Geoplotiical driven markets are a different animal as you will see in this blog article
EURUSD Gaps Lower: How to Trade in a Geopolitical Market
EURUSD Gaps Lower: How to Trade in a Geopolitical Market
EURUSD 15 MINUTE CHART – TRENDLINE
I scan through charts looking for whatever indicator is working. AND THEN KEEP AN EYE ON IT.
In this case, using THE Amazing Trader, note how the 15 miunte trendlkine capped the biounce off the low.
Whoever wrote this had sound reasoning and highly knowledgeable. The problem is the market doesn’t care about your all-knowing prognostications and did the complete opposite:
7:30AM EDT, 5/31/2024 (MT Newswires)—US equity and bond markets outperformed counterparts in Europe and elsewhere during May and some models suggest this is likely to lead to broad US Dollar selling as asset managers rebalance hedging ratios in North American trade on Friday.
EURUSD Daily
To add some salt to the injury 😀
1.07100 might be the first real test in front of us – from theory to reality : Resistance becomes a Support – but if not, we’re in for a wild ride then.
Gap was an overreaction to EU elections results from last night – too much fuss about nothing….yet another Liberal scare.
A look at the day ahead in U.S. and global markets by Samuel Indyk
The expected rightward shift in the European Parliament after a four-day election has still managed to jolt European markets as gains for the far-right in France prompted French President Emmanuel Macron to call a snap parliamentary election.
French bonds and stocks were sold off while the euro dropped as political uncertainty had investors heading for the exits.
EURUSD DAILY CHART – MIND THE GAP
EURUSD opened the week with a gap down, which now comes in at 1.0788 or 1.0801 (Friday close) depending onw wheeher you measure it from the chart low or prior week/s closing level.
As I pointed out, 1.0788 was a game changer level that would expose a void until 1.0721.
To put it on the radar, 1.0750 would need to be firmly brokem (low so far 1.0747).
On the upside, market will likely be in a ssell mode while below 1.0788-1.0801.
Note, geopolitics triggered the gap… more to come on this
Take a look at a detailed preview of the EU Parliament election as markets wait for the results and expected gains by the right.
Newsquawk Week Ahead 10-14th June: Highlights include US CPI, FOMC, BoJ and China inflation
Newsquawk Week Ahead 10-14th June: Highlights include US CPI, FOMC, BoJ and China inflation You
maybe nothing will matter soon anyways
Remarks from UN Secretary-General António Guterres June 7, 2024, in Washington
Humanity is on a knife’s edge, the risk of a nuclear weapon being used has reached heights not seen since the Cold War. States are engaged in a qualitative arms race. Technologies like artificial intelligence are multiplying the danger. Nuclear blackmail has reemerged with some recklessly threatening nuclear catastrophe.
EURUSD Daily Outlook for coming week & Important Data
In the coming week some very important data is awaiting us
Check it out on Economic Data Calendar.
Especially pay attention to Wednesday US Data :
Inflation Rate
Core Inflation
CPI
And most IMPORTANT one – FOMC Interest Rates Decision !
BTC 4 HOUR CHART _ 70K failure?
It feels like you would need a sledgehammer to change hopes that BTC will move above 73K to new record highs.
Taking hope out of the equation, 70K remains the pivotal level as BTC has once again stalled below 73K.
As I have noted I am not a fan of using precise levels in this or any crypto, so just keep an eye on 70k as it will determine whether the failure to test the highs turns into a more serious retracement.
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