier, escape potential ganks and engage. It's a great spell for chasing enemies down and it will also allow you to better position in teamfights.
Is a great choice on. Is a solid option for Orianna if you're playing against assassins like,. Combine with your shield and you can negate massive amounts of their all-in burst and survive. I don't often take it but it can be useful when you're playing against heavy CC team comps or an enemy that has hard CC, or etc. Be careful if they have multiple champions with CC though because even if you one ability, you can still be hit by the others. (Note: will NOT work against ultimate, ultimate, ultimate, or due to them being 'suppression's') offers extra lane pressure but I rarely take it in games.
I find that defensive spells offer me the most when I play her as they add to her overall kit. Can be a go-to item for playing against AD Assassins such as. It's not a favorite of mine but definitely an option.
Can be used if you want to pressure other lanes, especially bot lane. Just remind your bot lane to ward in the brushes. Starting Choices: is a great item to start with and I take it first in 95% of my games. It gives you some ability power, health and some useful mana regeneration. Will help you to dodge skill-shots and make it a bit easier to position in the early laning phase. Consider starting against enemies with ranged skill-shots like, etc.
Can be taken if you are confident that you ' will win' the lane and want to start snowballing quickly. Only take this as your starting item if you are sure that the enemy laner is not going to get a kill on you. I DO NOT recommend taking this as a starting item but thought it was worth a mention as some players seem to like it.
Can be purchased first if you are playing against an AD champion. It's a part of the which means you will be able to pick it up faster.
Remember, you do not need to finish into a right away. I do not necessarily recommend this as a starting item but it can certainly be worth considering. Standard Items: is a solid item to pick on. It offers a whopping +1400 mana when fully stacked, decent ability power and a shield that if combined with your (E) and a makes you almost unkillable. It can take a long time to get the stacked though.
The extra 20% CDR is definitely worth noting as this will bring your spells around quiet a bit more often. Is a perfect item to help you shut down 'healing champions' such as, etc. It also gives you some flat magic penetration from it's component which will help you to delete squishy targets! Is a great item throughout laning phase and I personally like to have plenty of health in late game. A solid choice if you need the extra health to survive enemy burst or are going to be playing passive. This item will leave you feeling a little under-powered though, especially until the 10mins of stacking are up. A very situational item that I would try to avoid if at all possible.
Gives a decent amount of flat AP and a 10% movement speed increase. Remember, is a very immobile champion and she benefits greatly by any additional movement speed.
You will gain a charge on this item every time an ally or enemy uses an ability up to 100 charges which can then be activated to gain an additional '1-100' movement speed boost & ability power increase for 4 seconds. I am not a fan of this item on but have simply included it here for some players that may want to try it. When you just need some more raw ability power, this is a great item.
It will give you +120 Ability Power and increases your total Ability Power by +40%. It's a great pick up as a second last or last item on.
It is always great to have the some extra Magic Penetration and this item is a solid item to pick up on, even if the enemy is not stacking Magic Reesist. Can be taken if the enemy team consists of high health tanks. The extra health will help you out when in extended fights and this item synergizes really well with.
Has decent flat Ability Power which will give you some extra burst. It's passive 'Haste' gives you and extra 10% Cooldown Reduction and it's passive 'Echo' will help you to wave clear. You also get a healthy amount of mana too +600 Mana has a great active that can save you countless times throughout a game.
It's a great defensive option against AD heavy teams or assassins and it can be useful to rush if you are struggling a lot against a or etc. You also receive 10% Cooldown Reduction from this item. Gives you +75 Ability Power, +60 Magic Resist and 10% Cooldown Reduction. It's passive grants a spell shield that blocks the next enemy ability. It refreshes after no damage is taken from enemy champions for 40 seconds.
It is an excellent item for when you're matched against an AP heavy team. In general I love this item as it offers lots of health, utility from it's slow and some ability power.
Synergizes really well with. Helps you to stick to a slippery enemies such as and chase them down if need be. Also, allows you to kite melee champs. It can be a viable item depending on a particular game.
'can' be a viable option if you are behind or are really sruggling against a particular match-up. Although it doesn't offer much AP, this is not the reason for picking it up. It offers some MR, Mana Regen among other defensive stats (healing with your shield) and 10% CDR. Is not an ideal item to purchase on but in if the enemy team consists of multiple AP champions it can possibly become an option. It will offer you some survivability should an enemy AP assassin try to burst you down.
