[ST London]

Still almost 3 months to go but forecasts for eurusd 1.20 are not looking good.

[GVI Forex 2]

French political budget battle

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

EURUSD break 1.1645 

• My guiding principle that the Forex market lives to run stops was evident today with the run through 1.1645, which ends thoughts, at least for now, that the uptrend can be revived..
• Supports: 1.1600, 1.1574,  1.1527
• Resistance: 1.1645-55, downside exposed while below it
• Intra-day: 1.1606– 1.1635

EURUSD DAILY CHART

[GVI Forex 2]

XAUUSD (GOLD): Smashing through the 4000 barrier

• The opening words on the show Star Trek saying… “to boldly go where no man has gone before” can be applied to GOLD smashing through the 4000 barrier like a knife slicing through butter.
• 4000 now becomes pivotal… strong bid above it, below bull fever cools
• Otherwise, only resistance is at the new record high (4040 so far). See if 4050 can cause a pause.

XAUUSD 1 HOUR CHART

[GVI Forex 2]

Forex Market Snapshot

• The dollar is trading firmer, led by USDJPY with a firm move above 152 and the NZDUSD after the RBNZ cut rates by 50bps.
• USDCXAD (about unchanged) and GBPUSD are lagging.
• Gold is attracting the most headlines by smashing through $4000.

[GVI Forex 2]

USDJPY 152 now pivotal

• As noted earlier, use 152, 155, 158 as key levels depending on whether 151.30 becomes support
• Now use 152 as the bias setter, if becomes support then 153.50 enroute to 155 ..
• Below 152 cools the risk, support as long as 150.90-151.30.

USDJPY WEEKLY CHART

[GVI Forex 2]

XAUUSD (GOLD): 4000 on the radar

• Too close to 4000 not to make a run at it.
• No crystal ball here: What comes next depends on whether 4000 is tested/broken and then becomes support or is tested and mission accomplished or pauses below it.

XAUUSD 1 HOUR CHART

[GVI Forex 2]

In out blog

Fed Faces Dilemma Ahead of October 29 FOMC Meeting as Shutdown Delays Key Data

With the next Federal Reserve (FOMC) decision scheduled for October 29, policymakers are facing an unusual challenge: the government shutdown has delayed critical economic data, leaving the Fed “flying blind” just weeks before its next interest rate call.

Fed Faces Dilemma Ahead of October 29 FOMC Meeting as Shutdown Delays Key Data

[Mtl JP]

GOLD now commands $4000

It was around $400 in early 2005, 20 yrs ago.
Crazy ?

[Belgrade Bobby]

Opendoor Technologies Inc. Stocks – OPEN

Open tested lower today, but stayed short of a support at 8.35 – actual low 8.41

Resistances: 9.50 & 9.70

Supports: 8.85 & 8.65

If it manages to hit the new high tomorrow, we’ll be on the road to 11.70

[Belgrade Bobby]

Dell Technologies Inc. Stocks – DELL

Dell renewed its bullish mojo and is going for 164.20

On the bigger picture real target is waiting at 179.70 The all time high

It looks to me that it is not going to be all that we’ll see from Dell…

Supports: 149.30, 146.35 & 142.10

[GVI Forex 2]

BTCUSD (BITCOIN): Not immune from profit-tasking

• You either need a high risk tolerance or deep pockets to trade cryptos.
• Latest momentum broken by profit-taking but BTCUSD retreat from its record high would need to move below 120000 to suggest a more serious squeeze on longs.

BTCUSD 4 HOUR CHART

 

[GVI Forex 2]

Newsquawk Market Wrap

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

Newsquawk Stock Market Wrap

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

NAS100 War not over

• Battle for 25000 swinging against the bulls after a retreat from a new record high and an outside day.
• The war, however, is not over and dependent on 24719 holding to contain the downside.In any case, assume high is in and consolidating for now unless/until the new record high is taken out.

