EURUSD 30 MINUTE CHART – REAKOUT?
While the technical focus of longer-term charts is on the break of 1.0693, short-term charts show yesterday’s 1.0699 as a key resistance
with a sell bias below it.
On the downside, there are no obvious levels so use the day low as the closest one. As noted earlier, the Power of 50 level at 1.0650 becomes a pivotal key level in the absence of near-term support.
EURUSD 1.0677
No apparent news I have seen other than a delayed reaction to risk of ECB diverging with Fed and cutting rates sooner rather than later.
Break of 1.0693 major support leaves a void on the downside if the breakdown holds. 1.0650 is the next likely level while below 1.0693
Note euro is weak in various crosses as well.
sorry brothers and sisters if this is boring
from the “useless crap” file:
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“We remain on our projection that we would see, by the end of the year, the Fed being in a position to take some action in a direction of bringing interest rates down,” Georgieva said on CNBC’s “Squawk on the Street.” “But again, don’t hurry until the data tells you you can do it.”
People should be optimistic about the future of the United States as the country does not feel as much upward pressure on labor costs compared with other places, the former World Bank CEO said. And the U.S. government can play a relatively bigger role in keeping the economy from overheating, Georgieva said, which is another reason for optimism on the country’s financial health.
only from a salaried character whose paycheck comes in every week regradless of genious or joker …
“THEY” just wont give up the theme
–
Might
– We might see two rate cuts by the end of the year, says Wharton’s Jeremy Siegel (CNBC)
Could
– (Reuters) – The Federal Reserve could start interest-rate cuts as early as its late-July meeting, traders bet on Thursday, after a government report showed producer prices in March rose a bit less than expected. …/..
And with that peasants feel free to place their bet(s)
XAUUSD DAILY CHART – ANOTHER RECORD HIGH
If you look at a daily chart you would just call it a short-lived correlation before setting another record high.
If you were watching the sharp move up on US bond yields you might have expected a deeper retracement.
Whatever the case, XAUUSD is back in unchartered waters with 2400 probably the next target in the ansebce of any resistance pther than the new high.
On this chart, a move back below 2319 would be needed to negate the risk.
For those using The Amazing Trader, this is a clear ladder-up pattern with 2319 the last red line before a new high.
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