- This topic has 28,362 replies, 54 voices, and was last updated 45 minutes ago by .
-
US500 (SP500) 4 HOUR (CFD): Encouraging sign?
The pause just above key daily support (cited here yesterday) at 7292 plus a higher low (2 red lines) are encouraging signs but it would take a move above 7505 to negate the breakdown and raise talk the low is in.
Otherwise, it is either consolidation or retracement as long as the low stays at 7295..
NAS100 (NASDAQ) 4 HGOUR (CFD): Still too early to call a low
While It is too early to say the low is in, downside risk will cool off if it can stay above 27K.
To change the picture, 28K, the 4 hour trendline and 28336 would need to be taken out.
Otherwise, it is consolidation or retracement unless the low is taken out.
USDCAD 4 HOUR: Reversal of fortune
With momentum already turning up pre-jobs data, contrasting reports (US beat, CDA misses) has seen USDCAD extend its high.
If 1.4113 is firmly taken out, then 1.4200 comes on the radar.
If not, keeps a bid as long as former resistance at 1.3068-82 holds as support.
XAUUSD 4 HOUR: Yields or safe haven?
Back into a 4000-4100 range after finding a visit above the upper end too tough to hold after the pause below key 4155 resistance.
As noted yesterday, 4029 was support that needed to hold to keep a bid. The pause above it today confirms this as a level that needs to hold to prevent exposing 3970-00.
Debate is whether softer US yields or safe haven buying is behind GOLD’s rebound.
Forexc Market Snapshot: TGIF
Under normal circumstances today’s US jobs report would be the center of global attention but these are not normal times following the US (and global) stock market meltdown.
This has seen the dollar firm on safe haven demand (despite a bounce in stocks) with the AUD and NZD weakest and the CHF, although down, a relative outperformer.
- EURUSD is back below 1.12 and close to opening week levels.
- GBPUSD is testing a 1.3375-95 support zone after hitting a wall at 1.35
- USDJPY extending its trade around 158 to 4 days in a row, currently back above after safe haven JPY buying failed to follow through.
How US stocks end the day will be more important than hpw they start out in setting the risk tone for the week ahead.
Market Update Indices (Daily CFDFs)
While the bounce off lows (US500 paused just above the 7292 support level cited yesterday and NAS100 rebound back to 27K) might have bulls breathing a sigh of relief, it would take moves back above 7500 and 28K (and the 200 day mva) to signal anything more than a retracement.
US500 (SP500) DAILY (CFD): Meltdown
Meltdown may be an understatement with the solid move below 7500 and the former 7461 low opening a black hole. Rather than guess at the bottom, I will just point out key supports at 7292 (daily) and 7227 (weekly). Upside will be limited unless 7460-7500 is regained.
Given the stock market meltdown, is it time to call out the cavalry (i.e. Plunge Protection Team)? What is the Plunge Protection Team? The Plunge Protection Team, or PPT, is Wall Street’s nickname for the President’s Working Group on Financial Markets. Established in 1988 after the 1987 stock market crash, it brings together leaders from the Treasury, Federal Reserve, SEC and CFTC to coordinate responses to threats to market stability and investor confidence. Traders often credit the PPT when stocks suddenly rebound from a sharp selloff. The group’s formal responsibilities center on policy coordination and recommendations
US STOCKS MELTDOWN: WEEKLY
One look at these charts shows black holes of support below the market, where, at a minimum, US500 would need to regain 7461 and/or NAS100 27000+ to slow the risk (but 7500+ and/or 27500+ to provide breathing room, limited upside while below).
Given the volatility and extent of the meltdown, keep an eye on these levels for clues.
NAS100 (NASDAQ)Â 1 HOUR :(CFD): Freefall
There didn;t appear to be a specific headline that saw stocks go into freefall other than noting chipmakers and AI infrastructure shares are driving the selloff.
Qualcomm added to the pressure, falling about 10% before the open after disappointing smartphone chip sales reflected sluggish demand and lower Apple-related revenue. Meanwhile, concerns that opposition to data center development could intensify following the midterms are weighing on companies supplying chips, servers and power for the AI buildout.
NAS100 needs to regain 27500, at a minimum, or risk is for 27000
t.
- 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
