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[SF Monedge]

Sometimes patience is a virtue.  EurJpy pulled up and my preference remains on the sell side for now.

[GVI Forex 2]

Either month/quarter end buying and/or taking Powell’s comments as a sign of a soft landing, stocks are bouncing up into the close.

[GVI Forex 2]

Powell: There no rush to cut rates quickly… will be guided by data… stocks dip… dollar spikes higher\

If economy evolves as expected, 2 more rate cuts this year for a total of 50bps

[GVI Forex 2]

… Looking forward, if the economy evolves broadly as expected, policy will move over time toward a more neutral stance. But we are not on any preset course. The risks are two-sided, and we will continue to make our decisions meeting by meeting. As we consider additional policy adjustments, we will carefully assess incoming data, the evolving outlook, and the balance of risks. Overall, the economy is in solid shape; we intend to use our tools to keep it there.

Text of Powell’s Economic Outlook speech

[GVI Forex 2]

CME Fed Watch ahead of Powell

42/58 for 50 bps rate hike

[GVI Forex 2]

Month/quarter end fixing is done… focus will soon shift to Powell’s speech.

[GVI Forex 2]

Why did EURUSD hit the skids while GBPUSD is keeping a bid (see below)…. I gave the clue what cross to watch

Watch now the 4 PM London fixing coming up soon

EURGBP 15 Minute Chart’

 

[SF Monedge]

Preferred trade for me so far entering the week is the sell side of EurJpy.

[GVI Forex 2]

AT ALERTS

The following video shows 3 AT Alerts that hit their targets today.

Sign up for The Amazing Trader

SIgn up for the Global-View Trading Club and send a request for you 50% member AAT discount

[Belgrade Bobby]

GBPUSD Daily

Supports : 1.33650 , 1.33450 & 1.33100

Resistances : 1.34250 , 1.34350 & 1.34950

Cable is struggling for 5 days already with the top and using some Thumb analysis we can expect start of a correction, unless it takes out today 1.34350.

However, Close tonight above 1.33850 would leave an opportunity for one more leg Up and test of 1.34950.

[GVI Forex 2]

I call it a fickle pickle month end trading

EURGBP .8354 => .8343=> .8360=> .8345

EURUSD backed off from 1.12 as EURGBP slipped (still well within it day range)

[GVI Forex 2]

Talking about being fickle

43/57 odds for a 50bps rate cut (reverse of last week)

[GVI Forex 2]

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

The final day of another punchy quarter for U.S. stocks has proven a more volatile affair overseas: China’s stellar stock recovery has added another whopping 8% pre-holiday, while Tokyo’s swoon on the new Japanese prime minister jarred in the other direction.

For Wall Street, Federal Reserve Chair Jerome Powell tees up in Nashville later to give his latest steer on the unfolding Fed easing cycle, with soothing August inflation numbers as a welcome backdrop. The rest of the week looks set to be dominated by soundings on the labor market, the upcoming earnings season and the start of the election-edged final quarter.

Morning Bid: Powell to close out Q3, China stocks boom 8%

[GVI Forex 2]

Simple definition of fickle: likely to change

EURGBP .8343,GBPUSD back above 1.34, EURUSD lags

[Mtl JP]

hot . HOT !!
china govt meddling

china stocks on a romp

[GVI Forex 2]

USDJPY 4 HOUR CHART – FIBOS

You need to give some leeway to chart levels given the volatility in this currency, such as the brief break of 141.70 that failed to follow through. 142 is pivotal on downside, 142.95 is minor chart resistance.

The sharp down move Friday-Monday has left little in the way of key nearby resistance so let’s take a look at retracements as potential levels USING OUR FIBONACCI CALCULATOR

[GVI Forex 2]

Month end:

GBPUSD so far failing to hold 1.34+ after EURUSD test of 1.12+ failed to hold,

EURGBP still has a bid (last .8354), at least for now bit as I said, this cross can often be fickle due to month end flows..

[Belgrade Bobby]

EURUSD 4h

Supports : 1.11750/800, 1.11600 & 1.11400

Resistances : 1.12100 , 1.12150 & 1.12350

If it holds above 1.11750 next 2 hours, we’ll have another leg Up.

If below 1.11750 targets 1.11400

[GVI Forex 2]

One observation I have made for month end is that EURGBP flows can be quite active and often fickle, influencing GBPUD, EURUSD or both (currently giving EURUSD some support).

EURGBP 3o MINUTE CHART

[GVI Forex 2]

According to Investopedia, Rebalancing is the process of realigning the weightings of a portfolio of assets. Rebalancing involves periodically buying or selling assets in a portfolio to maintain an original or desired level of asset allocation or risk.

Many international equity managers like to minimize the forex exposure of their equity portfolio and put on forex hedges to reduce that risk. Thus, at the end of each month they adjust the size of their hedges to bring them back into line with the current size of their portfolio.

What does this mean for the forex trader?

Have you ever heard of the term “month-end rebalancing?”

[Author]

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