It's more viable against melee AP Assassins like, etc. As they will have to be in the range of it's aura when they try to burst you down. Can be a viable option (but probably not recommended) if you're ahead in a game and doing really well. It will offer you some extra AD (which we don't really need), Armour and an extra life should you get bursted down in a teamfight. It has a very high cooldown though and is pretty much useless for you when it's not up. Orianna commands her Ball to fire toward a target location, dealing magic damage to targets along the way (deals less damage to subsequent targets).
Her Ball remains at the target location after. Orianna commands her Ball to shoot toward a target location, dealing 60/90/120/150/180 ( +50% Ability Power) magic damage to targets along the way. However, it deals 10% less damage for each unit it hits (Minimum 40%).Her Ball remains behind at the target location afterwards. You will want to take (Q) first in almost every game, the exception being if the enemy team has strong ranged champions like or your're not confident in a certain match-up. In this case you should take (E) first.
Offers you zoning potential, wave clear and poke. Orianna commands the Ball to release a pulse of energy, dealing magic damage around it. This leaves a field behind that speeds up allies and slows enemies. Orianna commands her Ball to release an electric pulse, dealing 60/105/150/195/240 ( +70% Ability Power) magic damage to nearby enemies.The pulse leaves behind an energy field for 3 seconds, lowering enemy Movement Speed by 20/25/30/35/40% and increasing ally Movement Speed by 20/25/30/35/40% for 2 seconds.
This effect diminishes over time. Don't underestimate the damage this will put out during skirmishes or teamfights, a well placed (Q)+(W) can really chunk an enemy carry's health bar. It can also help you to move around the map quicker, assuming you have the mana regen to use it. Orianna commands her Ball to attach to an allied champion, shielding them and dealing magic damage to any enemies it passes through on the way. Additionally, the Ball grants additional Armor and Magic Resist to the champion it is attached to. Passive: The Ball adds 10/15/20/25/30 Armor and Magic Resist to the allied champion it is attached to. Active: Orianna commands her ball to fly to and attach onto an allied champion, dealing 60 / 90 / 120 / 150 / 180 ( +30% of ability power) damage to enemies it passes through and shielding the allied champion 2.5 seconds for 60/100/140/180/220( +40% of ability power) when it arrives.
If the ally dies while holding the ball, it drops to the ground. This is such a useful shield, not only can you use it on yourself but you can aslo use it on your teammates. If you or a teammate going to take a lot of damage simply pop the ball onto them or yourself as needed. It can also be used for extra damage and will proc if it passes through an enemy on it's way back from a (Q)+(W) combo.
Orianna commands her Ball to unleash a shockwave, dealing magic damage and launching nearby enemies towards the Ball after a short delay. Orianna commands her Ball to unleash a shockwave after a brief delay, dealing 150/225/300 ( +70% Ability Power) magic damage to nearby enemies and flinging them into the air a set distance in the direction of the Ball.
This ultimate is one of the most useful team-fighting ults in the game. Try your best to not waste it as becomes a lot less scary without it. If you die before the cast is completed, the spell will not take effect. Early laning, pre 6 is where you want to concentrate on farming creeps. Depending on what champion you are laning against, it may be possible to use this time to zone and bully them off their farm also.
Immobile champions with short range are easily bullied and zoned, for example. Most importantly you will want to CS as much as possible. You have a strong, safe laning phase and your passive makes early trades worth attempting as you can easily soak up some damage with your. You have a strong AA especially when it begins to stack up on an enemy with multiple hits and you should try to use this to your advantage. On your way to level 6, be sure to not miss farm as you can get your first item ASAP. Farming is pretty easy for so be sure to take advantage of this. Remember that roughly (19 CS = 1 Kill) so farming efficiently and out-farming your enemy can give you a massive advantage.
You are pretty mana heavy so take care when using your combos to harass the enemy. Farm, Farm, Farm: A farmed is equally as effective as a fed orianna and she is so effecient at it. CS is the bread and butter of your gold income so be sure to continue last hitting each minion. By this time you should be close to finishing if not already your first item and you now have your ultimate.
