[michael Calif]

June 1 repost:   significant move DOWN BTC futures likely began yesterday May 31

cover shorts now

[GVI Forex 2]

This is a really good blog article worth reading

One of the biggest reasons traders fail prop firm evaluations is not understanding how relative drawdowns and high-water marks work. They don’t realize they could be a profitable trader and still breach the relative drawdown rule. Losing trades cause drawdowns and as such can’t be actively managed…. Read the full article by clicking below

Prop Trading and the Dreaded “Relative Drawdown”

[GVI Forex 2]

UK Election: Labour landslide as expected

Little GBP reaction so far but technicals are positive

Political stability relative to what is going on rlsewhere vs increased expectations of an August rate cut

[Belgrade Bobby]

XAUUSD – Gold – Daily

Major Resistance just above the head – 2365.00

Support at : 2335.00 , 2315.00 & 2295.00

Close tonight just above 2360.00 would indicate possible break of the resistance.

[Belgrade Bobby]

BTCUSD Daily

Broke bellow Major support at 58.400.00 and now we have three levels left that might propel it back up ( might– not will ! )

55.000 , 49.500 & 43.500

After the last one, all that it has are 35K & 25K

[Belgrade Bobby]

EURUSD 4 H

Supports at : 1.08000 , 1.07600 & 1.07400

Resistances at : 1.08150 , 1.08250 & 1.08350

Be aware that if above 1.08250, we gonna have a game changer.

Also, do not forget the Data tomorrow !

[SF Monedge]

Closed my long EU and Aussie’s this morning from last week (caught EU 1 pip from the bottom and everyone thought I was nuts going long.  See a bit of a stalemate here now on this Independence Day.

[SF Monedge]

If EU is going to run out of steam on an intraday basis it will likely do so here in the 0812-0820 area.  If not it will target past 0850 again in likelyhood.  Looking for a shift in USD bias overall today/tomorrow likely and markets wide in general around the 15th of the month

[SF Monedge]

Point of control in UsdJpy is 161.40 area.  It should be seen again in time, and it is likely that it goes higher in time, but it will get back to that area if so eventually in most scenarios at a minimum.

[michael Calif]

BTC futures could/should set a trading low late tomorrow no lower than 56330    :gtwo3

[SF Monedge]

GV – July 4, 2024 at 11:41 am … Hey that isn’t fair, they told us blockchain technology was impervious to fraud by nature of design!  My TikTok video lied to me.  As far as currently legitimate instruments are concerned, I agree stay on the long side of Euro and especially Aussie.  Aussie 6720 area if you missed getting in long last week has justifiable R/R strength for entry and EU 0790 area.

[michael Calif]

Yen futures have set a trading high in USDJPY at these levels    :gtwo3

[GVI Forex 2]

You can’t make this up

…Fears of looming selling pressure on bitcoin (BTC) from defunct exchange Mt. Gox and possible miner sales pushed the largest cryptocurrency to under $59,000 on Thursday for the first time since late April.

Mt. Gox will start distributing assets stolen from clients in a 2014 hack in July 2024, after years of postponed deadlines. The repayments will be made in bitcoin and bitcoin cash (BCH), and could add selling pressure to both markets, as previously reported….Coindesk

[GVI Forex 2]

BTC testing 58000… scroll down to see Bobby’s post.

[GVI Forex 2]

See detailed previews from Newsquawk for the UK election and the US Jobs report

Week Ahead from Newsquawk

[GVI Forex 2]

USDJPY DAILY CHART – A CASE FOR A TOP?

With USDJPY unable to test 162, a case for a pause can be made, even a top but only if 160.25 and then 160 are taken out.

As you can see by this chart, there is a long way to go to break the uptrend but at a minimum, there is a two-way risk as long as it stays below 162 with a bearish tilt if below 161.50.

[GVI Forex 2]

GBPUSD DAILY CHART – ELECTION DAY

No change to what I posted last night (today;s low has been 1.2740)

With a landslide Labour win on Thursday widely expected, the reaction will tell us how much is discounted.

