USDJPY 4 HOUR CHART – WHAT THE SAVVY TRADER IS SAYING
I have passed on the view of what I call the “savvy trader” (long-time GV member) and here is another one just emailed to me (note I am only acting as the messenger)
155.66 – 155.92 could be a good area to start a strategic campaign short
closes below 153 on a daily basis would not be good for the bulls
and anticipate an acceleration below 152 and 151
1st target 147.xx from which anticipate a bounce before eventually drilling for much deeper targets.
I suspect that the maximum it can drop is around 126 and then it will range back up
everything must be done with patience
SEE WHETHER YOU SAY YES/NO TO ANY OF THE QUESTIONS ON THIS SELF-EVALUATION TRADING CHECKLIST
Help! Why Can’t I Make Money Trading?
XAUUSD 4 HoUR CHART
On this chart, 2291 NEEDS to hold as support followed by a firm break of 2328 would be needed to put 2352 in play again
On the downside, 2291 needs to hold to keep a bid under the market, and thoughts of the 2277 low at bay.
The bottom line, the low is not yet confirmed and only would be if 2328 is firmly taken out.
Tom Barkin
Navigating Data Whiplash
https://www.richmondfed.org/press_room/speeches/thomas_i_barkin/2024/barkin_speech_20240506
For novices – there is a nice trendline from last weeks low in AudUsd that value is resting on at around 6620, and since Aud has good fundamental one might argue it would move higher. You must pay attention to the bigger picture though. If you look at larger time frames of analysis, 6660 could end up being a solid resistance area for bulls. AND it has the mark of the beast on it!
EURJPY 4 HOUR CHART
EURJPY correcting off the 164.00 intervention led low. This is the key level on the downside but only a move back above 167.38 would confirm a near-term low is in.
These are the key levels on this chart, anything in between is just minor.
Note, BoJ interventions, at a minimum, have restored a two-way risk although it has been in USDJPY and not on JPY crosses.
Michael can yoiu email me pols tks jay@global-view.com
© 2024 Global View