[Mtl JP]

coyote 1 turkey 0
–
turkey living up to (or is it down) its turkey as an insult.
equally bad male or female turkey

[SF Monedge]

JP – I watched a coyote kill a wild turkey on the property early this morning.  That turkey should have maintained risk aversion regardless of payment.

[Mtl JP]

as long as “common sence” is profit-taking side withought having to pay

[SF Monedge]

Balancing more on the risk averse side might make common sense today.

[Mtl JP]

GBP 1.2770

priceaction is butting against the down-sloping t-line drawn off july 17high on the daily

one could speculate that IF gbp closes above yesty’ 1.2750 closing it ll suggest further uP

[Mtl JP]

GBP 1.2770

holding s/t Res
I was undecided despite the current slightly predominanct uP bias
so just a msing atm, sorry for not offering better biased view

[Mtl JP]

usdcad at 1.3726 right now is teasing Support, break down opens 1.3675

taking a possy this or that way is the hallmark of FX trading’s democratic expression

[Mtl JP]

DLR backing down ever so slightly atm

see if the very s/t range price limits hold

[GVI Forex 2]

It looks like a quiet Friday finish to a choppy week dominated by position squaring/adjustments.

Note Japan is closed on Monday.

[GVI Forex 2]

EWURGBP bounce off .8550 has given EUEUSD a modest bid while GBPUSD has backed off its earlier high (GBPJPY softer as well).

So it looks like a quiet Friday finish to a choppy week dominated by position squaring/adjustments. Note Japan is closed on Monday.

The focus will be more on stocks than fx so it seems.

[Mtl JP]

Euro 109.20

Technically “sleeping dog” (neutral)
Res 109.50
Sup 109.0-ish

[GVI Forex 2]

Canadian jobs report misses on downside BUT big jump in full time offset big fall in part time

Full details in our Economic Calendar

[Mtl JP]

US 10-YR 3.946% slightly off yesty high

Players appear to having eased off their enthusiasm for cut altho still fearful / anxious / tense (check VIX) about the topic.

Stocks look like someone with full bladder waiting for the next stall to liberate.

DLRx at 103 looks lethargique

Econ Calendar is bare, unless stocks wakeup and …
Players theme that FED is behind the curve is well alive still and yesty collins with her may be appropriate was like pushing on a wet noodle.

Goe-political risk still on the burner , redefining the word “imminent”

DLR is likely just linger today with little change on the week
Res 103.50
S 102.90

[GVI Forex 2]

USDJPY 4 HOUR CHART – 145-148?

No change at all in the levels of this chart where the rabge is 144-148 and as I said, probably narrowed at 145-148.

Note stocks so far not following through nd commodity currencies backing off earlier highs so watch for risk on/off correlation.

[GVI Forex 2]

FWIW EURGBP held A TEST OF .8550 (POWER OF 50 LEVEL)

[GVI Forex 2]

BTC 4 HOUR CHART- watch the mvas

As a currency trader who is used to trading a market with liquidity, I am not sure what to say about something that can move down 30% and then up 20$ off its low.

If you take 50K-70K as the current range, then 60K is a neutral midpoint.

Looking at this chart, THE 100 AND 200 PERIOD MVAS ARE CONVERGING AROUND 63K SO A POTENTIAL OBSTACLE ON THE USPIDE.

[GVI Forex 2]

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

The first reality check on July’s jarring U.S. employment report suggests rising recession fears were overstated, allowing stocks to claw back nearly all the week’s withering losses and volatility gauges to subside to more normal levels.

Morning Bid: Ebbing jobs fear sees calmer market waters

[GVI Forex 2]

If I told you that there was a large order in the market to sell EUR and buy GBP would you be looking to buy EURUSD or sell GBPUSD, do the opposite or step aside as the order gets executed?

This article is worth revisiting

How You Can Use Currency Crosses to Trade Spot Forex

[GVI Forex 2]

EURGBP DAILY CHART – Retracing after a failed break

This cross was a driver in yesterday’s turnaround day and again early today, boosting GBPUSD while EURUSD lags.

For those trading EURUSD, yesterday’s run through stops at 1.0892 was driven by selling of this cross that saw GBPUSD buying take over after EUREUSD selling did not follow through. (I will post a link to an article on using crosses to trade SpotFX).

Looking at this chart, it has been straight up from a low at .8382 to yesterday’s failed break of .8620 to a high at .8626, leaving no obvious support levels below the market.

So let’s look at retracement levels using our Fibonacci Calculator

[GVI Forex 2]

GBPUSD 4 HOUR CHART – Retracement

Once again, thanks to JP for alerting us to the 100 and 200 daily moving average zone yesterday, where GBPUSD found support, helped by the reversal in EURGBP.

The move up is so far just a retracement that would first need to break the trendline and then move through 1.2800-20 to suggest a reversal.

On the downside, look for support if it holds above 1.2735.

Otherwise, look for 1.2750 to set the intra-day tone of trading within 1.27-1.28

[Mtl JP]

Imminent vs Not imminent
–
“Iran may pursue agents who killed Haniyeh instead of widely attacking Israel – report”
— timesofisrael

[Mtl JP]

vigilance for megaquake
could be metaphorically too to traders

japan meteorologist issued what they called a “mega earthquake caution,” assessing that the possibility of a large quake was relatively hically too her than usual but not that one would definitely occur in the near future. It urged the country’s residents to practice increased vigilance for the next week

[Mtl JP]

GBP 1.2744

oh baby , what a good puppy u r
come home to daddy !

[Belgrade Bobby]

XAUUSD – GOLD

If the Shiny thingy surmounts that Line just above the head ( apx 2430.00 ) , we’ll be on the road to 2500.00 for starters.

Another test of the support at 2390.00 is still possible, but I wouldn’t discard the possibility for Gold to just continue Up without further delay.

Ultimate target is at 2615.00

[SF Monedge]

Should see Sterling revalue toward 2720 or so before continuing further in most scenarios.

[SF Monedge]

Exploring the buy side of UsdMxn (Peso) and UsdThb (Thai Bhat) a bit lower than Peso

[SF Monedge]

Market is going to take a little off the top here in stocks and Aud and EU, not much

[michael Calif]

futures traders are Long Crude Oil per Aug 4    :gtwo3

[SF Monedge]

JP (your NG stocks)

Oil is a buy but metrics point to trouble over $76 and/or approaching $77 for now barring some shock.  Natural gas on the other hand is in full buy mode as inventories rose less than expected but the pricing was already primarily in place on the bid so there could be a brief pause approaching $2.2 and back toward $2.1 or lower somewhat in stride with oil and up from there.

[GVI Forex 2]

Look at EURGBP for a clue to GBPUSD and EURUSD

.8568 last

Again kudos to JP for the mva alert

Risk on in stocks

[Author]

Posts