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[GVI Forex 2]

USDX ONE-HOUR CHART – OFFERED IN A BID MARKET

I never used to pay attention to USDX until JP alerted me to its use.

With EURUSD  representing 57.6% of the USDX, it can be used as a semi-proxy for the EURUSD.

In this case, USDX has backed off its high but EURUSD has so far been stymied by 1.0650 after bouncing from an invisible hand protecting 1.06. A more significant resistance area is at 1.0660-65.

[Belgrade Bobby]

EURUSD 4h Intraday outlook

The base is formed for try outs to the Upper levels of the Daily Downtrend.

Targets to watch out for are 1.06700 & 1.07200 – all depends on time-space development.

Supports are at 1.06300 & 1.06050

By the pattern that is forming, it is unlikely to see downward follow through right now.

It is more of a possibility to watch Upticks for a day or two.

So base your small time frames trades accordingly .

With no serious data ( except for US Initial Jobless Claims tomorrow ), there is a calm till Friday.

Check out Economic Calendar

[GVI Forex 2]

It was becoming obvious (see my posts from yesterday before he spoke) that Powell was going to backtrack on rate cuts.

[GVI Forex 2]

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

There’s no doubt there’s a doubt about any U.S. interest rate cuts this year.

After weeks of market trepidation about stalling U.S. disinflation amid still-brisk economic growth, Federal Reserve top brass are making clear that this year’s rate cut plans are on ice until further notice.

Morning Bid: Blunt Powell signals rate cut plans on ice

[Mtl JP]

hey jerome … still not commenting on politics ?
–
“Biden wants to triple China tariffs on steel, aluminum imports” – cnbc

[Mtl JP]

I have not checked Jared Malsin and Benoit Faucon affiliations / biases so fwiw
this is what they write in WSJ this morning:
–
Emboldened Iran Makes Dangerous Gamble on Open Confrontation
Iran and Israel stand on the brink of an escalatory cycle of violence after Tehran’s attack showed its shift away from accommodation with the West.

[GVI Forex 2]

USDCAD ONE HOUR CHART — MAKE OR BREAK TIME?

With USDCAD’s 2023 high at 1.3899 looming above, it would seem we are approaching a make-or-break time for this major move higher.

What I mean is in this current run to the upside it would have to take out 1.3899 to put the move up into higher gear targeting 1.3975

Looking at this chart, expect support as long as it trades above 1.3774, stronger bid if 1,38 holds.

[GVI Forex 2]

XAUUSD 1 HOUR CHART – BID BUT STILL CONSOLIDATING BELOW RECORD HIGH

XAUUSD trading with a bid while above 2362 but would need to take out 2398 (suggests 2400 as well) to put the record high in play again.

Should 2398 be broken then 2372 would move up as the key support

[GVI Forex 2]

GBPUSD 1 HOUR CHART – 1.24-1.25?

GBPUSD is an outperformer today after CPI data (see our economic calendar) but the onus is on the bull side to take out 1.25 or remain mired in a 1.24-1.25 range.

Looking at this chart, the 1.2471 area would need to hold to keep a focus on 1.25.

[Mtl JP]

betting concideration
before or after:
–
Passover begins before sundown on Monday, April 22, 2024, and ends after nightfall on April 30, 2024

[Mtl JP]

FLIPOFF to BIDEN ?
–
APRIL 17 UPDATED 51SEC AGO
After meeting Herzog, UK’s Cameron says it’s clear Israel will respond to Iran attack – timesofisrael

“It’s clear the Israelis are making a decision to act,” Cameron, who was speaking to reporters in Israel, says. “We hope they do so in a way that does as little to escalate this as possible.”

[Mtl JP]

post-jerome getting relligion about FED’s quest to 2% inflation rate

US 10-YR 4.651%
DLRx 105.95 – inside yesty’s narrow day range

it would appear players are waiting for geezooss to walk in over the water (without sinking)

[Belgrade Knez]

April 16, 2024 at 5:28 pm
Mtl JP

hey GV
why can’t
the timestamp
be GMT or ET instead on central Kazakhstan ?

———————————————————-

current time listed is GMT but it was better when it was London time….. anyway, who cares about time of the post

[GVI Forex 2]

I doubt Japan would openly intervene during the World Bank/IMF meetings but this doesn’t mean it is not acting behind the scenes to keep USDJPY from zooming through 155.

[GVI Forex 2]

BTC 4-HOUR CHART

 

Treating this as consolidation as long as it trades within 60000-70000 with key levels posted on this chart.

[GVI Forex 2]

April 17 (Reuters) – A look at the day ahead in Asian markets.

Investors in Asia hoping for some relief from surging, opens new tab U.S. bond yields and a rampant dollar would have been deflated by remarks on Tuesday from Federal Reserve Chair Jerome Powell, and will likely go into Wednesday’s trading with their guard up.

Morning bid: Powell dashes easing hopes, markets dented again

[Mtl JP]

oohhh well…
–
FEDERAL RESERVE
Fed Chair Powell says there has been a ‘lack of further progress’ this year on inflation – Jeff Cox

– Fed Chair Jerome Powell said the U.S. economy has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon.

– “The recent data have clearly not given us greater confidence, and instead indicate that it’s likely to take longer than expected to achieve that confidence,” he said during a central banking forum.

plenty folks were commenting that “the last” mile to FED’s 2% inflation target would be like giving birth to a 12-pounder.

So the chief is the last guy to come to reflect on that distinct reality.

Bottom Line
– is that players have to game the FED’s game next.

[SF Monedge]

On the short side of EurChf all morning but notnig EurGbp showing signs of stabilization so seller profile is less robust

[SF Monedge]

On the short side of AudCad a bit ago.

[michael Calif]

June USD futures should begin to stall out near 106.50, per Option Profile

[Author]

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