[GVI Forex 2]

GBPUSD 4-HOUR CHART – REVERSAL OF FORTUNE

GBPUSD, which fell sharply to end last week on shifting interest rate cut expectations has reversed course as the market reassesses that outlook.’

This saw UK 10-year bond yield rise 9BPS to close yesterday at the highest level for the year.

Combine that with JPY weakness and a sharp GBPJPY rise, you can see why there has been a GBPUSD reversal.

GBP is also firmer on other crosses (e.g. EURGBP is lower as well).

Looking at this chart, it needs to hold 1.2497 *=(suggests 1.25 as well) to maintain a strong bid although support is seen as long as it stays above 1.2423.

[wfakhoury Amman]

EURJPY
Now 166.70 .into buy mood
16710 confirmed will be reached.

[GVI Forex 2]

AUDJPY DAILY CHART — 100.80

No change to what I posted this morning where I pointed out the 100.80 breakout level that needs to become support to open the door on the upside.

The move above USDJPY 155 has eased some of the pressure on crosses to absorb the JPOY selling but is still one path of least resistance.

[SF Monedge]

I am thinking should do it for now in EurJpy at 166.20.  Also, correction on earlier post regarding intervention, if I recall the last one that actually did some real damage was a Friday US session.  Regardless, short side preferable.

[GVI Forex 2]

USDJPY 4 HOUR CHART – A LESSON TO BE LEARNED

I learned a long time ago that you can not rely on central banks to protect your position. The trader landscape is littered with blown accounts by those who bet on central banks.

So, the question is whether this is another one of those times with the BoJ being called out on its intervention threat as USDJPY trades through the next presumed line in the sand at 155.

With 155x now taken out, this is the only level on a chart that has any meaning as USDJPY trades to a new 34-year high.

So, 155 will determine whether the market will push higher into uncharte3d waters.

[Ab hk]

Yen is dropping like no tomorrow because of the local high inflation. Look at the Hotel rate, it’s not cheap at all. Yen needs to drop in order to be justified.

[Mtl JP]

politician … here one day … onto garbage heap of history next
–
Macron Is Gauging Support for a Plan to Install Draghi in the Top EU Job
Paris and Rome are discussing alternatives to von der Leyen
Draghi’s name has been raised as possible commission chief
Bloomberg – April 24, 2024

[GVI Forex 2]

Many new traders have not experienced intervention and even those who have traded on this event, it pays to have a refresher to see which type tends to be most effective. I call it an intervention primer.

Will the BoJ Intervene in USDJPY and Does it Matter?

[SF Monedge]

I do not believe the BOJ will make the same mistake they made before (intervening on a Sunday-US evening seeking maximum effect in lower liquidity conditions).  I do believe after they intervene the market will go right back to buying Yen pairs, especially AudJpy and UsdJpy due to rate differentials and Aussie economy, but not until a lot of damage is done.  The rest of this week is not a good time to be long Yen pairs even if purely from a risk management approach.

[Mtl JP]

players may be pushing up the dlr in anticipation of friday’s inflation data

[SF Monedge]

I suspect the drive up in Yen pairs is covered elsewhere.  They are challenging the BOJ knowing the hit is covered.  Too bad for the little guys who are long.

[SF Monedge]

UsdJpy and EurJpy have been inching up slowly overnight because Japanese officials noted yesterday that they would be seriously reviewing Yen in their upcoming meeting.  In my opinion it gave the market a green light to inch forward.  I observed but did not join.  Would common sense dictate perhaps that is not a good idea after today’s US session?

[wfakhoury Amman]

GOLD
Now at 2323 again from 2338

[GVI Forex 2]

If USDJPY 155 becomes support then

156.50
158.00
160.00

If 155 was really a line in the sand then BoJ would let it go and then come in hard with
Intervention.

