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[GVI Forex 2]

GB[USD 4 HOUR CHART – Follows weaker EURUSD

GBPUsD dragged down by EURUSD as it follows with a lag (note weaker EURGBP).

Key support is at 1.3219 as we await the UK flash PMI

As note in Newsquawk Week Ahead September 23-27th

UK FLASH PMI (MON): Expectations are for September’s services PMI to decline to 53.5 from 53.7, manufacturing to hold steady at 52.5, leaving the composite at 53.5 vs. prev. 53.8. As a reminder, the prior report saw the services print rise to 53.7 from 52.5, and manufacturing rise to 52.5 from 52.1, leaving the composite comfortably in expansionary territory at 53.8 vs. prev. 52.8.

[GVI Forex 2]

USDJPY 4 HOUR CHART – Risk Off

USDJPY dips on a touch of risk off (JPY firmer on crosses) after the weaker flash PMIS from Germany and France

As the chart shows, support comes in at 143.40 and then a void.

As noted on our Weekly FX Chart Outlook

As noted, treat this as a retracement unless 145+ is renewed.

[GVI Forex 2]

EURUSD 15 MINUTE CHART – MIND THE GAP

EURUSD HIT BY WEAKER PMIS FROM GERMANY AND FRANCE

BREAK OF 1.1115 NEEDS TO SEE 1.11 BROKEN FOR THE KEY 1.1068 SUPPORT TO BE EXPOSED.

NOTE THE GAP ON THE PMI DATA

[GVI Forex 2]

Get ready, EZ and UK PMIS

See our Economic Calendar

[GVI Forex 2]

THIS WEEK’S MARKET-MOVING EVENTS (all days local)

PMI flashes for September will kick off the week Monday with the newest insights into the state of the economies of India, France, Germany, the UK, the European Union, and the US from the purchasing managers’ perspective.

Econoday

[GVI Forex 2]

Japanese markets are closed Monday for a holiday

[michael Calif]

repeat post:    Law of Time, the decline in USD futures since late June has ended.    :gtwo3

[GVI Forex 2]

New week, new ball game!

Similar to last week, how the coming week ends will be more significant than how it starts out. In this regard, the dollar is ending on its back foot (except vs JPY) although only the GBP and AUD broke fresh ground to the upside.

Now, let’ take a look at key levels to watch in the week ahead.

Weekly FX Chart Outlook:- Sept 23-27

[Mtl JP]

50pts, new powell buzzword, jeff cox’ dictionary
Looks like either cox on his own or someone on behalf of Jerome felt the need for re-explaining to the peasants

The Fed has set out on a ‘recalibration’ of policy. Here’s what Powell’s new buzzword means

– jeff cox

[GVI Forex 2]

Newsquawk.com Week Ahead – 23rd-27th September: Highlights include US PCE, Global PMIs, RBA, SNB, Australian and Tokyo CPI

 

[GVI Forex 2]

SF, keep in mind the SNB meets next week and a rate cut is expected.

[GVI Forex 2]

BTC 4 HOUR CHART

As I have been noting, BTC has stayed mainly in the background although technicals are tilted more to the upside.

However, to suggest a shift in target to 70K it would have to solidly take out 65-66k

Whille within 60-65K, expect more chop.

[SF Monedge]

I like the sell side of UsdChf up here the 8515 area headed into the weekend based on event risk and a few other things.

[SF Monedge]

Secondary view on DX – In the long term I see stocks going up at least 5% post-Fed and DX dropping again after some rebalancing.  We are simply in part of the upward rebalancing in the near term.

[SF Monedge]

Regarding UsdJpy, I see DX buy side strength dominant at present in the bigger picture but that does mean we can’t see waves of selling along the way, hence why I see plenty of sell side orders, which are surely a mix of import/export, sovereign, fund etc rolling portfolio activity.  So at present I am keeping my eye on 142.80 area for consideration of being a bit more intent again on the buy side.  I’ve just been picking away at it from the 143, and 143.60/70 area and selling the mid 144 area.  So far that dynamic has not changed headed into the weekend.  As a side note, this is a high risk weekend due to middle east events more than anything.  Rates, in my opinion are being adjusted quite responsibly by the major sovereigns.   Powell included, albeit perhaps a little too patiently.

[GVI Forex 2]

FWIW< It appears that someone unloaded a boatload of dollars that the market has had trouble absorbing. so far still within the day' ranges though.

[GVI Forex 2]

XAUUSD 4 HOUR – Keep rising

Having established above 2600, XAUUSD keep its bid as it continues to extend its record high.

As I like to say, there is no reason to guess at a top until charts (in my case The Amazing Trader) tell you to do so.

[GVI Forex 2]

US500 1 HOUR CHART – Taking a breather

Stocks backing off from the record high and on this chart, would need to establish below 5685 to suggest a greater retracement risk.

Otherwise, key support level is distant at 5605, 5711 blocks exposing the record high.

[GVI Forex 2]

Back to square one after dollar buying fizzled out.

[SF Monedge]

I see decent potential for buyers to come in with a little bit of strength again around 143.70 UsdJpy.  I believe we see 143 again in time but lets see.

[Author]

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