[GVI Forex 2]

XAUUSD 4 HOUR CHART – POWER OF 50

LEVELS ARE CLEAR AT 2348-51 and 2393-00

Break of 2348 and trendline would be needed to end the current uptrend.

Break of 2379 would be needed to end the current retracement

Make the market.

 

 

 

[Mtl JP]

(AP) – “Powell’s prepared testimony Tuesday did not provide what Wall Street investors are watching for most closely: Any clear indication of the timing for when the Fed might make its first rate cut. But the testimony will likely harden investors’ and economists’ expectations that the first reduction will come at the central bank’s September meeting.” – fwiw

I am on record that a sept cut would be , imo, a political cut.
so naturally I am sceptical of sept cut even though players may be gaming it

[SF Monedge]

Some internal metrics getting bid Euro here 0815, question is will it stick, a trade for the bold.

[GVI Forex 2]

Q&A just started but it doesn’t look like any surprises will come from Powell.

[GVI Forex 2]

EURUSD 15 MINUTE CHART – Look at this candle

Look at this chart and the 15 minute candle. It will take awhile to settle into tradable patterns.

The double top is at 1.08285

[Mtl JP]

in other words … a long time
for him to … “unduly weaken economic activity and employment,”

[GVI Forex 2]

Powell’s term ends April 2026.

[GVI Forex 2]

Powell basically sticking to his status quo message.

10-year 4.302%

Watch the Q&A

[Mtl JP]

YES YES YES !!!
to new trading opportunities :
–
Jeff Cox:
Trump’s increasing election odds after debate already affecting financial markets
JUL 8 20241:32 PM EDTUPDATED 2 HOURS AGO – Jeff Cox on cnbc

[SF Monedge]

Canadian Dollar looks like it is gaining interest in futures/options/forwards/open interest/some TSX stocks so it looks like UsdCad (3638) is more tilted to the offer for the moment.  Everything hinges on Powell.

[SF Monedge]

Prior post is regarding Australian Dollar

[GVI Forex 2]

Markets moive when there is a surprise —

If I was Powell I would do nothing to change market expectations but would avoid fueling them further.

So surprise would be anything that veers from status quo.

[SF Monedge]

Some metrics including options, forwards, open interest etc are showing a solid bid at current levels.  That matches the larger bid cycle but it is against the grain of the recent closer in selling.  Market is looking bid further out, so the pair either likely fails and dumps today post-Powell or goes on another run up the hill.

[GVI Forex 2]

It looks like 10 year 4.30% is sort of a pivoit

Last 4.291% +0.023

[GVI Forex 2]

One school of thought is that Powell will try to walk a tightrope and maintain the status quo in his testimony.
‘
If so, then how markets spin his testimony will dictate the reaction. Typically it would try to spin it dovish.

[GVI Forex 2]

US 10 Year (CFD) – Price is inverted with yield

US yields ticking higher prices lower (4.301% +0.033) ahead of Powell when logic says they should be ticking lower on expectations of a dovish tilt

USD following but still a wait-and-see lull ahead of Powell.

[Anonymous]

Suggest watching the bond market ahead of and as/after Powell testifies

Currently yields ticking higher 4.295% up 0.027

[Anonymous]

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

After an intense month focused on election risk around the world, markets quickly switched back to the more prosaic matter of the cost of money – and whether disinflation is resuming to the extent it allows borrowing costs to finally fall.

Thursday’s U.S. consumer price update for June is the key moment of the week for many investors – with the headline rate expected to have fallen two tenths of a percentage point to 3.1% but with ‘core’ rates still stuck at 3.4%.

Morning Bid: Eyes switch to inflation vs elections, Powell up

[GVI Forex 2]

GBPUSD UPDATE – BID WHILE ABOVE 1.28

Levels to watch: 1.2785-1.2797/00 -1.2846 -1.2860

[Belgrade Bobby]

USDJPY 4H

USD/JPY: Dollar Reclaims ¥161, Jay Powell Speech to Test Greenback’s Strength

Dollar jumps above ¥161.

Fed’s Jay Powell to testify.

Volatility expected today.

Supports at : 160.950 , 160.850 , 160.500

Resistances at : 161.150 , 161.350, 16.950

[Anonymous]

EURUSD 4 HOUR – WAITING FOR POWELL

Given expectations of a dovish tilt for Fed Chair Powell’s testimony today, the dollar upside should be limited ahead of it.

This suggests markets should be positioned for a more dovish testimony so it will be the reaction to his comments that will be more important than what he says barring some clear signal of a rate cut (markets are pricing in an 80% chance of a Sept cut).

Otherwise, expect support as long as 1.08+ trades but needing to take out 1.0845-50 to suggest a run at key targets in the 1.09-1.10 area.

[GVI Forex 2]

AUDUSD 4 HOUR CHART – AIMING FOR .68?

Key target is close to .69 with .6800 the next obstacle. To make a run at .68, .6750 would need to become support.

Minor range .6710-.6761

Split the range and .6735 is the midpoint… needs to hold to keep a bid.

           CLICK BELOW TO LEARN ABOUT THE

GLOBAL-VIEW TRADING CLUB

[GVI Forex 2]

1.              CLICK BELOW

[Belgrade Bobby]

XAUUSD – Gold
Has to hold above 2355,00 for further advances.
Resistance at 2395,00

[Belgrade Bobby]

TSLA – Tesla
Tesla on Track for Longest Winning Streak Since June 2023
Tesla, Inc. (TSLA) is currently at $252.54, up $1.02 or 0.41%Would be highest close since Dec. 28, 2023, when it closed at $253.18

Currently up 10 of the past 11 days

Currently up nine consecutive days; up 38.32% over this period

Longest winning streak since June 13, 2023, when it rose for 13 straight trading days

Best nine day stretch since the nine days ending Feb. 2, 2023, when it rose 41.11%

Up 27.62% month-to-date

Up 1.63% year-to-date

[Belgrade Bobby]

SMCI – Super Micro Computer Inc.
Is Most-Watched Stock Super Micro Computer, Inc. (SMCI) Worth Betting on Now?
Super Micro Computer  SMCI is one of the stocks most watched lately.
Over the past month, shares of this server technology company have returned +10.1%

[Belgrade Bobby]

AMD – Advanced Micro Devices Inc
AMD and shares have lagged this year. Why a rebound could be in store.
AMD has found a nice Support just above 155.00 and now is heading towards middle of the Rising Channel – 195.00

[Belgrade Bobby]

BTCUSD – Bitcoin
Bitcoin falls further amid sell pressure from German government exchange transfers and Mt. Gox payouts
Bitcoin’s price has fallen further over the past 24 hours as Mt Gox payouts and the German government’s transfers of BTC to crypto exchanges have rattled markets.

[Belgrade Bobby]

Nvidia – NVDA

Nvidia Could Earn $5 Per Share in 2025, Analyst Says: Supply Checks ‘Materially Larger Than Just Two Months Ago’

Shares of leading semiconductor stock NVIDIA Corp  NVDA are trading higher after receiving an updated price target from a leading analyst

[GVI Forex 2]

SEEING IS BELIEVING – THE POWER OF “50”

CLICK BELOW

[Author]

Posts