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[GVI Forex 2]

BTC DAILY CHART – Trapped for now

Nothing to get excited about as BTC continues in a choppy range that would need to move outside 60k-70k to suggest a run at key levels.

Current range is 65k-70k

[GVI Forex 2]

US 10-YEAR TREASURY DAILY CHART (CFD)

You can see by this chart why the 4.50%ish area is important as it coincides with the low price for the month (higher yields = lower price and vice versa).

So keep an eye on US yields and whether the FX market starts to correlate (e.g. higher yields, firmer USD).

[michael Calif]

Option Profile remains LONG 10yr futures, expecting higher prices (lower yields)

[SF Monedge]

More upset millennials who thought they would “fix” the world and prove to older people they are smarter.  The Meme-Crypto Normie is a dead duck due to being hacked and was annihilated by 90% loss, while the hacker is demanding ransom.  Crypto “assets” have been touted since day 1 as being “impervious to fraud” by enthusiasts.

Monedge has maintained that Crypto has a long way to go before being viable as it is the most sought vehicle for mob money and other criminal activity.  Give it a year or so.

[GVI Forex 2]

Watch the US 10-year bond yield …. approaching the stubborn 4.50%…last 4.498%

[SF Monedge]

There are conditions pointing to Euro stalling around 0880 I believe.

[GVI Forex 2]

The conspiracy theorist says the CB data was leaked judging by the orice action beforehand.

[GVI Forex 2]

CB Consumer Confidence misses on the upside (stronger)

See our Economic Calendar

[Mtl JP]

EURO 1.0861

expecting 1.0850 now , possibly bit lower

[GVI Forex 2]

EURUSD passed below 1.0895
GBPUSD paused below 1.28
USDJPY paused above 156.50
US stocks opening lower
US bond yields ticking up

US CB Cons Conf up next

[SF Monedge]

If not already, and looking for an intra-day idea, Aussie appears a good long entry about 10pips below current market.

[GVI Forex 2]

USDJPY backing off in line with a generally softer USD. The bottom of a minor range is around 156.50, below it there are several layers of support through 155.99. This time it is EURUSD that is lagging (note EUR crosses)

[SF Monedge]

2yr Note is cycling up intra-day, it does not matter to me what I think it will do, that is what it is doing right now.

[SF Monedge]

It looks like Dxy 104.25 could be seen today, selling cycle overall since Asia.  Would require something of substance to change that one would think.

[GVI Forex 2]

XAUUSD 4 HOUR CHART – POWER OF 50?

While XAUUSD has bounced after failing to reach 2300, it would need to regain 2370 to suggest the low might be in for now.

Meanwhile. it looks like the 2350 level is back in play as the intra-day bias setter.

SUGGESTED READING: My Favorite Trading Secret: The Power of the “50” Level

[GVI Forex 2]

For those who celebrated a 3-day weekend, it is Tuesday but feels like a Monday.

[GVI Forex 2]

GBPUSD DAILY CHART – 1.28?

I posted a 4-hour GBPUSD chart earlier (scroll down to see levels) hat showed it lagging but has since shrugged that off (note EURGBP has dipped vs, an earlier bounce).

The daily chart, meanwhile, continues to show upside targets but 1.28 is one of those pivotal, some say psychological, other say options barrier levels that are so far causing a pause.

The key time on this chart is next month when support and the key trendline intersect.

[GVI Forex 2]

USDX 4 HOUR CHATRT – EURUSD PROXY

As I have been noting USDX often acts as a EURUSD proxy. .

Looking at this chart and a EURUSD chart, should 1.0895 be broken, a USDX break of 104.11 would be needed to confirm

[GVI Forex 2]

Surgetrader, once considered one of the better-run firms in the prop trading industry, has closed its doors. This is another blow to an industry that has seen several prop trading firms cease operations.

Another One Bites the Dust: Surgetrader Shuts its Doors

Another One Bites the Dust: Surgetrader Shuts its Doors

[GVI Forex 2]

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

Wall Street looks set for a sleepy but positive start to a shortened week after Monday’s Memorial Day break, with the consumer back in focus in May updates later today.

Morning Bid: Post-break Wall Street stays pumped up

[Author]

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