[GVI Forex]

Newsquawk.com paid for itself today reporting Waller comments vs. an illogical market reaction to them.

[GVI Forex]

Markets seemed to be reacting to Fed’s Waller’s comments that several more months of good inflation data is needed but the rest of his remarks were not hawkish.

Just an excuse to run stops?

[Belgrade Bobby]

EURUSD 4H

Resistance at 1.08800

Support at 1.08500 & 1.08250

Close of this Bar below 1.08550 would call for attack at supports and consequently run for 1.08150

Close above 1.08650 would negate that scenario and we’ll have test of 1.08800

 

[GVI Forex]

I have a serious question. When do Fed officials find time to work given they seem to be making speeches all the time?

Federal Reserve Board Governor Christopher Waller, New York Fed President John Williams, Fed Vice Chair for Supervision Michael Barr, Atlanta Fed President Raphael Bostic, Cleveland Fed chief Loretta Mester, Boston Fed chief Susan Collins and Richmond Fed boss Thomas Barkin all speak.

[GVI Forex]

EURUSD 1 HOUR CHART – GUESS WHERE THE LOW HAS BEEN?

i could repeat the Power of the “50” Level and how it impacts trading sentiment.

So, guess where the EURUSD low has been so far today – you are right if you said 1.0850

By itself, it is just one indicator but you can see that it changed the early mood in this currency but nothing to get excited about in a 24 pip range.

Power of the “50” Level

[GVI Forex]

With Gold taking a breather, the question asked in this article, which has stood the test of time ….

Is the Gold rally going to stop, and when?

Is the Gold rally going to stop, and when?

[GVI Forex]

The next key event is the Canadian CPI

See our Economic Calendar

[GVI Forex]

A look at the day ahead in U.S. and global markets from Mike Dolan

Partly due to the absence of top-tier economic news this week, world markets have found a relatively calm plateau with stocks near their latest records – and even fizzing metals prices cooling a touch.

Morning Bid: Calm markets hover near highs, metals step back

[GVI Forex]

It is easy to get lulled into complacency when volatility is low and ranges are narrow. However, this is the time to raise your alert as markets can move when you least expect it as I explain in the following:

Why Complacency Can Be a Trader’s Worst Enemy

Why Complacency Can Be a Trader’s Worst Enemy

[GVI Forex]

BTC 1 HOUR CHART – TAKES CENTER STAGE

While XAUUSD takes a pause, attention has shifted to BTC which has moved back above 70000.

As I have said many times, I prefer to look at what I call pivotal; levels rather than fine-tune technical chart points.

In this regard, 70000 now sets the bias with the major record high (not seen on this chart) looming at 73389.

Using chart levels, BTC maintains a bid as long as it trades above 68887 but 70000 is clearly the level that will dictate whether it makes a run at the record high.

[GVI Forex]

GBPUSD 1 HOUR CHART – bID DESPITE LOOMING CPI

Logic would normally say GBP should be trading on the soft side ahead of what is forecast to be a sharp drop in CPI to be reported on Wednesday.

So far, this has not been the case but keep this in mind as the day winds on.

Meanwhile, GBPUSD is maintaining its bid while above 1.2696 with 1.2720 guarding key resistance at 1.2726. Above this level, there is a void until 1.28+

[GVI Forex]

AUDUSD 30 MINUTE CHART – AMAZING TRADER (AT) TRADE ALERT

AT Alerts are built into The Amazing Trader charting algo. This is an alert playing out in real-time. (buy .66547/take profit .66711)

In this alert, with a 0.25% risK and a 1.25x reward, the target was just hit as I am typing.

Visit The Amazing Trader

[Mtl JP]

50th G7 summit June13-15 2024
Janet & G-7 against China

G7 Italy 2024 Foreign Ministers’ Statement on Addressing Global Challenges, Fostering Partnerships

8. China: do as we say or !

China is projected to be the world’s economic champion for the next five years, with its growth bigger than all the Group of Seven (G7) countries combined, according to the International Monetary Fund (IMF) forecast. – Bloomberg

China will account for about 21 percent of the world’s new economic activity by 2029, compared to 20 percent from the entire G7, and almost double the nearly 12 percent for the U.S.

G7 countries slam Chinese firms’ support for Russia’s defence industry
Ministers say transfer of weapons components is enabling Russia to ‘reconstitute and revitalise’ its defence production. – Apr. 20

G7 to discuss global trade risks after US tariffs on China
Reuters
— U.S. President Joe Biden unveiled this week a bundle of steep tariff increases on an array of Chinese imports including electric vehicle (EV) …

Apr 19, 2024 — We express our strong concern about transfers to Russia from businesses in the People’s Republic of China of dual-use materials and weapons …

China Responds
Speaking to the media on Monday, Wang Wenbin, spokesman for the Chinese Foreign Ministry, rejected the statement accusing the leaders of having a “cold war” attitude towards China. Meanwhile, the Pro-Beijing press stressed China’s rejection of the so-called “Western narrative” and warned the G-7 not to act as arbiters of global order, and not to interfere in China’s internal affairs.

[Mtl JP]

janet is expected to attend G-7

China downsizes holdings of US treasury bonds to $775 billion: data

[Mtl JP]

lol , imagine … the cheek

–

House Republicans are working on a bill to sanction the ICC after its prosecutor sought arrest warrants for Israeli and Hamas leaders

[GVI Forex]

THIS IS ONE OF MY MUST READ ARTICLES. WHY? BECAUSE I HAVE EXPERIENCED IT AND SWORE NEVER TO LET IT HAPPEN AGAIN.

It is often said that 95% of those trading lose money. While the actual percentage is not that high, it is a fact that the majority of forex traders lose. There may be many reasons for it but the one I see as a major one is what I call the Death Spiral.

How to Avoid the Forex Trading Death Spiral

How to Avoid the Forex Trading Death Spiral

[GVI Forex]

AUDUSD 4 HOUR CHART – DOUBLE TOP?

 

AUDUSD struggled above .6700 but to fully negate the upside risk would require a break below .6628.

A more immediate level is around 6650, which needs to hold to keep .6700 on the radar

Otherwise, a move below .6648 would put.6628 in play.

[GVI Forex]

AUDUSD 4 HOUR CHART – DOUBLE TOP?

AUDUSD struggled above .6700 but to fully negate the upside risk would require a break below .6628.

A more immediate level is around 6650, which needs to hold to keep .6700 on the radar

Otherwise, a move below .6648 would put.6628 in play.

[SF Monedge]

Nothing has changed since prior post, internals in UsdJpy have remained overloaded on the sell side.  At a minimum that will usually cap upside gains to being non-substantial.

[GVI Forex]

BTC DAILY CHART – Trying to play catch-up

BTC playing some catch u.p.. as I have said many times, I look at pivotal levels, such as 60k, 65k and 70k as well as the patterns on a BTC chart more thn specific technical levels in something that can move 5-10$ in a day or even over a weekend.

So, to keep it simple, if it can stay above 65k, then 70k becomes the focus with major/record levels looming above it.

[Author]

Posts