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[GVI Forex 2]

GBPUSD 4 HOUR CHART – Retracement

Once again, thanks to JP for alerting us to the 100 and 200 daily moving average zone yesterday, where GBPUSD found support, helped by the reversal in EURGBP.

The move up is so far just a retracement that would first need to break the trendline and then move through 1.2800-20 to suggest a reversal.

On the downside, look for support if it holds above 1.2735.

Otherwise, look for 1.2750 to set the intra-day tone of trading within 1.27-1.28

[Mtl JP]

Imminent vs Not imminent
–
“Iran may pursue agents who killed Haniyeh instead of widely attacking Israel – report”
— timesofisrael

[Mtl JP]

vigilance for megaquake
could be metaphorically too to traders

japan meteorologist issued what they called a “mega earthquake caution,” assessing that the possibility of a large quake was relatively hically too her than usual but not that one would definitely occur in the near future. It urged the country’s residents to practice increased vigilance for the next week

[Mtl JP]

GBP 1.2744

oh baby , what a good puppy u r
come home to daddy !

[Belgrade Bobby]

XAUUSD – GOLD

If the Shiny thingy surmounts that Line just above the head ( apx 2430.00 ) , we’ll be on the road to 2500.00 for starters.

Another test of the support at 2390.00 is still possible, but I wouldn’t discard the possibility for Gold to just continue Up without further delay.

Ultimate target is at 2615.00

[SF Monedge]

Should see Sterling revalue toward 2720 or so before continuing further in most scenarios.

[SF Monedge]

Exploring the buy side of UsdMxn (Peso) and UsdThb (Thai Bhat) a bit lower than Peso

[SF Monedge]

Market is going to take a little off the top here in stocks and Aud and EU, not much

[michael Calif]

futures traders are Long Crude Oil per Aug 4    :gtwo3

[SF Monedge]

JP (your NG stocks)

Oil is a buy but metrics point to trouble over $76 and/or approaching $77 for now barring some shock.  Natural gas on the other hand is in full buy mode as inventories rose less than expected but the pricing was already primarily in place on the bid so there could be a brief pause approaching $2.2 and back toward $2.1 or lower somewhat in stride with oil and up from there.

[GVI Forex 2]

Look at EURGBP for a clue to GBPUSD and EURUSD

.8568 last

Again kudos to JP for the mva alert

Risk on in stocks

[GVI Forex 2]

EURUSD 1.0883

Got the stops below 1.0892 on 2nd try

Hint: watch 10-year 4.00%, may act like a market pivot

[SF Monedge]

Expecting Yen futures to begin to gain strength on the buy side around current session lows already seen so that is a UsdJpy sell approaching 147.50) based on that one metric.  Should be interesting little battle.

[michael Calif]

higher Gold prices today are in sympathy with the the bull market in Silver; nothing has changed, traders remain Short Gold futures    :gtwo3

[SF Monedge]

I need a little more slipping in Euro (0860 minimum for positioning or a flat out stall near early session lows) before jumping on the buy side again, the dominant cycle is still buy side for now.

[SF Monedge]

Once again the devil is in the details.  The headline jobs number is better than expected.  What is behind the headline number is that entering 2020 96% of job applicants found work, but the fact is that now 96% of applicants do not find work.  The percent of jobs created is also dominant on the part-time position vs the full time position.  While layoffs and firings do not appear to have much change in the headline, re-assignment to part time from full time is heavily skewed toward part-time re-hire, which cancels out the original layoff/firing.

Smells  all rosy to some people though.

[SF Monedge]

Other than the November contract, all futures, options, forwards, spreads, and other secret metrics are stronger on the buy side of Euro post=data.

[GVI Forex 2]

Weekly jobless claims less than expected

Even veteran traders would take a double take on the reaction but bond yields up, Stocks up, usd up

I guess it is how do you spell r-e-l-i-e-f that the job market is not cratering.

EURUSD tested my 1.0892 support, held first test

[Belgrade Bobby]

XAUUSD – Gold

Supports : 2380.00 & 2400.00

Resistances : 2425.00 , 2440.00 & 2495.00

If it manages to go back above 2425.00 previous high will be in sights.

However , close below 2400.00 would be a bearish signal – not definitive, but first warning.

[Mtl JP]

… bumpy …
or anxious
–
looking at what is in demand and it appears safe-haven ccies and aud sticks out like sore thumb (tks to RBA)

DLRx looks confused , some might say mixed and I d say vs yestrday is in harmony with stocks which cerrently look pukey. Maybe on account of anxiety about FEDs “easing”.
right … nothing like anxiety buildup after a washing.

I think players are gaining confidence that the table is turning in favour of employers vs employees.
which adds to the anxiety about how the FEDs digest that.

outside the econ calendar at 8:30 and 10am
13:00 – janet peddles 25billion of 30-yr paper (after a crappy auction yesty)
15:00 – barkin yaks

With that being said I am biased
I suspect the DLR (Dlrx) has a negative tone and its upside is currently limited.

[Author]

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