XAUUSD – GOLD Daily
Supports at : 2325.00 , 2315.00 and 2275.00
Resistances at : 2370.00 , 2390.00 & 2420.00
If it holds above 2325.00 , it will have a chance to retest higher.
But if it closes tonight below it, a Bearish pattern will start emerging, opening a way for a test of 2275.00 first and even 2165.00
AT TRading alerts
AT Trading Alerts are what the term says, alerts presented in read time by The Amazing Trader algo in the form of trades indicating a potential change in direction off the high or low for today.’
It is then left up to the trader to decide whether it is a trade they choose to follow (we show a way to evaluate an alert).
Which ones of the 12 alerts today would you have followed
Visit The Amazing Trader and email jay@theamazingtrader.com for current promotions
USDX WEEKLY CHART – EURUSD PROXY (57.5% OF THE INDEX)
USDX weekly is up 3 weeks in a row, which is a good proxy for the directional risk in the EURUSD.
Key resistance levels, as the chart shows, are still above the market.
Note outliers are the commodity currencies (CAD, AUD, NZD)
USDJPY tested 159+ but with caution given the threat of intervention or stepped up warnings of such.
GBPUSD DAILY CHART – TESTING 100 DAY MVA
GBPUSD failure to recover 1.27+ and break of 1.2680 leaves little on charts until around 1.25.
In the absence of nearby support, expect the most recent low to act as a key level.
Otherwise, downside is exposed as long as it trades below 1.2680-00, stronger if it stays below 1,.2650.
ALSO, watch the 100 day mva (yellow) has been tested and 200 day mav (blue) below it.
A look at the day ahead in U.S. and global markets from Mike Dolan
Nvidia, the Nasdaq and the S&P500 got dizzy at record highs on Thursday as world markets start to take stock of a bumper 2024 as we near the half-year point next week – but with the dollar (.DXY), opens new tab back on the march regardless.
Friday
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the rate cut confidence reinforcing incoming data theme will continue to be all the market has ears and eyes for again today,
Allegedly, US economy is hot. So hot that it is hard to find a hotter economy. So today’s PMI release will likely be traded with rate enthusiasts in mind.
EURO 1.0685
– Major support on the line at 1.0667 (check out the daily chart)
DLRYEN 158.85 – BoJ and MoF for their own internal reasons, just don’t appear to get their sh!t together as players keep the carry trade alive.
Weakness in both these puppies is currently adding up to DLRx bouts of strength (curr 105.40)
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GME – GameStop Corp
GME: GameStop Stock Down 63% from Frothy Highs Last Month. Is Meme Trading Fading?
Roaring Kitty can only do so much — his PR stunts and screenshots took degen traders on a wild ride that ended where it started. Now, many are left holding the bag.
· GameStop shares in bad place.
· Flurry of events batters traders.
· CEO Ryan Cohen to cut costs.
GameStop Corp GME stock has lost close to 16% this week following its annual shareholder meeting, where CEO Ryan Cohen emphasized a strategic pivot towards profitability through cost reduction.
Cohen also emphasized the need to avoid the “hype” associated with the meme-stock frenzy.
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