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XAUUSD 4 HOUR CHART – WHERE’S THE TOP
There is no reason to guess at a top until charts tell you there is a reason to do so.
Resistance: Use the most recent (record) high: 3028 so far today
Support: To state the obvious, 3000 will dictate the tone, below 2978 would be the level where charts say there is a top
Using my platform as a HEATMAP shows
… the dollar trading weaker except vs. a weaker JPY (USDJPY came within spitting distance but backing off after being unable to test 150).
EURUSD break of 1.0947-50 would need to hold to put 1.10 on the radar.
Middle East heating up, supporting oil and gold but little signs of stress elsewhere.
XAUUSD extends record high above 3005.
US stocks steady and seeing if they can build on a 2- day rally
Looking ahead,
Trump-Putin call today
entral bank meeting deluge starts on Wednesday
USDJPY 4 HOUR CHART – Reacting to risk on
What has the weaker JPY been telling us?
No BoJ rate hike this week?
Foreshadowed a shift out of a risk off mood?
Chart shows 149.32 stands in the way of key levels… 150.18 and 151.30
While 150+ should be tough, only back below 148.00-25 would shift the risk the other way.
NAS100 4 HOUR CHART – Green shoots
I hate to get carried away with a Monday rally but
There are some green shoots with the move above 19758. Â Now, to confirm the break of downward momentum, a move through above 20116-240 is needed to confirm.
Also, watch 20120 as above it would break a 4 week pattern of lower lows/lower highs, which at a minimum would further confirm momentum has been broken for now. .
.In any case, keeps a bid if it can trade above 19539.
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