[SF Monedge]

Options on S/P are in the middle of value on the updraft although prices are showing a decline from highs, so it would take quite a bit of pressure (I do expect some) to change the bid bias.  Dow volume ratios are right in the middle of high and low parameters and so the bid is still in play even with a decline similar to S/P.  Advancing issues vs declining issues are low and have a bit of room underneath.  So the bottom line is the bid holds, I wouldn’t be sold on the selling changing the course yet.

[Mtl JP]

10-yr 4.65% 11:08 AM EDT

as janet is peddling off $70 billion of 5yr paper and blinken is in china – first day of three – trying to fix what she mucked up / did not accomplish there three weeks ago

[wfakhoury Amman]

GOLD

price now at 2323 for the 3rd time

[SF Monedge]

If you were paying attention the past two days UsdChf absolutely sat there on the upside while Dxy was selling.  It was a game of hedge & catch up.

[wfakhoury Amman]

Range of consolidation area to 2323.00 is 2326-2315

[wfakhoury Amman]

April 24, 2024 at 8:33 am
wfakhoury Amman
April 24, 2024 at 8:09 am
Time to sell
____________________________
2323 still active as a consolidation level and will be reached from the 2317 area.
_________________________________________________________________
2323.00 Reached after data

[Ab hk]

I have a Gut feeling that gold will close monthly 2000 to 2100

[GVI Forex 2]

USDX 4 HOUR CHART – REMINDER, EURUD IS 57.6% OF USDX

[GVI Forex 2]

NAS100 4 HOUR CHART

[GVI Forex 2]

US500 4 HOUR CHART

 

[GVI Forex 2]

US30 4 HOUR CHART

[GVI Forex 2]

EURUSD 4 HOUR CHART

TO MAKE A CASE THAT EURUSD IS BID IN AN OFFERED MARKET IT WOULD NEED TO BREAK BELOW 1.0680 AND TRADE BACK TO 1.0650.

A BREAK 1.0638 WOULD BE NEEDED TO END THIS UP EPISODE.

[GVI Forex 2]

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

Ailing Tesla shares (TSLA.O), opens new tab caught a rare 10% break overnight despite the electric auto giant’s quarterly revenue miss, underscoring a better market mood as Meta (META.O), opens new tab steps up to the earnings dock later and U.S. business activity cools in April.

Morning Bid: Tesla catches break, Meta next; TikTok countdown

[Belgrade Bobby]

EURUSD Daily

Yesterday we have seen a strong move Up , driven by the data .

Resistance at 1.06700 was taken out ( now acts as a support ) , and we have closed the day Above the sharp downtrend Resistance line.

There are no important data today , so we’ll see if this move can be sustained .

If it does, we’ll have two consecutive Closed bars above the downtrend resistance line, and that would signal a change of trend.

However, if close will be bellow 1.06500 , it would be a perfect Sell signal and run at 1.05500 would be inevitable.

Supports at  1.06800, 1.06700 , 1.06500 & 1.06250

Resistances at 1.07250 , 1.07700 & 1.08250 Continue reading...

[GVI Forex 2]

NQ outperforms, benefiting from gains in TSLA, USD firmer & AUD bid post-CPI, Bonds at lows

Good morning USA traders, hope your day is off to a great start! Here are the top 4 things you need to know for today’s market.

4 Things You Need to Know
European bourses are mostly firmer; NQ outperforms, propped up by gains in Tech names – TSLA +10.5% pre-market, TXN +7.3%

Dollar is firmer, AUD benefits from the risk tone and on hotter Aussie CPI, USD/JPY printed a high of 154.96

USTs are pressured, giving back some of the PMI-induced gains; Bunds follow suit and eye YTD lows

Crude and XAU are subdued by Dollar strength, base metals remain resilient

Try Newsquawk for 7 Days Free

[wfakhoury Amman]

How to trade at the consolidation level
2323 is a consolidation within the range 2317-2323.
as my signal below 2317 will go to 2303 above it will reach 2323.

[Author]

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