USDJPY Day ahead :
Resistances at : 149.350, 149.600, 150.050 and the target at 152.650
Supports at : 148.950, 148.600 and 147.600
Yen is on the losing streak , as you would expect. It is very bullish on both – Daily and Weekly chart. If you have really traded Yen, you know that it can have some crazy drops , just to come back up with the vengeance.
Buying it at the current rate is a bit problematic, as any reasonable and useful stop would be at a minimum 30 pips away . Best scenario would be to see some retracement over night , and to be able to pick it up around the steep trend line at 148.600. But…it is up to you and your style….I said at least three million times in past the famous sentence : FFS, I should have bought it 😀
GBPUSD Day ahead :
Supports at : 1.26250, 1.26100, 1.25700 and 1.25150
Resistances at : 1.26450 , 1.27700, 1.27850 and 1.28300
As you can see from the chart, the Demon spends days in some sideways to nowhere , just to get wild once in a while.
My best strategy would be to play it like a range, taking into account that there is no fixed-visible range. Cable can hit extremes on both sides, just to come back where it was…more or less.
An idea is to Short it at 1.26450 for a run at 1.26100 ( conservative approach ) , or even 1.25700 ( adventurer level 😀
I have added some Fibo retracements for the fans of it, and for all of us to have some perspective.
EURUSD Day ahead
Resistances : 1.07950 and 1.08350/400
Supports : 1.07800 , 1.07700 and 1.07200
Judging by the current pattern, we should see the attack at the supports tomorrow, but expect as always for Europe to do some buying early euro morning…if they break through 1.07950 we should see at least 1.08200 ( depending on how they spent their weekends…)
Always check the Economic Calendar, to be sure you are not engaging when you shouldn’t.
THIS WEEK’S MARKET-MOVING EVENTS (all days local) – Economic Calendar
US consumer prices on Tuesday lead the week’s calendar, expected to remain steady on the month for the core but to slow on the year both overall and for the core. India’s CPI on Monday is expected to cool.
Tuesday will open with UK average hourly earnings (part of the labour market report) where noticeable cooling is expected. UK’s CPI will follow on Wednesday where the headline annual rate is expected to climb 2 tenths to 4.2 percent.
The first estimate for UK fourth-quarter GDP will be a Thursday highlight and is expected to come in unchanged on the quarter but rise 0.4 percent on the year. UK retail sales for the month of January will be posted on Friday and are expected to rebound from a weak November. Sizable contraction is expected for Eurozone industrial production on Wednesday.
US retail sales and industrial production are both on Thursday and both are expected to be flat (all data for January). On Friday, US consumer sentiment for February is expected to edge further higher after surging in January.
Econoday
US core CPI Y/Y chart from our Economic Calendar.- classic double top
Click on any indicator and a chart will open up.
Jay / re Next Week
CPI and after … will make you a believer eh ?
–
these are some animal spirits (posted earlier)
for your thermometer:
“Boy, Markets Do Not Want To Sober Up When They Read The News”
As long as we get January March May June(?), or even second-half 2024 *deep* rate cuts from the Fed, markets will remain drunk
Biden Admin Is “All Gas, No Brakes” On Economic Reflation; Nomura Warns “Running It Hot” Into Election Wrecks Powell’s Plan
…beware of “animal spirits 2.0″…and the ides of March.
Week ahead
Key focus to start, US CPI on Tuesday
Suggests a limit on the USD upside ahead of it
New ball game after the release.
See our Economic Calendar
Week ahead
Key focus to start, US CPI on Tuesday
Suggests a limit on the USD upside ahead of it
New ball game after the release.
See our Economic Calendar
Moody’s lowers Israeli credit rating, downgrades outlook from ‘stable’ to ‘negative’ – ToI
– warns ‘public finances are deteriorating,’ predicts ‘materially higher’ debt burden amid war in Gaza; says lowered outlook due to ‘risk of escalation’ with Hezbollah
Finance Minister Smotrich says Moody’s downgrade of Israel’s rating unreasonable, politicized – ToI
– says “the Israeli economy is strong by all measures.”
EU countries agree on new debt rules after Franco-German quarrel
Negotiators from the European Parliament and European Union member states have agreed on reforms to the bloc’s debt rules after long negotiations.
Belgian Finance Minister Vincent Van Peteghem said that the new rules “will safeguard balanced and sustainable public finances, strengthen the focus on structural reforms, and foster investments, growth and job creation throughout the EU.”
https://www.youtube.com/shorts/
3nmRoDXP25A
a little trading humor sometimes does a lot of good… LOL
Shorting is easy and perfectly legal don’t know why the regulators don’t like it as it makes markets to remain healthy.
Just put cash up front and and use 1% of that money while the broker provides you with 99% of the balance money to go short, your funds are blocked until the transaction is settled, he helps you to make some money by your offering to the bids from his inventory, and then he offers the balance of his inventory to the rest of the bids.
JP// February 5, 2024 at 4:34 pm #1242
I did mention the co-OP model is better and will save the USA… Corporate models are not the way. Think OWO vs NWO.
what if … over the week-end:
Twenty-fifth Amendment to the United States Constitution (wikipedia)
Section 3: President’s declaration of inability
Section 3. Whenever the President transmits to the President pro tempore of the Senate and the Speaker of the House of Representatives his written declaration that he is unable to discharge the powers and duties of his office, and until he transmits to them a written declaration to the contrary, such powers and duties shall be discharged by the Vice President as Acting President.
Section 4: Declaration by vice president and cabinet members of president’s inability
Section 4. Whenever the Vice President and a majority of either the principal officers of the executive departments or of such other body as Congress may by law provide, transmit to the President pro tempore of the Senate and the Speaker of the House of Representatives their written declaration that the President is unable to discharge the powers and duties of his office, the Vice President shall immediately assume the powers and duties of the office as Acting President.
Rachel Maddow suggests Joe Biden isn’t too old to be president because ‘he rides a bike’ – NY Post
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