- This topic has 28,317 replies, 54 voices, and was last updated 17 minutes ago by .
-
EURUSD DAILY: 1.12 back in playt
Pause bwlow 1.1276 (high 1.1274), a key level cited earlier, has capped its upside to maintain the current range.
Selling pressure is coming out of a weaker EURFBP where the market is having more trouble absorbing the EUR sell side (GBPUSD still trading above 1.3448, also cited earlier) ahead of tomorrow’s BoE meeting.
To keep the downside contained, 1.1200 needs to hold.
Bottom line selling driven vs GBP and not USD
US500 (SP500) 4 HOUR (CFD): Outside day
US midterm whipsaw has broken momentum to the downside and taken out 7664 (confirms the low is in). Next is 7700, (around a 61.8% FIBO). tested and which needs a firm break to make this more than a retracement.
On the downside, needs to hold above 7664 for a strong bid
Why (my) levels matter (bounce off support to test resistance…see chart)
EURUSD 1.1263 => 1.1237 => 1.1270
Posted earlier…
EURUSD 4 HOUR: Resistance noted
Extending this week’s high and now faces key resistance at 1.1269 (4 hour) and 1.1276 (daily) ….support… 1.1222-37 blocking a shift in focus back to 1.12.
This historical trend has a 100% track record but…
Will History Repeat and U.S. Stocks Rally After the Midterms?
GBPUSD DAILY: Watch 1.35
While chart shows 1.3568 as the next target,1.3500 is the current obstacle with some hesitation seen just below it.
On the downside, keeps a bid as long as trade is above this week’s former high at 1.3448 but upside contained unless 1.35 is taken out.
Note, next key event is the BoE rate decision on Thursday.
EURUSD 4 HOUR: Resistance noted
Extending this week’s high and now faces key resistance at 1.1269 (4 hour) and 1.1276 (daily), breaks of which would expose the former breakdown level at 1.1324..
If not, then 1.1250 becomes pivotal with support below it at 1.1222-37 blocking a shift in focus back to 1.12.
XAUUSD 4 HOUR: Regains 4000+
Building momentum off higher lows (red lines) that faces a key obstacle at 4083, which needs to be taken out to confirm (high so far 4049). Â If broken, target would shift to 4155-4200.
If not, still keeps a bid as long as trade is above 3970, stronger bid if 4000 becomes support
Market Update: Indices (1 hour)
These charts say it all and should be put into the history books as examples of whipsaw price action.
US500 move above 7605 breaks one hour down momentum while NAS100 needs to take out 28380 to do the same.
To confirm on 4 hour charts, 7664 and/or 28756 would need to be taken out.
In any case, deck has been cleared of sell stops until today’s lows.
Forex Market Snapshot
The dollar is trading weaker following the Blue tsunami results in the US midterms as risk tone takes a u-turn to the upside.
While the dollar is down across-the-board, the JPY is lagging (USDJPY back above 158) as it loses ground again on its crosses.
Elsewhere, EURUSD is firmly above 1.12 (1.1250 now pivotal), GBPUSD has sights on 1.35 but so far pausing just below, AUDUSD (an outperfortmer) is back to .7000+ and USDCAD is lower after failing to hold 1.40+
Palantir (PLTR)
Palantir’s Q3 revenue increased 96% year/year to $2.31 billion, beating the $2.18 billion consensus estimate.
U.S. commercial revenue rose 148% to $984 million, overtaking U.S. government revenue for the first time.
Palantir forecast Q4 revenue of $2.649–$2.653 billion, above the $2.46 billion consensus, while shares fell nearly 3% in Monday’s after-hours trading.
USDJPY 4 HOUR: Underperforms
When you see the JPY over or underperform (in this case the latter), it is generally cross flow driven. In this case, it is either EURJPY or GBPJPY or both that has seen USDJPY test 158.60. Market is having more trouble absorbing the USD buy side. The significance of 158.60 is it’s the last resistance ahead of 159.03, which is the top of the current range where the BoJ may be lurking.
out.
- You must be logged in to reply to this topic.
Global View
Forex Trading Forum Forex, Nasdaq, S&P 500, Stocks, Bitcoin, Gold….
Global View | The Original Forex Trading Forum
Forex Forum Global View is one of the longest-running and most respected destinations for forex traders worldwide. We provide a vibrant online community where traders of all experience levels come together to exchange ideas, discuss strategies, and stay informed about global market developments.
Since our founding in 1996, we have built a legacy as a trusted place that empowers retail and professional traders alike. Our mission is simple: to provide a space where forex knowledge flows freely, and every member can grow through real-time conversation, expert insights, and shared experiences.
It isn’t just another forum; it’s the original and leading destination for Forex traders worldwide since 1996! Immerse yourself in a vibrant online community where traders of all levels connect, share strategies, and stay ahead of global market developments. Get real-time trading tips from real traders on Forex, stocks, Bitcoin, and more. We offer educational content, real-time charting tools, and access to proprietary Algo Trading systems. Join Global View today and become part of a global network of successful traders, where knowledge flows freely and your trading journey thrives! Elevate your game and experience the power of community-driven insights.
A Real-Time Forex Live Forum for Serious Traders
The fast-paced nature of the currency markets demands tools and platforms that keep up with the action. At Global View, we offer a live forum that features timely discussions and market reactions as they happen. Whether it’s breaking economic news, central bank announcements, or technical levels being tested, our members are always actively sharing their thoughts and forecasts in real time.
You’ll find live threads covering:
- Major and minor currency pairs
- Nasdaq
- S&P 500
- Dow Jones Index
- DAX
- FTSE
- Crypto
- Bitcoin
- Ethereum
- XRP
- Major Stocks
- Nvidia
- Tesla
- Apple
- AMD
- Crude Oil
- Gold….
- Technical and fundamental analysis
- Trade ideas and setups
- Macroeconomic news reactions
Our live discussions make Global View more than just another  traders forum—they make it a key part of your daily trading workflow.
Connect With a Global Network of Forex Traders
Forex Forum
Looking for a place where serious forex investors connect and collaborate? Global View is more than a discussion board—it’s a full-fledged investment forum. Our members range from independent traders to hedge fund managers, all eager to share insights, ask questions, and learn from each other.
You can:
- Join topic-based threads to learn new trading strategies
- Post trade ideas and receive constructive feedback
- Stay up to date with market-moving events
- Gain long-term insight into trading psychology and portfolio management
Our community fosters respectful and insightful conversation—perfect for traders who are committed to improving their craft.
Beyond the Forum: Tools, Education & Algo Trading
Global View isn’t just about conversation. We provide additional resources to support your trading, including:
- Educational content and webinars
- Real-time charting tools
- Access to our proprietary Algo Trader and Amazing Trader systems
- Exclusive discounts on prop trading challenges, broker accounts, and premium tools
Whether you’re just starting out or have been trading for decades, Global View is your go-to platform for connection, education, and execution.
Join Global View today—the original and still one of the best trading forums for serious traders around the world.
You can take a FREE Trial of Our Proprietary Algo Charting System – The Amazing Trader
Click HERE
Join Our Global Traders Association – GTA – for FREE – Click HERE
