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USDJPY UPDATE:
- Post-election downtrend showing signs of running out of steam after repeated support (higher lows) in the 152s.
- However, a firm break of 153.75 is what would be needed to confirm USDJPY has lost momentum and shift the risk to 154.65, which guards a return to 155.
- Otherwise, focus stays on 153, a level that has printed 4 days in a row..
USDJPY 4 HOUR CHART
XAUUSD UPDATE
- Unable to shake its focus from $5000, which has traded for the 3rd day in a row (and 6 out of the past 8 days) and will eventually be the level that dictates whether bulls will or will not regain control.
- US holiday, China starting its week long Lunar holiday,US-Iran and Russia-Ukraine talks in Geneva tomorrow may be retraining the market.
- Intra-day range:4965-5043 (see chart)
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XAUUSD 1 HOUR CHART
Newsquawk Daily Asia=Pac Opening New
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ETHUSD UPDATE
- Similar to BTCUSD (currently testing 70K+) ETHUSD showing tentative signs of life with higher lows (1741 and 1894) and trading back above 2000
- However, there is a long way to go (3040) before the downtrend would be fully negated.
- In the meantime, 2000 needs to become support followed by a break of 2148 to build upward momentum.
- Otherwise, dependent on 1894 needs to hold as support to keep a bid and thoughts away from the low
ETHUSD DAILY CHART
Another US carrier going to the ME
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Newsquawk US Market Wrap Part 2
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Newsquawk US Market Wrap Part 1
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XAUUSD UPDATE
- Trying to regain a footing after yesterday’s sell-off but would need to get through the down trendline to put the bulls back in control.
- Recent history shows sharp retracements followed by new highs so will see if history repeats.
- Meanwhile, 5000 is clearly pivotal in setting the tone.
XAUUSD 1 HOUR CHART
XAUUSD UPDATE
- Trying to regain a footing after yesterday’s sell-off but would need to get through the down trendline to put the bulls back in control.
- Recent history shows sharp retracements followed by new highs so will see if history repeats.
- Meanwhile, 5000 is clearly pivotal in setting the tone.
XAUUSD 1 HOUR CHART
EURUSD follows Grman bond yields higher on this headline
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Market Update
Defensive trading into the long US holiday weekend
- US stocks trying to recover but so far US500 has failed on first attempt to hold above 6850 following its bounce from sub-6800 test
- NAS100 rally attempt paused shy of 24860, to keep it on the defensive but consolidating.
- XAUUSD rebound testing 5000+, which is currently acting like a pivot
- USD is trading cautiously irmer with the JPY lagging after leading overnight. EURUSD 1,.1850 remains pivotal
- BITCOIN is trying find some legs after yesterday’s bounce off 65000 yesterday but needs to gewt through 70-72K to break down momentum..
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