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[Belgrade Bobby]

XAUUSD – Gold Daily

Supports : 2480.00 ,  2465.00 & 2410.00

Resistances : 2510.00 , 2515.00 & 2570.00

Close tonight above 2485.00 would call for another leg Up.

[Belgrade Bobby]

EURUSD 4h

Resistances : 1.10750 , 1.11350 & 1.11650

Supports : 1.10550 , 1.10400 & 1.09950

It needs to take out 1.10750 to be able to continue up in this very wave.

Failure would call for a correction , but it can be more time consuming then real downward one.

1.10550 is most important for that scenario to hold.

Channels are pretty clean, so make your own conclusions.

[GVI Forex 2]

EURGBP 4 HOUR – BOUNCE FROM .8500

Whatever order flow that was driving EURGBP lower has apparently been filled and this has seen a bounce from just above .8500.

This has helped give EURUSD a bid after lagging due to selling in this cross.

Currently testing .8530, a break above would end the latest leg down.

Trendline is the key level above it.

[GVI Forex 2]

EURUSD WEEKLY CHART – 200 WEEK MVA (YELLOW)

[Mtl JP]

EURO 1.1068 as I type

–

toying with its 200week ma

[GVI Forex 2]

SF, it is working on any pair as there has not been follow through on bouts of USD buying.

[SF Monedge]

My apology, prior post in reference to UsdJpy primarily.

[GVI Forex 2]

Turning into a trend is yoiur friend day as USD extending its overnight lows except vs the JPY.

[SF Monedge]

For those who prefer active approaches vs position trading, one would think Dollar sees lingering pressure until Jackson Hole.  I made money this morning on the long side but it was against the grain and dicey with the way price behavior transpired.  Short side is better so far.  This pair is really volatile of late so if you are courageous or pretty good at this then sure, get in there and fight it out.  Preferred method in such an environment is to wait for price parameters to be pierce and catch the retrace but it will almost surely go back through the pierce.  This is not position trading obviously.

[GVI Forex 2]

USDCAD DAILY CHART – WEEKLY FX OUTLOOK AND CHART POSTED OVER THE WEEKEND

(NOTE, LAST TRADE AT 1.3666)

Trading in the background and more of a laggard than a leader.

Top is in, can it reverse to a downtrend?

Current focus is on a range around 1,.37, which will dictate whether it can go after 1.3656 and below.

On the upside, back above 1.3740-50 would be needed to shift focus back to 1.38.

[GVI Forex 2]

Current Fed pricing’

Majority of economists are looking for 75bp in rate cuts this year

Market is pricing in 95 bps of cuts

[GVI Forex 2]

i POSTED THIS OVER THE WEEKEND

Week ahead:

With markets hooked on US data, the calendar is quiet until Thursday-Friday with the highlight being Powell’s speech at Jackson Hole. After the last batch of US data *retail sales, weekly jobless claims), expectations have taken a 50bpo rate cut in Sept off the table and are looking for a 25bp cut. Key data event will be the August employment report in early September.

[GVI Forex 2]

AUDUSD DAILY CHART – AS POSTED IN THE FX WEEKLY OUTLOOK

‘
(Note, AUDUSD last traded at .6690)

With the low in place and momentum building to the upside, target is ,6713 if .6645 can now hold as support.

In any case, expect support as long as it trades above .6600.

[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Samuel Indyk

The volatility that rocked markets in early August appears to be back under control, and with the Kansas City Fed’s Jackson Hole Symposium set to kick off on Thursday, things could stay that way until later in the week.

Morning Bid:  Greenback in the red as Jackson Hole looms

[GVI Forex 2]

XAUUSD 1 HOUR CHART – 2500 REMAINS THE FOCUS

XAUUSD backing off from a record 2510 high

Will be treated as a retracement as long as the 2477 and the trendline holds.

In any cse, 2500 clearly holds the key to what lies ahead.

[GVI Forex 2]

Link fixed in Weekly FX Outlook (see below)

Note, EURUSD held test of 1.1050

[GVI Forex 2]

USDJPY DAILY CHART – SUPPORT BROKEN

As I pointed out in the Weekly Outlook, 146.05 was the key level on the downside and USDJPY smashed through it (145.18 low) but so far has not established below it.

At a minimum, this confirms the move up to 149.39 was  a retracement but if this leads to consolidation, then look for 145.148 to be a potential range.,

[GVI Forex 2]

WEEKLY FX CHART OUTLOOK EURUSD, USDJPY, GBPUSD, USDCAD, AUDUSD

[GVI Forex 2]

With XAUUSD topping 2500 to set a new record high on Friday, the question is whether this is a speculative bubble or is there more to the surge in the precious metal?

What is the Surge in Gold Saying About the US Dollar?

 

[GVI Forex 2]

Week ahead:

With markets hooked on US data, the calendar is quiet until Thursday-Friday with the highlight being Powell’s speech at Jackson Hole. After the last batch of US data *retail sales, weekly jobless claims), expectations have taken a 50bpo rate cut in Sept off the table and are looking for a 25bp cut. Key data event will be the August employment report in early September.

[Author]

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