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[SF Monedge]

Definitely some stock picking transpiring today in Dow even though it is down.  Volume has been on the positive side vs declining shares.  Could drop again but just noting the condition.

[SF Monedge]

That went better than expected.  The sudden Dollar dump 2 minutes after I posted the sell ideas was across markets so it is uniform.

[GVI Forex 2]

Why did USDJPY go into a freefall? Look below for the correlation with US bond yields

USDJPY 30 MINUTE CHART

 

US 10 year bond yield (lower after moving higher earlier)

[GVI Forex 2]

Why did USDJPY go into a freefall? Look below for the correlatioon with US bond yields

USDJPY 30 MINUTE CHART

us 10 year bond yield

[SF Monedge]

Sell side of UsdChf and UsdSgd around current market could get legs.  Not very enthusiastic about it because they are in a buy cycle but the prices have reached potential turning spots even if very temporarily.

[GVI Forex 2]

Unless EURUSD can regain 1.05, the risk is pointed down. Questioon is whethjer the easiest path is in its crosses (e.g. EURJPY) or in the dollart.

So I thought it was time to revisit this popular article gioven the fresh run against the EUR.

Forex Trading: Seeking the Path of Least Resistance – A Common Sense Way to Trade

[GVI Forex 2]

Unless EURUSD can regain 1.05, the risk is pointed down. Questioon is whethjer the easiest path is in its crosses (e.g. EURJPY) or in the dollart.

So I thought it was time to revisit this popular article gioven the fresh run against the EUR.

Forex Trading: Seeking the Path of Least Resistance – A Common Sense Way to Trade

 

 

[GVI Forex 2]

ISM PMI due at 15:00 GMT — see our Economic Calendar

[SF Monedge]

One of the better trades I see is sell side of EurJpy but from higher than present market.  Catching falling knives in other pairs does not look appealing.

[GVI Forex 2]

EURUYSD 4 HOUR CHArtT – Targets or supports?

More like targets than supports

1.0474, 1.0457, 1.0425 (key)

[GVI Forex 2]

EURJPY selling order… below 158.00-10 opens a void… key levels arw not until 154.37 and 153.10

[GVI Forex 2]

The Savvy Trqder added an addendum to his update

Latest USDJPY and EURJPY Updates From the Savvy Trader

[GVI Forex 2]

Chatter is there could be a French no confidence vote as early as Wednesday

[GVI Forex 2]

EURUSD 30 MIN CHART – RESISTANCE HOLDS

Usin my Amazing Trader chart, this is why I highlighted 1`0537 as a key day resistance

Current down momentum stays intact as long as 1.0537 is not broken.

[GVI Forex 2]

Watch our for French political headlines… French PM Barnier speaks in parliamnent in about an hour… his office confirmed govt will SCRAP PLANS TO REDUCE MEDICATION REIMBURSEMENTS…MAY BE WHY EURUSD JUST POPPED… Res still at 1.0537

[GVI Forex 2]

NEWSQUAWK US OPEN

USD bid amid further tariff threats ahead of ISM Manufacturing, OATs in focus as the French gov’t awaits Le Pen’s decision

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 began the session in negative territory, but sentiment quickly improved to show a mostly positive picture in Europe; US futures modestly lower.

Dollar is propped up by further Trump tariff threats, EUR dragged by political uncertainty and tests 1.05 to the downside.

OATs in focus as the French gov’t awaits Le Pen’s decision; USTs are slightly lower ahead of US ISM Manufacturing PMIs.

WTI & Brent are on a firmer footing following better-than-expected Chinese PMIs, XAU/base metals pressured by the firmer Dollar.
Try Newsquawk for 7 Days Free

 

[GVI Forex 2]

10 Year Bond snapshots

Note the divergence with German yields. Also note  US 10 year yield closed at 4.178% on Friday

[GVI Forex 2]

EURGBP 4 HOUR CHART – Key support looms

Keep an eye on EURGBP as an indicator of EUR weakness, with offsets keeping a bid under GB{USD

Now approaching a major support at .8267. below sees a clear path for .8200 other than the pivotal .8250 level.

Only back above .8300-05 would postpone the risk.

[GVI Forex 2]

XAUUSD 4 HOUR CHART – NOT A SAFE HAVEN

At least for today XAUUSD is acting more like a currency than a safe haven (note French political uncertainty)

So far failure to make a serious run at the highs makes itr dependent on 2600-20 holding to keep a bid.

Otherwise, needs to regain 2633+ to retore the risk to 2666.

[GVI Forex 2]

USDJPY 1 HOUR CHART – WATCH 150

USDJPY is in sort of a no man’;s land where 1`50 will eventually dictate whether the low nis in or there is more room on the downside

Unlike last week, there are no stops until below the 149.46 low/  so revert to short-term chart for day trading.

Resistance is at150.74. key level above it is at 151.57

 

[Author]

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