What to trade / Low volatility
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One could consider , ass-u-me ing one thinks they know the characteristics such as seasonality, correlation-ability or maybe some other exploitable feature, ramp up leverage.
**** Personally ****
I just HATE the “I prepare myself for longer waits and much longer hours in front of the screen” option
There is a reason I code robot(s)
– Otherwise it ia failure of the education system.
This is a really good discussion worth reading
What Currencies Should a Trader Focus on in a Low Volatility Market]
ETHUSD
Ethereum Retraces: Here’s Why ETH Bulls Must Decisively Break Above $3,500
Ethereum Finds Strong Resistance At $3,500
Even as buyers expect ETH bulls to press on and push the coin above $3,700, a key resistance line, on-chain data shows that there is resistance. According to IntoTheBlock data on July 22, ETH has strong resistance at $3,500, which has been the case since July 16.
At this level, 3.13 million unique addresses bought ETH at an average price of $3,547. Therefore, if prices trend below this level, these holders are in red and contemplating exiting at a loss.
The fact that some addresses could be willing to dump and exit the market when prices fall makes the general environment fragile, a considerable hindrance to the upside. This makes the situation even dire, considering that ETH is not all that firm despite the expansion of July 15.
Tesla – TSLA
Tesla jumps 5% as Wall Street heavyweights rally
Shares of Tesla Inc TSLA rising ~5% on Mon, spearheading a rally in Wall Street’s tech-related heavyweights
** CEO Elon Musk on Mon said the electric car maker will have humanoid robots in “low production” for internal use next year, months after he announced a rollout by the end of 2024
** Musk in April said Tesla’s robot would be able to perform tasks in factory by the end of this year and could be ready for sale as soon as the end of 2025
** TSLA’s rally on Mon outperformed a 1.7% gain in the tech heavy Nasdaq
AMD President Victor Peng to Retire
SANTA CLARA, Calif., July 22, 2024— AMD today announced that AMD President Victor Peng is retiring effective August 30, 2024. He will continue to serve on the AMD executive team in an advisory role and support the transition until his retirement date.
Guess they should’ve forced him to retire a week or so earlier…
Nvidia – NVDA
Is Nvidia Stock a High-Risk Play Ahead of the U.S. Election?
As we approach the 2024 U.S. election, Nvidia NVDA stock has been on an increasingly volatile ride, leaving investors to wonder each day whether they’re in for an exciting adventure or a nerve-wracking drop. Last week, Nvidia was among the high-profile semiconductor stocks to turn lower, with the artificial intelligence (AI) chip leader responding to headlines from both President Biden and GOP nominee Donald Trump that ramped up the hawkish talk around advanced semiconductor tech and China trade. That followed closely on the heels of a rocky end to June for NVDA, with many investors taking profits after the stock’s 10-for-1 split.
USDCAD WEEKLY CHART
The following was posted over the weekend in the Global-View Trading Club Weekly Charts
Note USDCAD bounced off the 1.3707 level… last at 1.3772
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THe focus is on the BoC rate decision on Wednesday where expectations run as high as 80% for a rate cut.
This suggests support on dips ahead of the decision, starting at 1.3707-17.
Targets on the upside can be seen on the chart but 1.3750 and 1.3800 are the pivotal levels on top.
THIS WEEK’S MARKET-MOVING EVENTS (all days local)
The People’s Bank of China is expected to keep its loan prime rates unchanged on Monday. For the Bank of Canada on Wednesday, though views are split, a second rate cut is expected by most forecasters. Both banks are facing underperforming economies.
The first estimate for second-quarter US GDP on Thursday is expected to show an uptick in growth to an annualized 1.8 percent from the first quarter’s 1.4 percent. Consumption expenditures are seen at 2.0 percent versus 1.5 percent. Friday will see the PCE price indexes as part of the personal income and outlays report; marginal slowing to 2.5 percent is seen for both the overall and ex-food ex-energy core rates. And despite two week’s of intense political drama, no change is expected for the month-end consumer sentiment report on Friday.
Wednesday will see the round of July PMI flashes with modest improvement expected for Germany, the Eurozone, and the UK. The PMIs for the US are expected to be little changed to slightly lower.
Econoday
Good R/R in Singapore Dollar vs US Dollar (UsdSgd) from the 3440’s if it gets there again.
The good portfolio managers are taking risk off the table and hedging a bit in recent weeks. The bad ones are blaming it on Trump and losing money. Not sold on the doom and gloom permeating some media and money manager sources in the US should he take office, rather Europe looks more disjointed and unstable to me at present both ideologically and fundamentally, bearing in mind the US currently has no president or vice president.
The bottom line on rates is the FED will cut in September and that is being gradually priced in.
Sterling looks the best to me at the moment from the buy side perspective as it nears 2900. Not so much on Euro or Aud which would entail greater risk on the buy side this morning. That said, I still prefer the buy side overall in Aussie in a larger view and do not believe price has gone low enough to change that. Euro is a sell from higher than current market and not at a price offering good R/R here at 0870. Prefer buy side of UsdCad today.
AUDJPY DAILY CHART – RED CANDLES!
Chart shows 7 red candles out of the opast 8 days with key supports shown on the charts.
aUD weakness ius also evident on an AUDUSD daily chart where there are 6 red candles in a row. As I noited, keep an eye on these patterns if looking for a sign of a pause or bottom.
USDJPY 4 HOIUR CHART
JPY has been the outperformer today as it is the only currency currently up vs the dollar although USDJPY is off its lows.
If looking for the leading cross, look at an AUDJPY chart.
As this chart shows, I highlighted the key levels, and for now it looks like 155-158 may be a range, at least for now.
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