A very timely article in our blog ahead of Warsh speech
How Market Expectations and Economic News Move Markets

XAUUSD (GOLD) 4 HOUR: Consolidating ahead of Warsh speech
Trend: UP Momentum: Consolidating
So far unable to shake a focus from 4600 as it trades in a 4565-4617 range, one that is too tight to last too long. On the upside, a move back above 4643 would be needed to break down momentum.’ On the downside, look for 4650-65 to be the obstacle to 4500-20.

BTCUSD WEEKLY: 80K pivotal
Trend Up Momentum: Trying to revive up
Testing 80k+ again after retracement did not come close to breaking the uptrend. Recent high at 81252 still intact and break is needed to avoid a lower high. Key resistance remains at 82711, above which would open a big void on the upside. To state the obvious, 80K is clearly pivotal in setting its trading tone.

NAS100 (NASDAQ) 4 HOUR: 30K not yet back on the radar?
Trend: Looking to confirm an up Momentum: Down broken
NAS100 building off higher lows (red lines) pointed out this week but has to take out 29600-670 on this (CFD) chart to put bulls in control and 30K back on the map.
Keeps a bid while above 29344.
US500 4 HOUR: 7700 now pivotal
Trend: Long term up Momentum: Down broken
US500 building on the higher lows (red lines) pointed out this week by breaking 7700. This has broken down momentum but to shift it the other way, 7728 and 7747 (on this CFD chart) would need to be taken out.. In the meantime, needs 7700 to hold to keep its bid with fallback support at 7690.

A scream for transparency
Economists want Warsh to share more on his view of the economy at Jackson Hole, says CNBC survey – By Steve Liesman
Eighty percent of CNBC Fed Survey respondents say the Federal Reserve Chairman Warsh should provide more insight into his economic views.
*****
Theme: “Figures don’t lie, but liars figure” – Mark Twain
EURUSD 4 HOUR: Why 1.1650 remains pivotal
1.1650 = midpoint of two key round numbers. 1.15 and 1.18.
If 1.1650 becomes so;id support, then 1.18 becomes a target
If 1.1650 fails to become support and becomes resistance, then range goes back to 1.15-1.16
1.1642 currently being tested (low so far 1.1649)

XAUUSD (GOLD) 4 HOUR: Still on the defensive
Trend: UP Momentum: Short-term down
On the defensive but so far trading above yesterday’s 4583 low, which needs to hold to turn this into consolidation rather than a further retracement. In this regard, no key levels to note within 4500-4600 other than 4583 and 4519 (23.6%). Resistance starts at 4643.

© 2024 Global View
