[Mtl JP]

Eye on Yellen
–
Hey peasants, listen here !
..you ”are better off than they were when President Joe Biden took office.”

But … “more work was needed to bring down the cost of living but said that wages have risen faster than prices.
“Which means that the typical American can afford more goods and services than before the pandemic. And Americans are starting new businesses at a record rate, reflecting optimism about the economy,”

A week before US vote, Yellen revives arguments on strong economy – RTRS

[GVI Forex]

EURUSD 30 MINUTE CHART – Will 1.08 trade again?

As noted in the eek ahead and again yesterday, my view is to treat moves to the upside as retracements unless 1.0839 is firmly taken out.

See this chart and how the Amazing Trader resistance line held.

Now we see if 1.08 can exert a magnetic pull as it enters a 1.0800-10 support zone.

Note how EUR crosses have undercut the earlier EURUSD bid (e.g. EURJPY held resistance, EURGBP dips).

[GVI Forex]

Verbal intervention (no reaction)

Japan’s Economy Minister Akazawa says he is closely monitoring currency moves; notes that a weak yen can have various imoacts on the economy

Source: Newsquawk.com

[GVI Forex]

There us soime US data that could spark soime movements’

US Trade balance (largely ignored)

JOLTS (job openings)

CB Consumer Confidence

See our Economic Data Calendar

[Mtl JP]

profits of the other kind
–

wsj
Pentagon Runs Low on Air-Defense Missiles – BOOOO! – as Demand Surges – YEeeeey !
The U.S. is running low on some types of air defense missiles, forcing the Pentagon to make difficult decisions about how it defends against attacks by Iran and its allied militias in the region.

You ll have to do your own homework who and which company is facing the Air Defense Missiles surging demand

[GVI Forex]

EURJPY 4 HOUR CHART – Retests the high

JPY weakness following Japanese elections is providing offset support to currencies such as the EUR and GBP while upporting USDJPY.. Curious that AUD has not benefited.

As for EURJPY, yesterday’s 166.08 high has been re-tested and its significance is there is little on the upside for another 9-10 big figures. This makes 166,08 a key level.

Note this follows yesterday’s bounce from just above the bottom of the ipoening week gap.

[GVI Forex]

USDJpY DAILY CHART – Fun and Games

Fun and game yesterday after USDJ{Y retreat from a 153.85 post-election high found support in its opening week gap (above 152.35-40) and popped back above 153. Scroll back to yesterday’s posts to see a good real-time illustration of trading opening week gaps.

Here is a way to keep it simple

If current range is 152-155, then the 153.50 midpoint will dictate which side is ultimately at risk

If the range i a tighter 152-154, then 153 sets the tone.\

Correction: USDJPY high should read 143.88

Otherwise, uptrend is intact unless 151.44 is taken out but consolidating while below 153.85.

[GVI Forex]

This is nit a normal week

Fallout from Japanese election’

US election uncertainty

Full calendar

Mega tech stocks earning

GoLd (and BTC) suggest geopolitical concerns despite relief after Israel strike on Iran spared oil fcilities

[GVI Forex]

AUDUSD DAILY CHART – WILL SUPPORT HOLD?

A noted in our Weekly FX Chart Outlook

AUDUSD: Trend: Down

Closing the week below .6621 and the 200 day mva (.6629 confirms a shift in risk that has potential for..6505-55. You can see by this chart why this area i important.

Back above .6610-30 would be needed to slow the risk.

Range this week .6610 => .6658 (today’s low)… so nice textbook move, support target so far holding

[GVI Forex]

BTCUSD WEEKLY CHART – RECORD HIGH ON THE RADAR?

While currencies consolidate, BTCUSD is trying to make a run at its record 73840 high following the long awaited move back above 70K.

To make a run at the high, 72K would need to be firmly broken.

Back beoow 70L would cool the risk, strong bid while above it.

[GVI Forex]

XAUUSD 4 HIUR CHART – AIMING FOR ANOTHER RECORD HIGH?

Keep this one simple

Uptrend consolidating

Watch 2750… if it becomes support, a run at the record high would seem inevitable

Should 2758 be broken, it would then need to become support for 2780-00 to come on the radar.

Back below 2739-50 would cool the risk.

[GVI Forex]

EURUSD 4 HOUR CHART – FOCUS ON 1.08

Current consolidation range is 1.0761-1.0839, a symmetric 39 pip range either side of 1.08.

1.08 has printed 4 days in a row coming into today… see if this pattern can be extended or broken.. a break of this type of pattern often sends a directional signal.

So, 1.08 is clearly pivotal and will dictate the tone going forward.

[GVI Forex]

In our blog

Is the Trump Trade Back On?

 

[SF Monedge]

The next cycle for UsdJpy is a sell.  It is a matter of time.  There is potential the early stages occur in tonight’s Asian session but the probabilities are quite there yet with the US close.  It is long until it isn’t.

[GVI Forex]

BTCUSD W33KLY CHART – RECORD HIGH LOOMSS BUT?

Using the weekly chart to identify the key levels.

Upside at risk but there are obstacles.

Levels ahead of the record 73780 high =-> 70K and 62K

Upside at risk as long a 68+ trade.

Only back below 65-66K would deflect the risk.

[Belgrade Bobby]

USDJPY 4h

Supports : 153.200 , 152.800 & 151.920

Resistances : 153.500 , 153.900 & 154.300

If above 154.300 ( has to hold above it – not only simple break) road would be opened for 157.500 and possibly even 158.100

[Belgrade Bobby]

XAUUSD – Gold Daily

Supports : 2735.00 , 2725.00 & 2695.00

Resistances : 2745.00 , 2760.00 & 2780.00

Close tonight above 2735.00 would indicate  run for a new high, and ultimately 2835.00 over period of a few days.

Most important Support right now for this scenario to unfold is at 2695.00

[SF Monedge]

Expecting Sterling to fall back a little and present a somewhat decent buy side opportunity again barring something significant.  Current 2980.

[SF Monedge]

One might expect a little verbiage out of BOJ in Asia tonight to affect a less volatile tone with Yen and perhaps some slight covert allocation.  Market won’t hesitate to test them again, its like an old western gunfight when you see 154+.  Who blinks first.

[SF Monedge]

Sell side of Aussie should be your friend this week barring unforeseen circumstances.

[Author]

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