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[GVI Forex 2]

GBPUSD DAILY CHART – KEY SUPPORT LOOMS

The Trump Trade is sparing no victims, and this includes GBPUSD, which would put the key 1.2612 on the radar while below 1.2664.

For day traders, use 1.2650 (Power of 50) as a pivotal level as GBPUSD seems to be more of a follower than a leader. .

Resistance starts at 1.2695.

[GVI Forex 2]

For those not familiar with this term or those who would like a reminder, see this popular articles in our blog

My Favorite Trading Secret: The Power of the “50” Level

[GVI Forex 2]

EURUSD 1 HOUR CHART – POWER OF 50

Question is whether EURUSD needs another failed retracement to make a run at 1.05 or will 1,0500-50 prove to be a sticky zone.

For day traders, it is a Power of 50 day with 1.0550 likely to set the tone.

Otherwise, a move above 1.0577 would be needed to slow the threat to key targets at 1.0500-15 and the major one at 1.0446.

[GVI Forex 2]

XAUUSD DAILY CHART – CRUNCH TIME FOR THE BULLS

XAUUSD is down for the 5th day in a row and about 8.5% from its record 2790 high in just 2 week

CRUNCH TIME FOR THE BULLS::

2546 = next support/target

2543 = 100 day mva

Below 2543-46 would expose 2500 with key support below this level

On the upside, a solid move back above 2600 would be needed to ease the risk.

[GVI Forex 2]

An uptick in U.S. consumer price inflation last month that was in line with forecasts propped up Wall Street indexes on Wednesday, and lifted the dollar close to levels against the yen that had been concerning to the Bank of Japan.M

Morning Bid: Inflation Looks Sticky, So Bring on Powell

[GVI Forex 2]

Markets like certainty and hate uncertainty. The former allows expectations to be formed for what may lie ahead. It is harder to form a consensus when the outlook is uncertain although it does create a backdrop for volatility.,,,

How to Trade in the New Trump Era

[GVI Forex 2]

BTCUSD 4 HOUR CHART – ANOTHER NEW RECORD HIGH

It has been almost straight up since around 67K, setting another record high at 93555, before correctly back to around 90K.

So let’s keep it simple. 90K will eventually dictate whether BTCUSD has enough behind it to make a run at 100K or back off into a range.

[GVI Forex 2]

AUDUSD DAILY CHART – BREAKDOWN

AUDUSD fbreak of .6507 is significant as there is a void for another 160 pips.

To keep this one simple, back above 6507 would be needed to slow the risk.

[GVI Forex 2]

USDJPY DAILY CHART – BREAKOUT

Firm break of 155.20 leaves a void on the upside until 157.83-158.73

Look for a bid as long as it stays above 155.00=20

 

[GVI Forex 2]

NAS100 DAILY CHART – Consolidating

NAS100 losing some steam and seems to be biding its time hoping for a sign to break the record high.

On the downside, a move below 20965 would slow the threat but only below 20000 would negate it..

[GVI Forex 2]

XAUUSD DAILY CHART – Is 2500 a risk?

The failure to hold a bounce above 2600 keeps the risk on the downside.

Next support is at 2545 (suggests 2550 is pivotal) with next support below 2500 although this is likely the line in the sand on the downside.

Back above 2600 would be needed to neutralize the risk.

 

[GVI Forex 2]

USDMXN – No change

Continues to consolidate with a bid

20.00+ needs to continue to provide support to keep a bid targeting the 20.80 high.

20.10-80 is the current consolidation range with a bid while above 20.10-30.

[SF Monedge]

Importantly, Trump being the President can and will fight without hesitation.  What I  am seeing headed our way is efficiency in a respectful but sturdy fashion.  The President will not back down but it appears his approach will be more sensitive.  Hopefully.  And that is good  for markets.

[SF Monedge]

I also believe we are going to see a different version of Trump.  Nicer.  Kinder.  It was visible in his visit with Biden today.  Ironically that may stabilize markets in a broad aspect.

[SF Monedge]

I believe it is safe to say if markets were going to panic it would have been today, but there is no panic.

[GVI Forex 2]

Interesting how the market came to its senses after the reaction to CPI that saw bond yields fall along with the USD.

It may have just been a matter of news algos running wild so they could run stops.

Here is the latest US bond yield snapshot

[GVI Forex 2]

EURUSD WEEKLY CHART – 1.05 in the headlight

Targets are clear at 1.0516 (suggests 1,05 as well) and 1.0447 if 1.06 now becomes resistance

With that said, watch 1.0550 as that could prove pivotal if this latest leg down is to make a run at 1.05

[GVI Forex 2]

USDJPY break of  155.20 opens up the upside if 155.00-20 becomes support.

[GVI Forex 2]

Trump Trades back in the driver’s seat.

[SF Monedge]

I would like to make a suggestion.  One thing that works very well for me is a 3 month chart with each bar being 2 days.

[Author]

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