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USDJPY 1 HOUR – WHAT’S HOT AND WHAT’S NOT
What’s hot: When it trades above 150
What’s not so hot: When it trades below 150
Note 50% FIBO at 150.75 vs. high at 150.32. Maybe the MoF watched our forum as there was some vague verbal intervention that seemed to cool the upside.
To s
uggest the high is in 149.39 would need to be broken.
EURGBP DAILY CHART – WHAT’S HOT AND WHAT’S NOT
What’s not: Not EURGBP which extended its low (by 5 pips) to .8295 before a quick bounce back.
On the upside, intra-day resistance start at .8325, upside limited while below it.
As I have been noting, this cross can be used as a EUR strength/weakness indicator with an influence on both EURUSD and GBPUSD.
EURUSD 4 HOUR – WHAT’S HOT AND WHAT’S NOT
What’s not: Not the EURUSD but the pause above 1.08 yesterday (1.0811 low) suggests a possible defense of an option level.
In any case, EURUSD is taking a breather as the USD backs off a touch elsewhere but would need to renew 1.0850+ (the bias setter, upside limited while below it)Â and then break 1.0873 to suggest anything other than ajust a minor retracement.
With that said, no key stops are left on the downside until the low is taken out.
XAUUSD 4 HOUR – WHAT’S HOT AND WHAT’S NOT
What’s hot: XAUUSD as it set another record high (2714)
As I have noted, when in record unchartered territory use the most recent high (low) as the only resistance (support).
As also noted yesterday, expect support as long as it trades above 2680-85, and add in 2700 for it to have a mega bid.
NAS100 4 HOUR CHART – Record high still looms
Still waiting for NAS100 to make a new high (record high 20766) but so far only coming close.
What I like to do is scan the time frames and see if there is a level or indicator that jumps out. In this regard, look at the 100 period 4 hour moving average (blue line) and how to checked the downside.
Otherwise, 20K on this CFD chart is the ultimate bias setter and whether this run about will finally set aa new record.
EURUSD DAILY CHART – 1.0777
For those long time Global-View members, you will remember Zeus pointing out levels like 1.0777
Well, if you look at this Amazing Trader chart the target is clear.
However, much depends on how hard 1.08 will be defended as an options barrier level.
On the upside, only back above 1.0840-50 would postpone the risk.
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