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Any US data will likely have an exaggerated impact given the absence of government data due to the shutdown
Next up S&P Global final services PMI
ISM Services PMI *more important
See our Economic Data Calendar
US500 (SP500) New record high but marginally
- New intra-day record high but only marginally at 6739
- Hard to suggest follow through in the absence of fresh news but only below 6693 would deflect the risk from the upside.
- Looking farther ahead, bulls likely hoping for an eventual end to the shutdown and a relief pop.
US500 4 HOUR CHART
BTCUSD Daily
Bitcoin took out all the resistances except one – 120.300
If it manages above it, forget all the RSI overbought situation and expectations of a sudden drop – it will just fly…
That was said last night….and flew it did
Next obstacle is at 124.560 and after it 126.700
Watching it at bigger time frames, it is possible that BTC can hit a new high and stop right there and go into correction once again.
But….if it flies above 126.700…well…picture paints somewhere around 160K as a target.
EURUSD 4h
I said last night: Close above 1.17300 would be a bullish sign
Close below 1.17150 bearish
Now EUR did not close below 1.17150, but also couldn’t reach above 1.17300
Intraday picture is slowly becoming Bullish , and close of this hour above 1.17350 would give EUR a chance to break above 1.17450 and start building the Up momentum
Broken link fixed
This article will put Thursday’s (and future) price action in perspective
How is Forex Trading Like the Hot Potato Game
XAUUSD (GOLD): Unstable range
- What should catch your eye is the unstable price action within 3800-3900
- 3874 => 3793 => 3895 => 3853 => 3897 => 3819 => 3866
- This suggests an unstable range that will be decided by a firm break from 3800-3900
- Meanwhile, expect more chop, keeps its bid while above 3800-20
XAUUSD 4 HOUR CHART
Forex Market Snapshot
The dollar is trading mixed to sllightly softer but well within this week’s ranges as the first few days of the 4th quarter have seen more chop than sustained moves.
JPY is an underperformer (up slightly vs. the USD)
US stocks have rebounded after s brief sell-off yesterday.
Markets are trying to adjust to having no key US data but it is like trying to steer a boat without a rudder
This article will put Thursday’s (and future) price action in perspective
How is Forex Trading Like the Hot Potato Game
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