Charts, meanwhile are very clear… if 1.2739 becomes support there is a clear path for 1.2860 with the psychologicl 1.28 level standing in the way.

[GVI Forex 2]

A look at the day ahead in European and global markets from Wayne Cole.

It’s been a generally upbeat day so far in Asia as softer U.S. data burnished the case for a September rate cut from the Federal Reserve.

The main event in Europe will be the UK election, where the only real unknown is how super Labour’s majority will be. The bookies are odds on for Labour and even Tory ministers have conceded they are heading for a record thumping.

Morning Bid: Bets mount for US rate cut, UK political shake up

[GVI Forex 2]

EURUSD DAILY CHART – 1.08 PIVOTAL

Momentum building to the upside but yet to establish above 1.08.

1.0817 held yesterday but remains at risk. A firm break puts the key 1.0852 on the radar. A break of this level would open the door for 1.09-1.10.

With that said, 1.08+ first needs to be established.

In any case, expect support on dips ahead of tomorrow’s US jobs report as long as it stays above 1.0752.

Reminder French second round vote is on Sunday.

[GVI Forex 2]

USDX DAILY CHART – MAJOR LEVEL CIYED

The failure to test the key high above 106 has the dollar moving to the defensive wit lower levels at risk.

If you are looking for a game changer level that would confirm the end to the USDX uptrend, it is highlighted on this chart at 103.93.

 

[Mtl JP]

NO CUT in july
It must true now that jeff cox concurs w/ nick:

“Fed says it’s not ready to cut rates until ‘greater confidence’ inflation is moving to 2% goal” – cnbc

The FED is notorious for not wanting to throw markets for a loop
So a near 99+ % certainty no cut

[michael Calif]

BTC futures establishing a soft low for move higher soon    :gtwo3

[michael Calif]

Euro futures still betting Long EURUSD and higher prices    :gtwo3

[Mtl JP]

10-yr 4.354
–
Fed Officials Signaled No Hurry to Cut Rates
Minutes of their last meeting suggested some are on alert for signs of labor market deterioration
By Nick Timiraos, Updated July 3, 2024 2:14

[Belgrade Bobby]

XAUUSD – GOLD Daily

It came today exactly to Resistance at 2365.00

Support at 2340.00 & 2295.00

Look as ready to break higher – need another day and/or break of that resistance to confirm.

[Belgrade Bobby]

BTCUSD – Bitcoin

If below 58.500, it will target 55K .

[Belgrade Bobby]

EURUSD 4H

Supports at : 1.07750 , 1.07600 & 1.07350

Resistances at : 1.08000 , 1.08250 & 1.08500

1.08250 is the Key for EUR advancement .

Tomorrow is 4th of July , and unless Europe gets all wild, not much is to be expected till Monday.

[Belgrade Bobby]

NVIDIA (NVDA) Up 147% YTD: Is It Too Late to Buy the Stock Now?
Why Could NVDA Stock Further Appreciate?

NVIDIA’s remarkable stock performance has been primarily driven by the anticipation that the company will reap substantial benefits from the growing investments in generative AI. Given NVIDIA’s leading position in this space and the vast opportunities generative AI presents, the stock seems poised to maintain its upward trajectory throughout the year.

[Belgrade Bobby]

S&P 500, Nasdaq – NDX post record closing highs as data stokes hope for rate cut
Jobs data points to easing labor market

ISM services PMI weaker than expected

Paramount jumps on report of Skydance Media deal

First Foundation slumps after capital raise

Indexes: Dow -0.06%, S&P 0.5%, Nasdaq 0.88%

[Belgrade Bobby]

 TSLA: Tesla Stock Powers Higher After EV Maker’s Deliveries Top Estimates at 443,956
Tesla shares jump about 10%.

Deliveries surpass estimates.

Shares are up 60% since April.

 

[Author]

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