[GVI News]

In this bazarro trading world where bad economic news is good news for stocks (lower intetest rates) and gold goes up for the same reason.

[Mtl JP]

Comedy lines curtesy cnbc h/page:
–
‘Big Short’ investor Michael Burry accuses AI hyperscalers of artificially boosting earnings

AI stocks have been hit. Why this investor suggests buying the dip on Alphabet, other hyperscalers

[ST London]

Stocks rallying is more lile a typical US semi holiday markwt.

[GVI Forex 2]

EURUSD UPDATE

• Outperformer today, 2nd in line behind the CHF
• Current pattern: 5 green candles (up days) in a row
• Big picture: 1.1668 = key resistance… needs to be broken to fully confirm end of the downtrend.
• 1.1590 needs to hold as support to keep risk on a so far tough 1.16+,

EURUSD DAILY CHART

[GVI Forex 2]

BTCUSD (BITCOIN) UPDATE

• Finding 107000+ too tough and now dependent on 101362 holding to contain the downside.
• Watch 102000 as above it should find a bid.

BTCUSD 4 HOUR CHART

[GVI Forex 2]

NAS100 (NASDAQ) UPDATE

• Holding above 25358 to contain the downside but lagging others (SP500 back to ABOUT unchanged, DJIA up).
• Otherwise, no change… still short-term momentum down but contained, k..ey resistance still at 25783

NAS100 1 HOUR CHART

[GVI Forex 2]

US500 (SP500)

• Chart suggests beware of holiday thinned liquidity.(Right click on image to open a full screen in a new tab)
• Range 6810-31

US500 1 HOUR CHART

 

[GVI Forex 2]

XAUUSD (GOLD) UPDATE

• What caught my eye is not only a pause below the 4160 target but also just below the Power of 50 (4150) level.
• Downside so far contained by 4097, which is above the 4071 level that needs to hold to keep the risk pointed up.

XAUUSD 1 HOUR CHART

[GVI Forex 2]

Newsquawk US Equity Open

(Right click on image to open a full screen in a new tab)

Source: Try Newsquawk free for 7 days

[ST London]

Usually on a semi US holiday they would push stocks higher. Maybe it was all done yesterday but so far disappointing today.

[GVI Forex 2]

NAS100 (NASDAQ) UPDATE

• Momentum turning to the downside after failing  to test the key 25783 resistance but contained unless 25358 is taken out.
• Level bulls do not want to see broken is 25175 as that would put 25000 back in play,.

NAS100 1 HOUR CHART

[GVI Forex 2]

Proposed US data releases schedule

(Right click on image to open a full screen in a new tab)

Source: Try Newsquawk free for 7 days

[Belgrade Bobby]

FX option expiries for 11 November 10am New York cut

A rare day with pretty much an empty board in terms of option expiries for today. The full list can be seen below with it comprising mostly of the ones for tomorrow.

With nothing else to work with, traders will be left to their own devices and having to once again decipher the risk mood and US shutdown developments to sort out trading sentiment today.

[GVI Forex 2]

US500 (SP500)

• Consolidating above 6800 after backing off from a 6846 high.
• Keeps a bid while above pivotal 6800 but 6771 is the level that needs to hold to keep risk pointed up.

US500 1 HOUR CHART

[Belgrade Bobby]

EURUSD Daily

As I suggested late night Sunday, Daily prevailed over weekly chart…for now

EUR stayed well above support at 1.15350 in last 48h and we got that push Up finally.

Downtrend channel resistance line at 1.15900 was broken and now last resistance that can cut short this rally is waiting at 1.16250.

If taken out, road would be open for levels around 1.20 – of course over period of time…weeks at least.

[GVI Forex 2]

USDCHF UPDATE

• CHF outperforming since yesterday following the announcement of a trade deal with the US.
• 7955-75 blocks the key level at 7923.
• While 8000 should be pivotal, downside at risk while below the trendline..

USDCHF4 HOUR CHART

[GVI Forex 2]

USDJPY UPDATE

• Up momentum broken after failing at the 154.50 line in the sand level mentiuoned here many times.
• Now needs to stay below 153.78 to target 153.40 and the trendline.
• If not, then 154 remains a pivot.

USDJPY 1 HOUR CHART

[GVI Forex 2]

ADP jobs down, USD dips, T Notes up (yields down)

(Right click on image to open in a new tab)

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

ADP weekly employment due next. Should be a non event but news algos are starved for US data’

[GVI Forex 2]

Newsquawk Pre Market Movers

(Right click on image to open in a new tab)

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

EURUSD UPDATE

• Trying to catch a bid but only a break above 1.1583-91 would take it out of its range.
• Right click on chart to open a full screen in a new tab to see levels

EURUSD 1 HOUR CHART

[GVI Forex 2]

Newsquawk Daily US Opening News

(Right click on image to open in a new tab)

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

CHF outperforming today

(Right click on image to open in a new tab)

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

Why GBP is weaker (jobs data out earlier)

(Right click on image to open in a new tab)

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

German ZEW: Little impact from data

(Right click on image to open in a new tab)

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

XAUUSD (GOLD) UPDATE

• It has been one way up since the start of the week and now the test comes.
  You can see by the chart why 4160 is so important as there is a huge void above it. 4144 (tested) stands ahead of it.
• Intra-day supports 4106-24 but key level to keeping the bid is at 4071..

XAUUSD 4 HOUR CHART

[GVI Forex 2]

Forex Market Snapshot

The dollar is trading mixed to firmer with the risk off mood cooling slightly and cross flows a dominant feature in a partial U.S. holiday thinned market.

• EURUSD is up after holding above 1.1541, helped by firmer crosses, most notably vs. the GBP
• USDJPY is firmer above `54 but so far failing to get through 154.50
• GBP is weaker after the UK jobs report but off its low.
• CHF is firmer, helped by reports of a trade deal with the U.S.

[GVI News]

Veterans Day

Stocks and futures are open

Bonds and government offices are closed

Banks are closed

[ST London]

Gbp is down after UK jobless rate rose to 5%

[ST London]

Gbp is down after UK jobless rate rose to 5%

[Author]

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