For those of us who like to play around a bit with crosses, Nok/Jpy moves a little slower than other pairs and appears to be targeting 14.35 again. Bias has been decidedly buy side in the prior 10 days, any declines have not pierced outer range pivots but have been compromising upside key value areas and, 14.35 is one of them. Any price activity from 14.32 is likely to pull back today/overnight in our model.
Hi Bobby, top of the day to you. I do not believe it will make it that low, more likely 0820+ area on a decline and not strong odds it makes it there. Going with market behavior which at present appears to be the market finding a balance in this area until we have events/data that would move things.
DLRx 103.68
basiCALLY PUPPY is has an ambivalent relationship with traders they love it but don’t like it.
meaning … that the pup has, at least sofar, limited upside potential
unless some monster reason driver pops on the scene.
10:00nyt – new home sales
10:30nyt – dallas fed manuf index
13:00nyt – 5yr paper auction
A look at the day ahead in U.S. and global markets from Mike Dolan
Chastened interest rates markets are now inclined to doubt there will be any U.S. monetary easing in the first half of this year, prompting a minor stepback in record high stock indexes into a new week dominated by the latest critical inflation update.
Morning Bid: Booming stocks step back as PCE hoves into view
EURUSD Intraday
1.08600 – 1.08800 Resistance zone
Supports are at 1.08400 and 1.08350
We have two highs up there, with the later one a bit lower….does it mean something ?? Not necessarily – it all depends on next few hours – if we start a correction from here, it might be able to surmount the highs and continue it’s Up move. Otherwise it might just run out of steam .
One idea can be Buying it in 1.08350/400 area with the Stop just below 300 , for the test of previous highs…so risking 5 pips for possible 30-40. Problem is the time and lack of any serious data today…nothing to move it sharply…
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