Although is not the stronges cahmpion to gank with, it's still possible to shove out your lane hard and look to roam to another lane or help your jungler out with a pick on the enemy jungler. Botlane is your likely target and use your numbers advantage to try to kill the ADC and Support if possible.
You have reasonable mobility due to you which will speed you up if the ball is placed on yourself. It requires a lot of mana though so don't overuse it. OK, so you've managed to make it to mid game. This is the time that players will begin to roam and group up for ambushes, ganks or to secure and objectives (Towers, Dragon, Rift Herald etc.). Large scale Team-fights and smaller skirmishes will begin to occur. Since taking objectives usually results in a teamfight can play a big part in these fights. You are not as scary if you don't have your Ultimate up so don't waste it unnecessaraly.
Victory or Loss of these fights at this stage can sway the outcome of the game. Has a solid mid game so you need to use this time as best you can. You have the ability to CC the entire enemy team (should they be grouped) and also your damage/burst at this point is not to be underestimated. Remember it's possible to place the ball on an initiator like, etc. Within your team and have them bring it to the enemies backline if necessary. Don't forget to continue to farm whenever possible! Vision control is an crucial part of mid-game and this can definitely turn games to your advantage or destroy a well earned lead.
A well placed ward can help you to get picks on the enemy team. You will want to try to keep wards in key areas on the map and at key objectives, keep farming all the time and roam as much as you can. Do your best to 'never' get caught alone. Late game is all about teamfights. Similar to midgame, teamfights will break out around objectives, only this time a misplayed can cost your team the game. You will want to get as much damage as possible out onto the enemy team while at the same time using your abilities to protect your team.
Once you have used your and your combo has finished you should not begin to peel for and protect whoever on your team requires it. It's highly likely that you or your ADC are the targeted ones but if neither of you are being focused and bursted down at this moment, identify who needs your protection/peel and help to keep the alive. Your positioning is absolutely crucial because at this point you are pretty immobile and fairly predictable. You are likely to be a 'priority target' for the enemy team so you can't get too close but at the same time you need to be close enough in order to get your damage off. Standing in the fron line yourself is probably not a good idea. Standing behind your front line makes more sense:). Do to the fact that your ball can dictate where an enemy can & cant go (without either being harassed or dying) can be considered a 'Control Mage'.
Use this to your advantage throughout laning phase and the rest of the game. It's possible for you to place the ball either within the minion wave or on the enemies side where you can easily (Q)+(W) it onto them for harass. This works exceptionally well against melee champions because they will need to walk up to farm or immobile champions like. It's also possible for you (if you know where the enemy jungler is) to shove an enemy into their turret and keep harassing them with the ball from a distance with as they try to last hit under tower. To zone enemies late game, the same general tactic applies - Keep the ball out in front of yourself/team in order to dictate where the enemy team can & can't go. Jungle 'choke points' are a great place for an to flex her strength at zoning, they are also great for team-fights as the enemy team is usually forced to group allowing you to more easily catch multiple of them with your.
Talking Points:. Despite the US $200 bln upgrade to its Chinese tariffs and China retaliating with $60 bln of its own, risk trends still advance.
The BoJ rate decision and start of the two-day EU Brexit summit, neither the Yen nor the Pound marked a clear move. Brexit talks, the SNB rate decision, US-Canada negotiations and risk trends should all be on our radar over the next 48 hours Do you want to learn how to trade event risk?
The Five Ton Elephant in the Room: Trade Wars and No Market Response This week, there has been an unmistakable and even extreme upgrade in the US-China trade war. And yet, the markets have arguably grown more and more disconnected from the economic and financial ramifications of this situation as the intensity increases. Following reports that this step was coming, the White House announced Monday that it would go forward with the proposed escalation of tariffs on another $200 billion in Chinese imports increasing the pressure four fold over the previous step. True to form, China followed with its own retaliation on a reported $60 billion of US goods.
The next steps are fraught with greater danger and further straying from a reasonable course of eventually returning to stability. Perhaps China notched a smaller notional group of goods and set lower rates to prevent President Trump from pursuing the threat of further escalation in response to retaliation to the tune of an astronomical $267 billion upgrade that would blanket all Chinese goods.
