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[GVI Forex 2]

BTC 4 HOUR CHART – FOCUS ON 65000

i POSTED THIS LATE YESTERDAY AND THERE IS NO CHANGE TI THE WAY i LOOK AT THIS CRYPTO

Technical traders may like this but I am not sure about how valid technical levels are in something that can move 5-10% in one day.

This is why I prefer to focus on psychological or what I call “magic” levels such as 60k,65k, and 70k.as well as the patterns formed on a chart

In this regard, 65000 is now a key level that needs to HOLD to put 70000 back on the radar.

[GVI Forex 2]

USDX DAILY CHART – PAUSED ABOVE KEY INTERSECTING LEVEL

The run to the downside paused above the key 103.93 level, both at a chart point and intersecting with the key trendline.

The significance of 103.93 is it is the last at LOW BEFORE THE HIGH AND THUS THE KEY LEVEL ON THIS CHART. A firm break would be needed to confirm the end of the USD uptrend.

On the upside, still bearish if it stays below 104.61.

Note EURUSD is 57.6% of the index.

[SF Monedge]

Fickle market a bit…done selling Euro, small pips only, back to long…

[Mtl JP]

Bobby 2:39 hahahaha
I may (not) have news for you: your cell phone me will likely be blind and IF you happen to have a landline your broker may be too busy to take your call as most access now is by way of chatbot

aaaahh but I think you know all of that

[GVI Forex 2]

GBPUSD 15 MINUTE CHART – Fading a correction illustration\

GBPUSD is an even better example. 8 green candles off after the correction of the broader uptrend found a bottom.

I call it a slow grIND as it is not running into any stops with the high still somewhat distant.

[SF Monedge]

Internals in stocks are flatlining, so either stcks and euro pop or drop soon, I may entertain the short side.  All the shorts from last night went fine.

[GVI Forex 2]

I hope you found my tip on fading corrections helpful.

Note, EURUSD for example, failed just above the 1.0840 (and 50%) level. Then there was more difficulty absorbing buying and it has been in a slow climb since BUT that would only have legs if the high of the day is taken out.

[GVI Forex 2]

FOR THOSE WHO MISSED THIS OR WERE TO REMIND YOURSELF, IT IS WORTH READING

This is a really good tip to keep in mind,… Look at THE price action so far in the US session

Actionable Forex Trading Strategy When to Fade a Correction

Actionable Forex Trading Strategy When to PORICE Fade a Correction

[michael Calif]

Option Profile remains BEARISH NQ and SP500 futures, and considers this rally part of an extended TOP from Apr 1 highs …

[GVI Forex 2]

us30 one hour chart – djia texts 30000

RISK ON CONTINUES WITH US30 TESTING 40k

SOME SPILLOVER INTO OTHER MARKETS THAT WERE TRYING TO CORRECT EARLIER.

[Belgrade Bobby]

Mtl – good old fashioned way – drawing charts by hand and picking up the phone asking for a quote…and avoiding radioactive clouds in between…

[Mtl JP]

interesting …
“EXCLUSIVE (WSJ)
Russian Spacecraft Tested Components for Antisatellite Weapon, U.S. Says”
–
actually there is nothing new about this type of toys. they date back decades.

the only thing that might be new(s) is if anyone or all start to … biding badang each others’ satellites.

my Q is … how would I manage my trades , eh ?

[Mtl JP]

10-yr Yield | 9:59 AM EDT 4.369%
still stinks
–
If neel k wanted my nickle’s worth: the FED’s monetary policy is nowhere near exerting downward pressure on the economy.

I d still inform him that it is NOT an unknown and that he should get in line with his chairman’s “higher for longer”. ditto for williams.

I am currently bit perplexed what game these two suits are playing.

[Mtl JP]

Sam had THE pulse of the market earlier today:

U.S. inflation data fuels bets of Fed rate cuts as early as September — but analysts aren’t convinced – cnbc

[GVI Forex 2]

XAUUSD 4 HOUR CHART

XAUUSD CAME CLOSE TO 2400 BUT HAS BACKED AWAT. MAJOR LEVEL REMAINS ABOVE 2400.

RISJ IS STILL POINTED UP AS LONG AS IT STAYS ABOVE 2351 (DOES THIS LEVEL, I.E. 2350, SOUND FAMILIAR> BUT ANYTHING OTHER THAN A BREAK OF 2430 KEEPS THE CURRENT RANGE.

[GVI Forex 2]

When a Wednesday feels like a Friday.

That’s what yesterday felt like and today feels like the Monday after with USD selling exhausting itself for now overnight.

[GVI Forex 2]

USDJPY 1 HOUR CHART – 155 REMAINS THE FOCUS

As I noted last night, the only level that matters to me is 155 as that will set the overall bias.

Weak Japanese GDP data seems to have been the catalyst for a move back above 155. To suggest more scope on the rebound, 155.50 would probably need to be cleared.

[GVI Forex 2]

EURUSD 15 MIN CHART – WAITING FOR US DATA

As markets wait for the next batch of US data here is a snapshot of the EURUSD

1.0866 double bottom’

Red arrows indicate the levels that need to be broken to break this retracement.
50% = 1.0851

See our Economic Calendar for consensus forecast

[Mtl JP]

dlr downtrend theme ?
williams helping ignite animal spirits:
–
Williams said April’s U.S. inflation data was a “positive” development after a string of disappointments and he said the overall price trend “looks reasonably good.”

“I try not to take too much signal from one month or two months and look at the broader context of of the inflation trends. So I do think it’s a kind of a positive development after a few months where the data were disappointing, but you don’t want to over emphasize any one month or another month reading,” Williams said…

[GVI Forex 2]

6 May 2024 – A look at the day ahead in U.S. and global markets from Mike Dolan

World stocks (.MIWD000000PUS), opens new tab notched new records and the dollar (.DXY), opens new tab nursed its worst day of the year as fears of an overheating U.S. economy dissipate – stirring hopes that the coast is clearing for Federal Reserve easing at last.

Morning Bid: New highs hold as disinflation resumes, US cools

[Author]

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