NAS100 4 HOUR CHART

[GVI Forex 2]

US500 (SP500): Shaken but damage not fatal

• Can’t ignore an outside day after a retreat from a (marginal) new record high (6757)
• However, a more serious retracement would need to see  6693 broken
• Otherwise, assume the record high is in (6757) and at least consolidation unless/until it is broken.

US500 4 HOUR CHART

[GVI Forex 2]

Newsquawk US FX Wrap

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

Preview: RBNZ policy annoiuncement

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

NZDUSD: Waiting for the RBNZ rate cut decision

• kiwi showing no bounce ahead of the RBNZ
• Key levels 5754 and 5845
• Other supports” 5786 and 5768.
• Wild card is whether the rate cut will be 25 or 50bps but RBNZ will likely stay dovish.

NZDUSD 4 HOUR CHART

 

[Mtl JP]

canadian govvy mouthpiece CBC reports carney’s visiting donald thnusly
–
“Trump calls Carney ‘world-class leader,’ says no trade deal yet because ‘I want to be great, too’”
Updated5 minutes ago
Second Carney-Trump Oval Office meeting ends with laughter before closed-door talks begin

I am happy that carney’s 2nd meeting ends with laughter for the plebs.
Next lets see how pristine or chewed up carney emerges from behind the closed-door

[Mtl JP]

carney goes to trump’s land
–

“Trump says U.S. in ‘natural conflict’ with Canada over cars, steel”
Trump expressed ambivalence about continuing the USMCA and said he might do separate trade deals with Canada and Mexico
according to globe n mail

[GVI Forex 2]

USDJPY: While above 151.30 target is 152.00

[GVI Forex 2]

USDJPY: Why is 151.30 important?

• Stops just run above 151.30
• Huge void between 151.30 and 158.84
• Use 152, 155, 158 as key levels depending on whether 151.30 becomes support
• Shorter-time frame support 150.70-90

USDJPY WEEKLY CHART

[GVI Forex 2]

XAUUSD (GOLD): Almost got to 4000

• • XAUUSD not immune to some profit-taking, especially after a run at 4000 paused at 3991.
  • It is premature to call it a failure unless 3940 followed by 3922 are broken.
  • However, risk is cooled while back below the former record high broken today at 3977.

XAUUSD 1 HOUR CHART

[GVI Forex 2]

Forex Market Snapshot

• The dollar is trading firmer but off its highs and turning mixed
• EURUSD bounced from another intra-day double bottom
• USDJPY extending its high and faces key resistance at 151.30\
• Weakest remains the NZDUSD ahead of Wednesday’s RBNZ rate decision.
• Mood turning to rIsk off… stocks down, bonds up (yields down), reversing earlier price moves.

 

[GVI Forex 2]

Is this hitting stocks?

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

Tech led selling hitting stocks… may have something to do with a Nvidia story and chip rentals… searching for details

[Mtl JP]

DLRx 98.475 at 11:04 AM EDT (on cnbc)
US 10-yr 4.144%

EURO 1.1667
currently under its 50dma O(on gv-sourced price feed)

USD is “hot” in the and equities still appear willing if not able to keep on climbing
political uncertainty one might say, both in the US, M/E and EUROPE (france)
and in which USD currently is on the up-n-up, even yield spread – altho diminished continues to suggest in favour of the euro

with respect to
EURO 1.1673 as I type
I am biased. Biased to BoD the puppy as long as it is N of 1.1650.
ATM hard to see it rush N of 1.1750

Yakkers
few have already yakked, some more are left to yak yet:
kaskkari, nagel, lagarde, miran, escriva and muller

[GVI Forex 2]

Inflation expectations still sticky

Source: Try Newsquawk free for 7 days

[GVI Forex 2]

NAS100 (NASDAQ): Battle for 25000 rages on

• New record high not following through
• Now dependent on 24978=25004 holding to keep a bid focused on 25000+
• Back below 24917=24936 would raise the risk of a retracement

NAS100 1 HOUR CHART

[Author]

Posts