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Markets seem to be coming around to my view
A Case for a Hawkish Fed Rate Cut Decision
US 10-=Year Yield is back above 4.40%
BTCUSD 4 HOUR CHART B- TRUMP TRADE RULES
Let me preface this by saying I have never traded a crypto and probably never will but it is hard to ignore this part of the Trump Trade and a new record high (106661).
Rather than look at specific technical levels given the volatility, I prefer to use pivotal levels. In this regard, 105K needs to become support to suggest 108-100K as a target.
Below 100-102K would be needed to suggest a p\ause.
EURUSD 1 HOUR CHART – 1;05 PATTERN EXTENDED
1.05, which traded Tuesday-Friday last week, has been extended to 5 days in a row on Monday. Range is limited while this pattern continues but the longer it goes on the greater the risk of a directional move once it is broken.
This is similar to the recent USDJPY pattern around 150 and you can see what happened after that pattern was broken,
In the meantime, there is a double top at 1.0524 ahead of resistance at 1.0531-39.
On the downside, 1.0480 blocks last week’s 1.0453 low.
nOTE, THE 2 PILLARS OF EURUSD SUPPORT WERE EURGBP AND EURJPY. EURGBP is weaker today so more of a weight on EURUSD than support. EURJPY is still trading with a bid.
Trader Alert This is Not a Normal Trading Week
The upcoming week is filled with key events highlighted by central bank monetary policy decisions in the U.S., Japan and UK as well as a full economic calendar.
While this suggests plenty of volatility for trading This is Not a Normal Trading Week
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