If so, it is unlikely to earn much appeasement. Yet, despite the course we are on, risk trends are remarkably disconnected. It isn't even complacency at this point. It is willful refutation of prominent threats.
The just off of a record high and the finding a remarkable charge just this past session is remarkably not that unusual. More impressive is the fact that even the Shanghai Composite has broken up from its bear trend while other sensitive assets have similarly thrown in the towel on caution. Optimism is one thing, purposeful ignorance is something completely different. Shanghai Composite vs. S&P 500 Chart (Daily) US-Canadian Talks Break Down and BoJ Continues to Tread Water.
Aside from the deepest fundamental current - and the market's uncanny disinterest in following its course - there was no lack of targeted fundamental event risk this past session. In the Asia session, the Bank of Japan (BoJ) surprised no one when they decided to hold monetary policy unchanged at essentially-zero while maintaining course with its recently modified massive quantitative easing program. The implications for this unprecedented (remarkable given the efforts of Fed and ECB) program don't seem to catch much traction anymore. In effect, the Japanese currency is only solidifying itself further to its funding currency status, but there isn't presently much carry trade to fight over - even if risk trends are still buoyant. The standing of the Yen crosses is likely indicative of the moderate degree of confidence that is currently present in this market, but can it make the next step to a bullish break just as US indices need to cross to record highs? More thematic in nature, the responded quickly to reports Wednesday that talks between Canadian and US officials for NAFTA renegotiations had likely stalled for the week. That said, the loss of altitude was ultimately small and short lived.
An equally weighted Canadian Dollar Index stands at the cusp of a bullish break on a multi-month congestion. Chart (Daily) An Inevitable Dollar Break and More Brexit Discussion Where the and Canadian Dollar don't face an inevitable break in the near term, the US currency certainly does. The Dollar Index chart presents a wedge that will come to a terminal point whether fundamentals motivates a resolution or not. That will necessitate a break, but not all such cues require follow through. In fact, we have seen plenty technical triggers with no detonation aross the financial markets these past months.
The question is not where and when a break occurs, but rather what motivates it. A technical conclusion is likely to come up with the same struggle we have seen so frequently. However, if the markets suddenly start to discuss the fallout of trade wars on so many fronts or growing doubt over the Fed's commitment for hikes out to December and into 2019 (futures show a 94 percent probability of a hike next week), perhaps the opportunity will be seized.
A similar capacity for movement rests with the. It doesn't have the technical geometry, but its build up these past weeks was predicated on beliefs that have quickly eroded. Gone is the encouraging language from the UK and European officials who have talked up the expectations of compromise. Instead, we find EU President Juncker saying they were still far from an agreement and Prime Minister May saying they would stick with the Chequers plan.
The second day of the informal EU leaders summit is scheduled ahead. Don't set expectations high, but keep agile. DXY Chart (Daily) Don't Underestimate the SNB or Overestimate Commodities Given the environment of the speculative backdrop and the scheduled event risk that we have to deal with, it is easy to disconnect from good trading policy. However, we shouldn't discount the inevitable return of volatility or systemic reference to trends. Similarly, we shouldn't ignore event risk or technical developments as they come. Due for release Thursday, the Swiss National Bank (SNB) rate decision is expected to end as they have for years since the failure of their 1.2000 floor policy.
No material change to the substantial, negative rate is likely. That said, the group is likely more anxious than normal given the Swiss Franc's advance these past few months. Their desperation to force FX depreciation is well-know and its peers are slowly starting to reverse course on boundless accommodation. Be ready for a market impact, and the bigger impact would be a slide from the Franc. Alternatively, there is no specific data to track for commodities but technicals that suggest a break is inevitable. Is working to a terminal wedge and there is a lot of traditional risk theme to work with.
For, US-based WTI produced a bullish break this past session. Europe's preferred Brent didn't follow suit, yet. If it does, the break above 80 would be far more suggestive. We discuss all of this and more in today's Trading Video. Index Chart (Daily) If you want to download my Manic-Crisis calendar, you can find the updated file. Written by John Kicklighter, Chief Currency Strategist for DailyFX.com. About your FOREX.com Demo Account A demo account is intended to familiarize you with the tools and features of our trading platforms and to facilitate the testing of trading strategies in a risk-free environment.
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