Contact us

[michael Calif]

Dec 3 re-post.    Daily charts.    Law of Time has failed to confirm SP500 rally from Nov 19.    Option Profile gtwo3

[GVI Forex 2]

US500 N4 HOUR CHART – READY FOR A PAUSE?

As I wrote yesterday at this time

What stands out on this chart?

All you see are red Amazing Trader support lines, indicating that any attempt at a retracement is being met with buying.

Until this pattern changes, look for the upside to continue to be exposed.

The pause below 6100 suggests maybe its time or a breather but as noyed above the red AT lines would need to start being taken out to indicate profit-taking.

[michael Calif]

per Law of Time, Euro futures remain Long. along with Yen and 10yr futures    Option Profile gtwo3

[Belgrade Bobby]

Nvidia – NVDA

Stubbornly UP

149.80 & 152.90 resistances

141.00 & 138.00 supports

[Belgrade Bobby]

NIO Inc.

So far holding up, but doesn’t look good formation wise.

Needs close above 4.65 to have a chance of breaking higher.

If not, faces danger of dropping another leg down.

Last level of support in that case is 4.35

[GVI Forex 2]

XAUUSD 4 HOIUR CHART – On the sidelines buy…

XAUUSD continues to stay on the sidelines but a failure to test 2666 suggests downside may be more at risk.

With that said, it would need to move through 2600-20 to suggest anything more than range trading.

[GVI Forex 2]

EURUSD DAILY CHART –  WHY IS THE EURUSD BID

If you look at various EUR crosses it will give you a clue why RURUSDD is bid.

The most obvious is EURGBP but if you fig deeper , look at others such as EURBTC (BTCUSD last at 98300 after hitting a record high at 104000 while EURUSD is near its high for the day).

I am not privy to the flows other than flows other than observi8ng short EUR positions being unwound.

Chart wise, key levels are at 1.0550 and 1.0610 but watch its crosses for a clue..,

 

[SF Monedge]

Risk on Euro is fading at current levels and so the sell side should not experience high loss risk on the sell side from the 0588-98 area.  Tell me why Euro  should run uphill from here from a fundamental perspective.

[SF Monedge]

Buy side of Usd/Canadian looks interesting coming up shortly.

[Belgrade Bobby]

ETHUSD – Ethereum

First resistance/target at 3970.00 almost met ( high at this moment 3960.00)

Long term downtrend line taken out clearly.

Above 3970.00 targets 4.500.00

[Belgrade Bobby]

BTCUSD – Bitcoin

New All Time High hit – came very close to my first target at 104.500.00  ( that upper channel trendline) –  I warned you last night….

So whats next ?

Above 104.500 comes 108.660.00

[GVI Forex 2]

Simple algebra

EUR/USD x USDJPY = EUR/JPY

EURUSD and USDJPY both firmed as EURJPY rose

Once cross topped, EURUSD lost its bid, USDJPY lost its strong bid

US yields slipping, may be boosting JPY

Also BTCUSD last at $100,700 after $100k mission accomplished

Now we wait for NFP roulette.

[SF Monedge]

Dow is off but under the hood advancing shares are positive vs declining shares albeit with the volume dominant on the sell side.  One condition telling me the stock picking environment I mentioned last week I thought we would see is still intact.  So I would not discount the potential  for a bit of a buy side tone tomorrow, potentially later today.

[GVI Forex 2]

EURJPY 5 MIN CHART – Look at EURUSD after EURJPY topped out

[SF Monedge]

Sterling (2768), Canadian, and  Swiss have reached areas minutes ago which I think many may consider good for fading the pops.  One might think on a very short term basis your risk of tremendous loss at these levels would be reduced.

[GVI Forex 2]

Look at long JPY crosses unwinding for a source of EURUSD and to a lesser extent GBPUSD demand… test for EURUSD will come when unwinding is done

[michael Calif]

continuing post:   Law of Time is Long Euro futures.    Option Profile gtwo3

[GVI Forex 2]

EURUSD rebound coming after limited fallout from French vote in a markjet that factored in the worst which did not occur.

Key levels are at 1.0584/1.0596 and of course 1.0610 as we are BACK TO SQUARE ONE WHERE WE STARTED THE WEEK. .

It is hard to suggest a breakout ahead of US jobs but risk is on the upside while above 1.05509.

[GVI Forex 2]

News algos reacting o rise in jobless claims but it is not signifdicant or an indicator of Friday’s NFP.

Use EURUSD 1.0550 as the bias setting pivotal level.

[GVI Forex 2]

Weekly jobless claims and monthly trade report due next

See our Economic Calendar

[Author]

Posts