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US500 (SP500) 4 HOUR: 5 days in a row
Some hope for the bulls with a higher low that would need to take out 7765, currently protected by 7727, to break momentum and shift the focus from 7700 (printed 5 days in a row).
Otherwise, consolidating in wide range 7631-7765 where the pattern around 7700 bears watching.
Forex Market Update: EUR crosses (
EUR is up modestly vs. the USD but down again on its crosses, most notably vs. the GBP (note French vs. German 10 year bond spread widens to 154bps).
Takeaway, Market is having more difficulty absorbing the USD sell side of the cross flows, most notably in GBPUSD (buying).
XAUUSD 4 HOUR – Too tight to last for lpmg
A noted yesterday, a 4150-4200 range was too tight to last for long and that proved to be the case with the bottom end giving way.
This leaves it in a 4100-4200 range with 4150 setting the tone.
Should the bottom end give way then 4066-73 would be back on the table.
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