[GVI Forex]

Watch headlines for Powell comments in panel discussion.

[SF Monedge]

I’m getting long dollar

[Mtl JP]

USDJPY 156.454-ish
–
hot hot hot. eager players not heeding spreads
for now

[Belgrade Bobby]

Mtl, your conclusions – right on spot !

[GVI Forex]

NAS100 30 MINUTE CHART – DOWN LIKE AN ELEVATOR UP LIKE AN ELEVATOR

The usual phrase is up like an escalator, down like an elevator but price action after the US PPI report whipsaws in all markets.

This included US bond yields where the 20–year spiked to 4.525% and then fell to 4.455% (last 4.467%)

Looking at this chart, iNAS100 has yet to test its pre-PPI blue AT line high at 18220 so a key level on top. Note CFD price feeds can vary between brokers so match the chart patterns you see on this chart with what you see on yours.

Next up is Fed Chair Powell

[Mtl JP]

EURDLR breaking out N of 89 & 200dma conjunction
post-PPI and ahead of
10:00am jerome yak – maybe an attempt at clarifying his policy’s timing-itch

maybe euro 1.0850/75 on target radar. (not a recommendation , just a technical observation)

[Belgrade Bobby]

EURUSD Daily

Make your own conclusions…

[Belgrade Bobby]

EURUSD 4H – Update after the Data

So 1.07650 held it’s ground and 1.08050 taken out.

Has to close this bar above 1.07900 for more gains. Target in 1.08500 area

[GVI Forex]

The old adage it is the reaction to news that matters has played out again with USD sellers lying in wait on the new jerk move up in the USD after the hotter PPI.

Same with binds… yields spiked higher and have since come back below 4.50%.

[SF Monedge]

I like selling Sterling today lets see how the data goes.

[GVI Forex]

Next up is US PPI, normally a non-event but in the current world, where even a 0.1% miss can see a volatile reaction, it pays to be on alert.

[GVI Forex]

GBPUSD 4 HOUR CHART – 1.25-1.26?

While the earlier fall-off-a-cliff move was unnerving, GBPUSD remains within 1.25-1.26, suggesting the 1.2550 level will dictate its intra-day bias.

As noted earlier, 1.2500-02 is a key level as there is qa voud below it.

On the upside, 1.2570-94 guards the key 1.2634 level.

[GVI Forex]

URUSD 4 HOUR CHART -CUP HALF EMPTY OR HALF FILLED

Depending on how you look at it EURUSD has shown some resilience but would need to take out 1.0813, which is in its 2nd week of not being tested,  and stay above 1.08 to suggest more scope on the upside.

Support is clear at 1.0760 with supp[ort as long as it holds.’

There is a lower top at 1.0807 from yesterday but only a break of 1.0760 would turn this into a shift in directional risk.

[GVI Forex]

Summary

Euro/dollar down 2.4% this year, off 5-month lows

Euro weakness limited as economic divergence with US ebbs

Parity still a possibility further out, analysts say

LONDON/MILAN, May 14 (Reuters) – The euro has resisted falling to parity with the dollar for now, thanks to a rosier economic backdrop, to the relief of European Central Bank policymakers who could be struggling to detach themselves from the Federal Reserve’s monetary policy outlook.

Euro keeps dollar ‘gorilla’ from scuppe ring ECB rate outlook

[GVI Forex]

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

Macro markets have basically frozen ahead of this week’s big U.S. inflation releases, with sideshow entertainment provided by a fresh burst in activity in so-called ‘meme stocks’ while earnings updates and deals sagas dominated overseas.

AMERICAS Inflation vigil sees single stock sideshows

[Mtl JP]

Biden raises tariffs on $18 billion of Chinese imports: EVs, solar panels, batteries and more
* President Joe Biden plans to impose a 100% tariff on Chinese electric vehicle imports, a 50% tariff on Chinese solar cells and a 25% tariff on certain Chinese steel and aluminum imports.
*The announcement comes after weeks of White House officials warning Beijing to amend certain trade practices that the Washington argues have weakened global supply chains.
* Administration officials predicted that these tariffs will have “no inflationary impact.”

Biden administration has so far maintained that these tariffs will have “no inflationary impact” because they are not “across the board”

[Mtl JP]

US 10-YR 4.479% -0.002 | 6:20:52 AM EDT
–
expecting a limited ranges day ahead of “key inflation” data

[GVI Forex]

XAUUSD 1 HOUR CHART – RETRACEMENT OVER?

As I pointed out yesterday, 2328 = 61.8% of 2303-2328.

The low at 2332 paused above this level so for now treat the move down as a retracement,
To confirm, XAUUSD would need to move back above the 2350 level indicated on this chart (another example of the Power of 50).

[GVI Forex]

I just added this to the USDJPY post below:

POWER OF 50: Notice that yesterday’s low was just below 155.50 and today’s high stalled just above 156.50 (156.54)_, which is another example of the power of the “60” level.

[Belgrade Bobby]

EURUSD 4H

May 13, 2024 at 5:10 pm

Support 1.07750 & 1.07500

For the continuation of Uptrend, I would like to see support at 1.07750 holding it’s ground (smaller time frames indicate a test of it )

So that was right on spot…what now?? Let’s see if 1.07900 will give a way for attack at 1.08500.

Small time frames indicates Buy mode…watch for Data today

[Author]

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