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[Mtl JP]

NB – of all the yakkers only barkin and kugler are voters
if you think it means something

[Mtl JP]

Ahead of 10am fixing
and post-crappy retail sales incomings
–
DLRx is heading head first into the toilet
Euro at 1.0739 still searching for some phillip (to pop over 1.0750)

Deluge of FED yikkers yet to come:
10am barkin (on economy, on the FED)
11:40 collins
13:00 yellen peddles off 13 billion in 20yr paper
13:00 logan
13:00 kugler on economy & on mon policy
13:20 newbie musalen on economy & mon policy
14:00 goolsbee

Collectively in a sum-total players will be needing to come away with the impression that the yikkers tried to sound hawkish otherwise DLR will plunge

[Belgrade Bobby]

EURUSD 4h

Supports at : 1.07250 , 1.07150 & 1.06850

Resistances at : 1.07400 , 1.07550 & 1.07850

Close of this 4h bar above 1.07250 forms a pattern for Up move.

[GVI Forex 2]

Waiting for retail sales

See our Economic calendar

[Belgrade Knez]

as per the textbook on 4h chart, EU should test 1.0780 before new down move

 

[GVI Forex 2]

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

Tech-led Wall Street stocks have sailed to new records again this week, with Tuesday expected to see retail sales return to growth and as nervy European markets calmed for a second day.

Morning Bid: New highs as retail eyed, Europe calms

[Mtl JP]

DLRCHF 8881

Testing bottom 2nd time

[GVI Forex 2]

EURUSD 4 HOUR CHARTT – PAUSED BELOW 1.0745

 

 

The two red lines drawn off the low is an Amazing Trader Directional Indicator pattern that has signaled a potential change in direcdtion.

You can see how that worked out. coming close but pausing below the key 1.0745 blue resistancde line.

So, all we have now is consolidation with key levels highlighted on this chart.

I posted this yesterday…

In a politically driven market (French electio) a key is to identify when the market is trading on this upcoming event and when it is in the background.

This chart is clear —

Key levels are at the 1.0667 low (major levels 1.0649 and 1.0600) and 1.0745 (suggests limited upside unless 1.0750 trades, stronger bias if it stays below 1.0719

[GVI Forex 2]

USDJPY 4 HOUR CHART – WHERE IS THE BOJ?

 

 

USDJPY so fsr came within 2 pips of its 158.25 high. If broken, there is a void on charts until the 160.16  high. This should put traders on intervention alert but with bids likely lying in wait at lower levels

As I noted yesterday around this time’

If it wasn’t for the BoJ threat one could make a case for a run at 160.

But the threat is there above 158 so expecy caution if approached but support as long as it stays aboive 157, stronger if 157,50 becomes support

This suggests support as long as it trades above 157.50=00

Where is demand coming from?

I am not privy to the flows but firmer stocks and a firmer USDJPY suggest carry trades may be a source of JPY selling.

[GVI Forex 2]

RBA keeps rates unchanged, no hint of rate cut

More BoJ chatter but usdhpy testing 158+ again

French elections in background for now. French stocks open higher.

EURUSD bounce paused below 1.0745

US retail sales out later

[Mtl JP]

Filip De Mott
for Markets Insider. 

Trump’s plan to hike tariffs instead of raising taxes could cause the ‘mother of all stagflations,’ policymakers warn

Trump’s idea to replace the US income tax with tariffs notched criticism from two Treasury secretaries.
“This is a prescription for the mother of all stagflations,” Larry Summers told Bloomberg TV.
Secretary Janet Yellen said that it would make life unaffordable for Americans.

[Belgrade Bobby]

Nasdaq Composite: Flying on fumes?
The Nasdaq composite  IXIC has now seen five-straight record closing highs which is its longest such streak since an eight-day run of record closing highs from October 28 to November 8, 2021.

In any event, traders are on the edge, as despite the run of record highs, one has to ask himself : is this going to last ???

 

[Belgrade Bobby]

Market Chatter: Nvidia Set for Over 20% Weighting in SPFR ETF, Apple to Drop Significantly

[Belgrade Bobby]

USDJPY Daily

Supports at : 157.150 , 156.850 & 156.300

Resistances at : 158.400, 159.500 & 160.250

Direction is Up.

 

[Belgrade Bobby]

EURUSD 4h

Good bounce from the lows that targets resistances at :

1.07650 & 1.07900

Support at 1.07150

 

[Belgrade Bobby]

Tesla Inc – TSLA (NASDAQ)

Tesla held its ground today and pattern is emerging pointing Up on the Daily basis.

First target 200.00 , second 230.00

 

[Belgrade Bobby]

GME GameStop Corp ( NYSE)

Support at 23.80 held on the first call, but overall picture is pretty gloomy.

If lost, it will open a way for run to 10.00

 

[Mtl JP]

Fed continues to hang out the “cut” theme
not that they are stupid

Harker Says
– “One Rate Cut in 2024 Is Appropriate Based on Outlook”

the other mistake the FED’s are doing is trying to mislead players with their “outlook”

[GVI Forex 2]

XAUUSD 4 HOUR CHART – YAWN

 

Nothing to get excited in XAUUSD as it consolidates after a bounce off the l2285ow but would need to break 2341 to suggest more scope to the upside.

[GVI Forex 2]

NAS100 4 HOUR CHART – Another Record

 

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As I have been sayingm there is no reason to guess at a top until charts tell you to do so.

I highlihvted supports that need to hold keep the bid.

[Author]

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