[GVI Forex 2]

It is time toi revisit this article I posted as we are in a liquidating market today

I was asked the following question, I have seen you use the term “liquidating market” and my question is how do you define it and how do you trade it?

What is a Liquidating Market and How to Trade It?

[GVI Forex 2]

USDJPY high 145.49 === see if Power of 50 (145.50) caps

[SF Monedge]

The last jobs data out of this administration reminded me that their numbers have been bogus for quite some time.  I pay zero respect and zero heed other than to capitalize on the volatility they create.

[GVI Forex 2]

USD taking on a bid post-data with bond yieldS up (10 year 3.867%) even though data was a non-event.

GBPUSD extending its low, key support is the former 1.3144 2024 high/breakout level.

USDJPY trading 145+

EURUSD so far holding above 1.1071, getting some support from a bounce in EURGBP

[Belgrade Bobby]

GBPUSD 4H

Resistances : 1.31900, 1.32050  &  1.32300

Supports : 1.31200, 1.31000 & 1.30100

Correction unfolding into full scale one .

1.31000 is a very important Support that might decide is this going to be a few days downtrend, or even few weeks.

As long as above it, previous ( and a new one ) high is within the reach.

Below it can open a can of worms…

[GVI Forex 2]

ON DECK: WEEKLY JOBLESS CLAIMS,q2c GDP REVISION

SEE OUR ECONOMIC CALENDAR

[SF Monedge]

EurJpy received that hard sell interest overnight I was mentioning last night in early Asia that I thought we might see.  Activity has reached equilibrium in my view for Yen pre-US session.   Prefer the buy side on sell interest exhaustion for UsdJpy.  AudUsd is running into options turbulence and so it will have a challenge to run uphill from here which one might think will aid in supporting UsdJpy although they operate differently.

[GVI Forex 2]

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

After all that, Nvidia (NVDA.O), opens new tab beat expectations – which has become “expected” – and the stock retreated about 5%. This is still August, after all.

To be fair, the negative market reception to the artificial intelligence pacesetter’s quarterly results overnight was typical of the reaction to other ostensible “beats” in the sector in this earnings season. These stocks are expensive, have come a long way in a short space of time and the bar to impress is now sky high.

Morning Bid: Nvidia ‘beats’ as expected, but fallout limited

[Mtl JP]

10-yr 3.827%, off 3.816 low
–
it is still month-end whimsiclas

[GVI Forex 2]

AUDUSD 4 HOUR CHART – STAR TODAY

New high after bounce off the .6761 double bottom.

As I have been noting a firm break of .6800 would leave a void of 100 pips to the next target (.6899).

This leaves .6800 as clearly pivotal with a bid as long as above it, stronger if above 6812.

No news other than firmer US stocks after the Nvidia dip in a risk on day so far.

[GVI Forex 2]

EURUSD 4 HOUR CHART – Like an Amazing Trader textbook

Sometimes technicals work like a textbook and this is the case in today’s EURUSD break of 1.1098. As the chart shows, next target was 1.1071 following the 1.1098 break and that level has been tested. Below that is the key trendline.

There didn’t seem to be catalyst for EURUSD falling off a cliff today other than soft German states CPI and selling that ran stops. As I have been noting, EUR has been a weak link in the dollar sell off/

Otherwise, the break of 1.11 leaves this as the pivotal level that will set its tone,

[Mtl JP]

EURO 1.1090 and overnite 1.107-ish low

Did the ECB clowns suddenly conquer inflation too ?

[Mtl JP]

but , admittedly, the FED gang has, sofar, been the encouranging author of the narrative

[Mtl JP]

THIS ….

…”embark on a rate cutting path” …

…. is a PROBLEM

because it impliess market holding the CB by the proverbials

never a good thing for a CB to be beholden

[SF Monedge]

Suggest being careful on the buy side of EurJpy, there are metrics point to the pair getting smacked a bit after 19:00 likely around 161.25

[GVI Forex 2]

The old trading adage that says “the reaction to news is more important than the news itself” is even more relevant in today’s market as central banks embark on a rate cutting path.

Good News vs. Bad News

Global Trading: It is The Reaction to News that Matters

[Belgrade Bobby]

Nvidia’s Q2 Professional Visualization Revenue at $454 Million vs Visible Alpha Analyst Consensus of $446.4 Million; Auto Revenue at $346 Million vs Consensus of $350.1 Million

[SF Monedge]

Just more fun facts while we wait for Nvidia and because AI will play a dramatic role in the future of civilization.

The worlds urban population is growing by 70 million people each year, with 301 cities accounting for 50% of global GDP with the estimate at 66% by the end of 2025.

In 1900, 12 of the worlds largest cities were in the North America or Europe.  By 2000 the number had fallen to 2.  Most of the growth in cities in coming years is projected to be in China, India and Nigeria, and will account for 37% of the worlds population.

[SF Monedge]

EurJpy and UsdJpy are polar opposites today from both a neural and to some extent a median reversion standpoint with the Eu being dominant on the risk aversion side obviously.  My model likes that the latter traded above 145 earlier and I have doing nothing but staying on the long side since the Asian session.  Looking forward to any post-Nvidia drops to see that mark ultimately revisited (expecting quite a jolt most likely downward initially which runs out of steam post-release).

[GVI Forex 2]

Bobby good call about 1.3190

[GVI Forex 2]

Bobby

Now that stops were run 1.3190 is the pivotal level for me.

[GVI Forex 2]

Bobby

Now that stops were run 1.3190 is the pivotal level for me.

[Belgrade Bobby]

GBPUSD hourly Update

Now 1.31900 will serve as a resistance and pivotal point

[GVI Forex 2]

GBPUSD 1.3179 is close by

Bulls need to hold the line to avoid exposing 1.3144

[SF Monedge]

Interesting facts related to super computing while we wait for Nvidia.

In the 1st decade of the turn of the century the net gain of jobs in the US was zero.

To visualize the impact of disruptive technology, In the 19th century 50% of workers were employed on farms.  By the year 2000 the number was 2%.  This is an isolated sector.  AI comprises all sectors.

The amount of data stored on the worlds computers is now believed to be over 1,000 billion gigabytes.  AI is accelerating the ability of robotics to use that data to actually form perpetually stronger learning and reaction by the computers themselves far in advance of the speed of humans.

Oxford University projects that almost half of global jobs are likely to be replaced in roughly 20 years.  That equates to 60 million jobs in the United States.

[GVI Forex 2]

Cold feet by stocks ahead of Nvidia.

EURUSD res at 1.1135, blocks 1.1150

[SF Monedge]

AudUsd is on borrowed time temporarily, see 6650 in coming weeks holding reasonable mean reversion.

[SF Monedge]

There is more to life than Nvidia.  No matter what the initial earnings results it is a buy over time.  Today is National Cherry Turnover Day, National Red Wine Day, La Tomatina Day, National Bow Tie Day, Be Kind To Humankind Week (see Russia and Iran), and Shania Twain’s birthday.

[SF Monedge]

I am not overly enthusiastic about the sell side of UsdJpy today.

[Mtl JP]

EURO 1.1110
carefully bearish bias

altho puppy failed at 1.12 and by ocular evidence sits on 1.11 Sup to possibly try to test it.

As I suggested yesterday, breakdown would open up 1.1050/25 ish zone

Res 1.1170

[Author]

Posts