[SF Monedge]

Other value magnets for EurJpy are at 159.60 and 160.50 (note the lower area is 1/10th lower, indicating slightly stronger sell pressure overall.

[SF Monedge]

EurJpy 159, 160.20 and 161.10 are significant value magnets.  With the activity behavior as it is today, ordinarily there will be consolidation beforegunning for either of the extremities.  To this point it looks like 159 first.  To this point.

[SF Monedge]

I use a very cycle driven algorithm model.  In that model for UsdJpy the key areas are 143.10 and 144.10 (ironically) at present.  143.60 is the price magnet (at present) and is right in the middle.

I sold 143.80, I bought 143.55 and then sold 143.69.   Already out of the sell but if I see 143.40 break I will likely jump on it for 143.

[GVI Forex 2]

US500 broke 5729 (see chart) briefly so far but enough to confirm what charts were already showing

[michael Calif]

for example, SP 500 futures have just run out of Time on this particular vibration,    :gtwo3

[michael Calif]

Yes

[GVI Forex 2]

US500 30 MINUTE CHART

Bounce from post-Consumer Confidence dip would need to break 5729 (red arrow) to fully negate any lingering downside risk.

[GVI Forex 2]

CME FED WATCH – ODDS OF 50BPS NOIV RATE CUT NOW 56% (56/44) AFTER WEAK CONFIDENCE DATA

 

[GVI Forex 2]

Thanks Michael… Are you saying it is based on time more than price?

[michael Calif]

Time vibration still the same, Jay    :gtwo3

[michael Calif]

no change in Time, Jay    :gtwo3

[SF Monedge]

DX 100.50 is a long standing value magnet in my model in recent times and the post data price activity bounced right off of it.  Forwards and other components are decidedly negative UsdJpy and so if that area is compromised and holds it is curtains for that pair.  If not it will likely see 100.90 in coming days.

[GVI Forex 2]

Michael, let us know if your cycle changes on the USD

[GVI Forex 2]

CB Consumer Confidence big miss on downside… stocks slip… yields dip, usd dips… good alert by SF pre-data

[SF Monedge]

Just a heads up the Advance/Decline ratio in stocks opened up schizophrenic indicating to me a lot of positions bailing pre-data and thus a bit of drop off in conviction to start anyway.

[SF Monedge]

GVI 12:43 – See that, thank you Jay

[GVI Forex 2]

EURJPY 1 HOUR CHART

SF, I show 161.18 as the key resistance.

[GVI Forex 2]

AUDUSD MONTHLY CHART – EXTENDING HIGH

AUDUSD extending its high to .6869, up 8% in the past 2 months.

Next target is clear at .6899 (use .6800) if .6869 is broken.

In any case, hard to chase up here but expect support below the market as long a it stays above .6800

[SF Monedge]

EurJpy 161.40 has been an ongoing value magnet in my view and one where I have keyed positions on when price activity returns there after being active at other levels.  Price failed to breach it 3 times now since Friday after pulling up from lows.  As a standalone, the pattern of participation is forming what usually amounts to a breakout uphill from there toward 163.  But that is only a pattern,  albeit an ongoing and repetitive pattern across currencies.  If not it looks like it might head for 158.

[GVI Forex 2]

I called risk on today “cautious” and stocks have backed off earlier highs… earlier JPY selling has fizzled, EURUSD backed off after not testing 1.1150… only US data today is CB Consumer Confidence

[Belgrade Bobby]

GBPUSD 4h

Supports : 1.33650 , 1.33400 & 1.33100

Resistances : 1.33850 , 1.34015 & 1.34750

Cable Bullish and still more to come.

[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Mike Dolan

Wall Street looks set to grind out another record on Tuesday as world markets were enlivened by long-awaited monetary easing in China – rate cuts aimed at underpinning a wobbling economy that’s sowing weakness across the world, not least in Europe.

Chinese stock indexes surged more than 4% on Tuesday and the offshore yuan hit its strongest level against the dollar in 16 months after a series of moves by the People’s Bank of China to loosen lending conditions.

Morning Bid: New highs beckon as China eases, Europe sneezes

[GVI Forex 2]

CME Fed Watch for Nov FOMC

About 50/50 risk of 25 or 50bps Fed rate cut

[GVI Forex 2]

Geopolitics vs Interest rates

1) Israel-Hezbollah fighting so far not a factor but a geopolitical risk

2) Falling interest ratea + China stimulus supporting cautious risk on today

[GVI Forex 2]

GBPISD MONTHLY CHART – New high

GBPUSD extended its high to 1.3383, highest level since early 2022.

With the next key level not until above 1.37, use the most recent high as the closest key resistance.

To dent the upward momentum, Monday’s low at 1.3248 would need to be broken.

Note, keep an eye on EURGBP (downtrend), and the tug-of-war between a lagging EURUSD and a firmer GBPUSD

[GVI Forex 2]

EURUSD 4 HOUR CHART

Is the glass half full or half empty?

1) Failed to test its 1.1201 key high

2) This followed a failure to test 1.10

3) If range is 1.10-1.12 until broken, then 1.11 remains its bias setting level

4) On the other side, while with 1.11-1.12, 1.1150 is clearly pivotal as well for day trading

5) Using 1.1002-1.1189, using our Fibonacci Calculator, Monday’s low (1.1083) paused above the 61.8% level

[GVI Forex 2]

USDJPY 4 HOUR CHART – WATCH THE MOVING AVERAGE BAND

Trading within the moving average band bounded by the 200 4 hour (yellow) on top and 4 hour 100 4 hour (blue) on the bottom, both still sloping down.

On the other side, technicals are tilting positive (rising red AT lines) but only a solid move above 144.50 ( high today 144,68) would suggest more scope to this retracement.

[GVI Forex 2]

A look at the day ahead in European and global markets from Ankur Banerjee

Investors have long clamoured for China to unleash broad-based stimulus measures to help turn sentiment around, and while Tuesday’s measures are well short of a ‘big bazooka’ move, it may still be a step in the right direction.

Morning Bid: No bazooka, but China’s latest stimulus is a relief

[GVI Forex 2]

RBA remains the outlier, keeping rates unchanged, remaining more hawkish than dovish

AUDUSD backed off from a 6869 post-RBA high but keeps a bid as long as .6800 holds as support.

[Mtl JP]

qtn is what comes next
–
isn’t that amazing … how much of a dilemna is to answer a simple bi-polar qtn !

BUT

only technical spot traders know how to answer that with better than 80% odds of being correct.

[Author]

Posts