[GVI Forex 2]

US500 (SP500)

Bulls in control with a slow creep to another intra-day record high (6495) with pivotal 6500 level yet to be tested.

Intra-day, keeps its bid while above 6473..

US500 1 HOUR CHART

[GVI Forex 2]

JP, there is a squeeze on EUR shorts taken on French vote concerns.

Re data: Friday’s release of July PCE is more important.

[Mtl JP]

… “take your pick” …

“they” are wheeling out voting “rebel” waller to yak on “monetary policy”
later today – 18:00 – after NY traders pack it in and poof home.

FED has perception issues with market.

[GVI Forex 2]

Little reaction to US data

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[Mtl JP]

EURO 1.1672

TO SOME a cruel recovery stretching from sub 1.16
– does it hurt grasshopper ?

I biased uP , price prancing N of 50dma gives me “that warm feeling”
Res 1.1725; Sup low 1.16

German CPI tomorrow
qtn is which half of betting traders is going to be the overdog ripping the belly of the underdog

[ST London]

What happens if data shows hotter PCE and lower jobless claums.

[Mtl JP]

ST 10:05 – “take your pick”

EURO 1.1674
Not on your list , I pick EURO galloping uP on spreads
why does market push spreads higher
curious ones might want to test market pulse for what matters to it
and also when it stops mattering and something else comes on pricing radar

[GVI Forex 2]

ECB Minutes Review… EURUSD extending high, trying to establish above 1.1665… ECB Minutes was not the catalyt

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[GVI Forex 2]

ECB Minutes (Full summary on Newsquawk)

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[GVI Forex 2]

US data up next:  Jobless claimns, 2nd estimate Q2 GDP and 2Q PCE,

See our Economic Data Calendar\

[GVI Forex 2]

USDCHF

Mission accomplished? Stops run below .7997 but so far with little follow through (low .7994).

.8000+ needed to slow the risk, BUT 8019-22+ would be needed to break the momentum.

USDCHF 15 MINUTE CHART

[GVI Forex 2]

FRA40 (CAC40)

Bounce from 7660 to a high at 78932 so far just filling the gap.

For intra-day, see if the one hour trendline can hold.

FRA40 4 HOUR CHART

[GVI Forex 2]

Got the stops above 1.1665… would now need to become support or focus stays on 1.1650

As posted

Risk on the upside comes from potential stops being closer to the up (above 1.1665) than the downside (below 1.1574)

[GVI Forex 2]

USDCAD

Bears in control after breaking the 1.3814 bottom of the consolidation range.

Dependent on 1.3720 holding as there is a void below it…. 1,3742 support stands ahead of it.

1.3788+ needed to slow the risk.

USDCAD 4 HOUR CHART

[GVI Forex 2]

Newsquawk Daily US Opening News

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[ST London]

What will the market focus on? Take your pick.

French vote
Russia stepping up attacks on Ukraine
Trump’s campaign to undermine Fed independence
End of month tomorrow ahead of a 3-day US weekend
Long range impact of US tariffs so far ignored

[GVI Forex 2]

EURUSD

Is EURUSD bid or just bid in an offered market?

To be bid, it would have to break 1.1665 to shift focus back to 1.17

If not, the downside risk remains while below 1.1665

Risk on the upside comes from potential stops  being closer to the up (above 1.1665) than the downside (below 1.1574)

In any case, how it ultimately trades above/below 1.1650 will dictate the answer.

EURUSD 4 HOUR CHART

[GVI Forex 2]

USDCHF

Anyone looking at a USDCHF chart will be focusing on two levels: .8000 (psychological) and .7997

Tough call with a big void below .7997 but so far .8000 seems to have been defended (low .8003).

On the other side, risk stays on downside intra-day as long as it trades below .8022.

USDCHF 1 HOUR CHART

[GVI Forex 2]

USDX (US Dollar Index)

In retreat after failing to test 98.87

Needs to hold 98.10 to keep fading hope that upside momentum can be revived.

For 98.10 to be broken, EURUSD (57.6% of the index) would need to establish above 1.1650

USDX 4 HOUR CHART

[GVI Forex 2]

XAUUSD (GOLD)

Bulls remain control but still  needs to take out 3407 to put 3450 and 3500 in play.

Expect a bid on dips while above 3367-73-84

XAUUSD 4 HOUR CHART

[GVI Forex 2]

Using my platform as a HEATMAP shows,,,

.. the dollar is trading more on the defensive after yesterday’s strong start failed to follow through. Focus shifts to US data: Weekly Jobless Claims, Q2 GDP and PCE (2nd estimate). French political concerns remain a cloud but in the background for now.

On order of strength vs the USD

1. AUD

2. CHF

3. JPY

4. NZD

5. CAD

6. EUR (focus back to 1.1650)

7. GBP

 

[GVI Forex 2]

EZ Sentimnent

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[Mtl JP]

Re “A must read after Wed’s price whipsaws
Forex Trading Tip: Watch Out for Stops and Use Them to Your Advantage!”

I simply LOVE the references to the predatory themes (via mildly crude words such as “hunt”) discussed in the piece.

FX is a very liberal market to enter, just like a blackjack table, but it also shows no friendship nor mercy to all would-be predators.

[Mtl JP]

POOF! … “good for increasing their anxiety” …
now that 1.1650 + printed.

also means that the mix of players around the table got balanced

and so players can now be looking at each through their mirror reflector glasses as they try to game each other’s reaction to next data release (minutes) and potential officialdom yakkers

[GVI Forex 2]

Addendum just added

A must read after Wed’s price whipsaws

Forex Trading Tip: Watch Out for Stops and Use Them to Your Advantage!

[GVI Forex 2]

Newsquawk Daily Asia-Pac Opening News

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[Belgrade Bobby]

Nio Inc. Stocks

And after 8 days of straight Up , here comes the pause…

Is it going to be just a pause , consolidation or full blown correction stays to be seen

Supports: 6.30, 6.05 & 5.90

I would like to see 5.90 holding any attempt for lower and creation of a footing for next rally…

[Belgrade Bobby]

Palantir Technologies Inc. Stocks – PLTR

And Palantir failed today….so that “next leg down” came through…

Support that might save the day is at 153.25.but don’t hold your breath.

If lost 142.35 comes to focus

[Belgrade Bobby]

Opendoor Technologies Inc. Stocks – OPEN

4.20 taken out as expected and 3.85 waiting to be tested

So top is now in place even for non believers …

Resistances: 4.37, 4.55 & 4.75

[GVI Forex 2]

US500 (SP500)

New record high (by 3 pts) not following through after negative reaction to Nvidia earnings.

.Needs to hold 6450 area to keep a bid focused on the new high.

US500 4 HOUR CHART

[Author]

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