[GVI Forex]

Yesterday’s price moves look like a one-day wonder as long as the “50”: level holds on top (or bottom depending on the pair).

On the other side, only breaks of this week’s dollar highs would resume the current uptrends.

[GVI Forex]

US500 4 HOUR CHART -Make or break time for the S&P

Falling blue AT lines indicate momentum continues to build to the downside as equities in general remain under pressure as the reality of a Fed on hold sinks in.

The key focus for all equities is on the S&P 5000 level… it is probably more important than any technical level at this stage.

[SF Monedge]

I’m in on the short side of EurAud 6584

[SF Monedge]

Have been short GbpJpy and GbpChf from this mornings highs but have closed them here GbpChf 1337 and GbpJpy 192.30 although they may well drop further.

[michael Calif]

we continue to prefer scale-in sales above 2400 in June Gold futures, per the Option Profile currently existing

[GVI Forex]

XAUUSD 4 HOUR CHART 0 Markets taking a breather

XAUUSD consolidation range extended slightly on the downside to 2465-2398. This suggests using 2350-2400 as the range.

Expect support as long as it trades above 2350.

[GVI Forex]

FWIW all the ECB speak today clearly calling for a June rate cut.

[SF Monedge]

Now to Euro crosses.  Barring something unique for recent time frames I am looking for EurGbp 8550 area to hold.

[SF Monedge]

Overall trajectory in AudCad has shifted to sell so preference now is selling (about a day out) near 8870.  Same with AudNzd so selling the approach to 0890.   AudChf remains bid overall so preference is to buy near 5850 but already on the sell side of 5870.  In my view anyway.

[SF Monedge]

JP – My plot dots are clustering Dxy 106.10.  That means this is it here for now for Usd (hence the rather risky Gbp purchase which is locked green) or one more pop to 106.20 for the battle to turn the tide again for a more suspended time.

[michael Calif]

overall, USD futures down – Euro futures up for the near term remains the play for us, per Option Profile

[GVI Forex]

As I posted earlier *EURUSD is currently at 1.0650)

It leaves us with a focus on yesterday’s breakout level at 1.0665 needing to hold to keep a bid. Otherwise, look for 1.0650 to exert its magnetic pull.

[michael Calif]

still expecting June Japanese Yen futures to rally higher from under.6550, per Option Profile  (.6534now)

[SF Monedge]

Gbp buyer from 2440/50 area and AudCad from 8848 bid.

[SF Monedge]

106.10-20 area Dxy should run into some resistance if seen.  Same with Dow futures around 38240 if there is enough conviction to get it there.

[SF Monedge]

Was holding sell side overnight on multiple Yen pairs.  Buy side of Aud and Eur crosses into the selling looks to have decent R/R so a buyer around current levels (just below)

[GVI Forex]

USDJPY 4 HOUR CHART – TRAPPED FOR NOW

With Japan (and S Korea) discussing the strong dollar with the US, the intervention threat stays on the table. This suggests tacit approval should Japan choose to intervene on its own.

However, given the fundamentals (i.e. interest rates) and a generally strong USD, intervention would likely be a questionable strategy and seen as a stopgap.

With that said, it pays to be on alert after the IMF/World Bank meetings end.

Lookjing at the chart, the current range is 153.87-154.77 but 155 is clearly the market line in the sand,

[GVI Forex]

THIS IS ONE OF OUR CLASSIC BLOG POSTS ON WHAT IT TAKES TO BE A WINNING TRADER RATHER THAN A LOSING ONE

What Differentiates a Winning Trader from a Losing One?

[GVI Forex]

Upside beat in Philly Fed

ECB Villeroy reiterated barring a surprise we should cut rates at the next (June) meeting

[GVI Forex]

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

A sharp retreat in oil prices and a rare joint warning from major economies against excessive dollar strength have helped calm restive markets just as Big Tech earnings start to hit.

Morning Bid: Recoiling oil and dollar sow calm as tech earnings loom

[Author]

Posts