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[SF Monedge]

Jay in my view the reason there is a disconnect with Euro and Gbp is stocks this time.  You could see it yesterday when money was moving into Russel but nowhere else, today it is Dow.  Euro moves with Dow not S&P.  It is why I was short Sterling yesterday.

[GVI Forex 2]

GBPUSD 5 Minute Chart – Held support

You can see by this chart why I posted “Support at 1.3010 blocks a return to 1.30 or below” (see prior post)

You can also see why I keep highlighting The Amazing Trader and it uncanny ability to identify key chart levels and patterns to trade

[GVI Forex 2]

Logic says that after the sharp drop in GBPUSD post-CPI there should be offers by those caught out and hoping for a bounce.

For me, the upside is limited unless 1.3050+ trades.

Support at 1.3010 blocks a return to 1.30 or below.

[Belgrade Bobby]

GBPUSD Daily

Supports : 1.29800 , 1.28750 & 1.27350

Resistances : 1.30800 , 1.31050 & 1.31750

If it doesn’t break 1.29800 within next 24h, we’ll be in for a sharp turn UP.

1.31050 still the Major point on the Upper side.

Pattern – Time Wise : this can be an ideal situation for the counter move – I am not saying it is going to happen for sure, but be aware !

[GVI Forex 2]

Newsquawk’s NY Open report (full report and podcast available for subcsribers)

Sentiment hit by poor tech and luxury earnings; Gilts fuelled by softer CPI

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.

(Click below to read the full report and listen to the guys doing the podcast).

4 Things You Need to Know

European bourses are mostly lower, with sentiment hit following poor LVMH/ASML results; the FTSE 100 leads after the region’s cooler-than-expected inflation metrics.

Dollar is flat, GBP is the clear underperformer after headline/services inflation figures declined more than expected.

Bonds continue to build on the prior day’s gains, with upside also fuelled by the aforementioned UK CPI report, which has led to clear outperformance in Gilts.

Crude is modestly lower, XAU/base metals both gain.
Try Newsquawk for 7 Days Free

[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Mike Dolan

World markets struggled to find a footing on Wednesday after Europe’s ASML (ASML.AS), opens new tab sideswiped the global chip sector late yesterday with a surprisingly weak orders outlook and investors prayed the flub was a one-off as third-quarter earnings updates stream in.

There was better news for bond markets – with yields declining on a mix of falling oil prices and significant European disinflation that underscores expectations of another European Central Bank interest rate cut on Thursday.

Morning Bid: Stocks stunned by ASML curveball, pound plunges

[GVI Forex 2]

BTC DAILY CHART – Making a fresh run at 70K?

I prefer to focus on pivotal levels rather than just technical chart points for cryptos.

In this regard, BTC extending high and keeps a bid while above 65Kbit need something to clear 68K to make a run ay 70K.

See technical levels shown on this chart.

[GVI Forex 2]

XAUUSD 4 HOUR CHART – Record high is back on the radar

Making a fresh run at the record 2685 high with only 2678 standing in the way.

Support is now 2638-58 with the top end needing to hold to keep the rercord high on the radar.

[GVI Forex 2]

EURGBP 4 HOUR CHART – NEWS MATTERS

The reaction to the weaker UK CPI has seen EURUGBP spike higher after failing to reach .8300-18, suggesting the bottom is in for now.

Key levels are at .8404 and .8434 so damage not yet fatal but certainly caught the shorts (ahead of the ECB) wrongfooted.

If you are wondering why EURUSD is lagging, look at this cross.

[GVI Forex 2]

GBPUSD 1 HOUR CHART – Shows the post-UK CPI price action

Chart says it all

[GVI Forex 2]

GBPUSD DAILY CHART – SLAMMED ON WEAKER CPI

BREAK OF 1,.30 IS SIFGNIFICANT IF IT HOLDS WITH A VOID ON DAILY CHART UNTIL BELOW 1.28

Key now is if 1.30 becomes resistance….intra-day resistance 1.3015-30-50.

[GVI Forex 2]

GBP down on CPI miss (lower than expected)

[SF Monedge]

I am really nailing Sterling and Yen right now and it is important to understand I was a CTA on the phone filling orders through many houses with large contracts and the competition was intense, but you just behave solid.  So I am seeing repetitive patters right now in these pairs and if you have any common sense I would pay attention.  At times I  will shout something like “long Yen” that means with your brokers you are selling Yen.  It is very fast and there are major banks filling orders so you must be on you toes.  That said, if you just relax you can see what they are doing.

[SF Monedge]

UsdJpy is going to bounce off of 140 / 50 and keep going.  It would take some real intent to change that.

[SF Monedge]

Sorry meant long UsdJpy and out short sterling a while ago.

[SF Monedge]

Yen.  Like clockwork.  Out of the Sterling short and in long Yen and happy.  They had to run the stops.

[SF Monedge]

Regarding Yen.  I am waiting for them to run the figure and the stops and then come in hard on the buy side.  Not nice Japanese data earlier at all.

Side note, reading the common sense post by Jay, is gold.

Dide note, listening to Mary Daly San Francisco Fed earlier I am fully convinced she is completely full of it and trying to make a duck look like an eagle.

[Mtl JP]

USDJPY 149.07

puppy frollicked with 150 and that – wants the degenerates’ rumour mill – is oiki yoyki scary of intervention kabooki

and as if by devine coincidence GV’s calendar shows
21:30 JPY BoJ Adachi Speech and apparently of “Low” potential impact.

maybe …
you wanna get taste of adachi’s yakings, suggest google BoJ Adachi board member

[GVI Forex 2]

They say a trader learns more from losing than winning but hopefully it is not to the extent that it wipes out one’s account.

I was asked the following question by a Global-View Trading Club member (posted with permission)…

Common Sense Tips for The Average Trader

[SF Monedge]

I am having a very hard time justifying a risk on mood for this week.  Everything is showing sell.  In part due to election pending, in part due to more beepers about to explode, and a few other things such as bogus job numbers.

[Author]

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