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EURUSD 1 HOUR CHART – WAITING FOR NFP
Market is biding its time waiting for the US jobs report,
A sharp price in EURGBP yesterday helped give EURUSD a bid and it has backed off today as the cross eased back.
1.09 should be tough on top, back below 10840-50 would be needed to shift the focus back to 1.08,
Oct NFP:
A weak jobs # is expected following a sharp rise in Sept BUT NFP will likely be distorted by the hurricanes and strikes,
GBPUSD 1 MONTH – NEW MONTH, NEW BALL GAME?
GBP sold off yesterday on a plunge in the bond market (higher yields) and today it seems to be benefiting from the higher yields. So price action suggests month end flows may have been a factor in the ell off.
Whatever the case, it was a straight line move from 1.2999 to 1.2851.
For today 1.2880-85 needs to hold to keep the bid.
On the upside, no resistance other than the day high so treating the move up as a retracement, use FIBOS as possible levels
From our Fibonacci Calculator
Amazon – AMZN
Amazon.com beats estimates for quarterly revenue
Amazon.com AMZN beat market estimates for quarterly revenue on Thursday, boosted by strong growth in its cloud services unit thanks to growing enterprise spend on AI.Shares of the company were up 6% in extended trading.
Amazon Web Services, the company’s cloud business, reported a 19% increase in sales to $27.5 billion, in line with estimates, according to LSEG data.
Nio Inc.
Chinese stocks listed in the U.S., including NIO Inc are trading lower.
There is some commotion going on around social media about it…
Looking at news nothing interesting pops up …So what’s the deal??
I think I know the answer to this one : investors that were late to catch up on Tesla run were looking around to jump on the next best wagon , and they picked up Nio – Electrical auto maker from China.
First hand info : they were buying it around 60$ and now it costs only around 5$ – so wishful thinking syndrome most probably .
Alas, it looks to me like a dead fish in a dirty water….that’s all…a bit lower and it will trade in negative territory – that is a situation when they give away their stocks and if you take it you get some money as well with it – those of you that are a bit less young might remember when they were selling Yugo ( so called a car) and if you bought it you got a big screen TV with it for free…
US500 DAILY CHART – AS I POSTED…
I posted this earlier and see what happened after support gave way
I guess with hindsight one could say that a correction was overdue given the proximity of the US election and an uncertain outcome.
Using this CFD, .5763 is a key support, needs to hold to contain the downside. 5733/5700/5675 below it.
On the upside, back above 5800-05 would restore a bid..
Resistance now starts at 5760-65
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