[SF Monedge]

Not enthused by it but am very lightly entertaining the buy side of EurChf near 9800 to see if the selling is overdone.

[GVI Forex 2]

XAUUSD dips back below 2347. My key support remains at 2336.

[GVI Forex 2]

NAS100 4 HOUR CHART – RISK OFF

Stocks are down today and NAS100 is no exception.

As I noted, CFD, price feeds can vary between brokers even with the same symbols and with different symbols as well (NAS00 vs NDX100)

Look at your chart and line up the key line I highlighted on the downside as key support.

[GVI Forex 2]

Stocks dip, risk-off , fx following

[SF Monedge]

Buy side of Aud on dips is solid to me today as well as gold.

[Mtl JP]

“We forecast a 0.29% rise in headline CPI, reflecting higher energy (+0.7%) and food (+0.2%) prices. Our forecasts would lower the year-on-year rates to 3.70% for the core and 3.37% for the headline,” Goldman Sachs note

[Mtl JP]

One has to be thinking that there are players gunning for EURUSD 1.07

gaming upcoming CPI and ECB

[Belgrade Bobby]

EURUSD

So we have met with that downtrend line….

4h and Daily

 

[GVI Forex 2]

EURUSD 4 HOUR CHART – 1.0876

This chart shows why 1.0876 is the key level

[GVI Forex 2]

EURUSD (1.0880)

1.0876 WAS THE BREAKOUT LEVEL SO THE ONE THAT NEEDS TO HOLD TO KEEP A STRONG BID.

[GVI Forex 2]

THIS IS THE QUESTION BEING ASKED AS XAUUSD (GOLD) CONTINUES ITS RELENTLESS CLIMB TO NEW HIGHS. SEE WHAT MIGHT COME NEXT IN THIS EXCLUSIVE BLOG ARTICLE

Just today Gold has hit it’s new record high of All Times – 2365.34 $ per Ounce.

In the past year, it has surged roughly 16%, and just in the past month 5.6%

Is the Gold rally going to stop, and when ?

[GVI Forex 2]

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

As Wall Street nervously awaits the March consumer price inflation report, the commodity complex – buoyed by an improving global growth outlook – adds another complication to the interest rate picture.

Morning Bid: Commodity prices irk inflation view

[Mtl JP]

opinion as a forecast …
–
“We forecast a 0.29% rise in headline CPI, reflecting higher energy (+0.7%) and food (+0.2%) prices. Our forecasts would lower the year-on-year rates to 3.70% for the core and 3.37% for the headline,” Goldman Sachs

[GVI Forex 2]

USDCAD 4 HOUR CHART – BACK IN 1.35-1.36

As I have noted several times, moves outside 1.35-1.36 have lacked follow-through.
‘
This has been the case once again as USDCAD has followed the generally weaker USD after the reaction to a stringer US jobs report did not follow through.

As the chart shows, the key focus is on 1.3550, which is not only the midpoint of 1.35-1.36 but also a powerful sentiment indicator,’

[Mtl JP]

US 10-YR 4.39% -0.034 | 5:37:16 AM EDT
–

dimon’s letter not exactly kind to janet

[Mtl JP]

gaming time considerations
–
msm is priming canadian dollar players for june cut
rtrs: Fed rate cut expectations for 2024 fall to lowest since October

[Belgrade Bobby]

EURUSD 4h

Support at 1.08550 & 1.08450

Resistance at 1.08650

Needs to take over 1.08650 to continue Up .

However, if supports give up, we are in for a Correction phase ( at least ).

Next 2.5h is crucial, as if it stays above 1.08600 till next bar, it will break Up.

[GVI Forex 2]

XAUUSD 1 HOUR CHART = UNCHARTERED WATERS

While the forex market treads water ahead of Wednesday’s US CPI report, XAUUSD has scored another record high, moving just above Friday’s high (2354) and again disappointing those trying to pick a top

As I noted yesterday, XAUUSD needed to hold above 2330 to keep the high at risk and the result has been a fresh run at the upside.

As I also noted, I had no interest in suggesting the high was in despite what looked like an exhaustion high on Friday. .

With that said, the new high is the only key resistance on a chart and 2350 becomes pivotal in setting the day tone. Only a move below 2336 would suggest the potential for a pause.

[GVI Forex 2]

WITH USDJPY HOVERING JUST BELOW 151.97 IT IS WORTH READING THIS BLOG ARTICLE AS IT IS STILL VALID

Trader Alert: Would I Intervene in USDJPY If I Was in I was in the BoJ’s Shoes?

[Mtl JP]

ye ss SSS ! lets see it:
–
“U.S. ready to sanction Chinese banks if they aid Russia’s war machine” Yellen says
— cnbc

[Belgrade Bobby]

EURCHF

The pair is in clear Uptrend, and Swissy never looked so vulnerable.

CHF is hit even from the USD , and that is not it’s usual state of affairs.

Resistances come at : 0.98950 , 0.99150 and ultimately The Parity – 1.00000

Continue reading….

[GVI Forex 2]

Sometimes there are days 1 + 1 = 3

These are the days not to be stubborn and/or be patient if you are not going with the flow.

[Mtl JP]

EURO 1.0853
–
technically, holding 1.08 – 1.0850 range
degree of conviction is about to manifest self (low – med – high)

ECB cutting rate this week would NOT be a surprise. Lagarde & Co appear to have learned vascillation tactic from FED gang
good luck

[GVI Forex 2]

BOBBY POSTED THIS EURUSD TECHNICAL OUTLOOK IN OUR BLOG AND IT SPEAKS FOR ITSELF. WORTH A READ

EURUSD Week Ahead – 07/04/24 Technical Outlook

[SF Monedge]

My colleagues believe 10yr futures will move sideways/higher until May 31 (steady to lower rates).

[SF Monedge]

I think UsdChf likely pauses here around 9060 without some surprise.

[Mtl JP]

fwiw kashkari is on yak deck later this evening

[Mtl JP]

DLRx 103.95
–
with nothing of substance on the econ calendar todahy players have room to argue things out (i.e. consolidate)

the “better qualified” individuals are suggesting ambivalent things about alleged rate cuts with a bottom line attempt at maybe not quiet three cuts as “feasable” this year.

with 10-yr yield nearing 4.5% dlrx is rather subdued in its response.

In his friday yak jerome alluded to details about labor he & gang are watching such as turfing notices and surveys around jobs intentions – two rays of good hope from the FED’s point of view. The CPI numbers that are expected this week appear to be another ray of hope for the FED as “being on the right track” that earlier numbers were but a “bump”

Degenerate traders on the other hand would likely savage rates and ccies on upside surprise releases.

[GVI Forex 2]

Notice how USD downside was more sensitive to when yields backed off (last 4.43% vs high at 4.465%), which gave a clue that it was trading bid in an offered market.

[SF Monedge]

Since the relationship with currencies to US stocks matters, just a note stocks are firmly in a pull back cycle and I don’t see any way that Dow trades above 392 today unless something dramatic happens.  Yields up.  Dow futures holding 39170 so it appears the shorter term cycle is the market wanting to hold stocks against the more significant sell cycle in the index.   DXY is holding the offer overall so it would take something of weight to move it over 104.60 today in my opinion.

[Author]

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