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[GVI Forex 2]

More like rotation into the lagging DJIA

[GVI Forex 2]

XAUUSD 4 HOUR CHART – Risk off or a technical move?

 

 

Xauusd break of 2341 takes it our of its recentg range and into one where 2387 is the key l;evel.

To keep it simple. Watch 2350 as it will dictate whether this move can make a run at 2387.

Fallback support is from 2331-41.

[SF Monedge]

It looks to me like there is some mild risk aversion across markets

[Mtl JP]

Some moods swirling around markets
–
Yahoo Finance
Fed will ‘join the party,’ cut rates at some point in 2024
… the debate rages on over when the Fed will cut rates

(WSJ) EU Recommends Disciplinary Action Against France for Excessive Deficit
The Commission also backed action against Italy, Belgium, Poland, Hungary, Slovakia and Malta for the same offense

The Commission, which polices the European Union’s budget rules, also backed action against Italy, Belgium, Poland, Hungary, Slovakia and Malta for the same . Its recommendations will be considered by EU governments at a meeting next month.

(CNBC) And a message European peasants from IMF’ s kristalina:
Your productivity sucks: prepare to work ! and work harder !!

https://www.cnbc.com/2024/06/20/imf-chief-says-europe-looks-like-an-ideas-supermarket-for-the-us.html
IMF chief says Europe looks like ‘an ideas supermarket’ for the U.S., calls for further integration

[michael Calif]

revisio  –  now buying all EURUSD declines   :Option Profile

[GVI Forex 2]

llOOK AT THE POICE ACTION AND SEE WHAT i MEANT BY What Does it Mean When a Currency Feels “Bid in an Offered Market?” SCROLL BELOW)

[GVI Forex 2]

EURUSD is still down on the day but getting support from some crosses… EURGBP, EURCHF

[GVI Forex 2]

DOLLAR IS UP VS ALL CURRENCIES ALTHOUGH IT MAY NOT FEEL THAT WAY DEPENDING ON WHICH ONE YOU ARE TRADING.

bIGGEST LOSER IS THE chf

[GVI Forex 2]

No change in FEd rate cut pricing after US data that was a touch softer

See our Economic CALENDAR

[Belgrade Bobby]

USDCHF Daily

Supports at 0.88750 & 0.88450

Resistances at 0.89150 , 0.89400 & 0.89750

That support line you see is a Clone – historical angles that are used when the pair is moving Up .

So it is only an indication of what might serve as a support.

Also, it is now wide enough to expect it to hold for awhile.

[Belgrade Bobby]

EURUSD 4h

Resistances 1.07400 & 1.07600

Supports 1.07100 & 1.06850

Pattern suggests fall to 1.06850 today , few bars waiting period and tomorrow morning attack at last support 1.06500.

That is what pattern suggests – now as lately every single  piece  of data can make a mess….

[Swiss Frank]

 

 

when or if?

[Swiss Frank]

SNB comes thru

– Recent meetings Jordan referenced the role a strong CHF plays in fighting inflation.

– Current meeting Inflation forecasts lowered, significant chf strength noted, current inflation pressures are domestic service driven, int rates lowered with room for another cut in Q3.

 

That said, against a backdrop of global tensions not going away anytime soon probably implies the CHf won’t run away to the downside but imo has room to walk in that direction, and favorite liability ccy play.

[GVI Forex 2]

NO SURPRISES FROM THE BOE BUT PRICE ACTION SUGEGSTS SOME TOOK IT DOVISH OR JUST A MATTER OF BUY THE RUMOR AND SELL THE FACT REACTION.

[GVI Forex 2]

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

Wall Street returns from its midweek break to find record high stocks still chomping at the bit, with overseas monetary easing in focus as the Swiss cut interest rates for the second time this year and the Bank of England decision now awaited.

Morning Bid: Stocks up as Swiss cut again, BoE eyed; yuan slides

[Mtl JP]

Gold 2338
Crude 85
Euro 1.0729

bla bla bla bla bla

Hezbollah leader threatens Cyprus as tensions with Israel ramp up Threat comes just a day after Israel warned the powerful Lebanese militant group that the prospect of “all-out war” was “getting very close.” cnn

Israeli Foreign Minister Israel Katz to warn of an “all-out war” in which “Hezbollah will be destroyed, and Lebanon severely beaten.”
“The enemy knows that no place in the entire (state) is safe from our missiles, and it won’t be arbitrary. Everything will be deliberately targeted,” Nasrallah

[GVI Forex 2]

USDCAD 4 HOUR CHART – BID IN AN OFFERED MARKET???

 

 

This is an example of a currency where the chart shows momentum ti the doiwnside but raises the question whether it is a case of feeling bid in an offered market?

A break of 1.3662-80, should it occyr (noit a forecast) would answer that question.

[GVI Forex 2]

test

[GVI Forex 2]

As I look at the price action in EURUSD it reminds me of this article in our blog, which is worth a read

What Does it Mean When a Currency Feels “Bid in an Offered Market?”

What Does it Mean When a Currency Feels “Bid in an Offered Market?”

[GVI Forex 2]

GBPUSD 4 HOUR CHART – WAITING FOR THE BOE

 

 

As we wait for the Bank of England decision, I pointed out minor and key levels on the chart.

When the dust settles after the decision, 1.27 will likely set its intra-day tone.

[Author]

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