Contact us

[Mtl JP]

connected ?
–
Jamie Dimon believes U.S. debt is the ‘most predictable crisis’ in history—and experts say it could cost Americans their homes, spending power, and national security – Fortune 11/02/2024

12:10 PM Fed’s Daly: “Navigating Geopolitical Turbulence and Domestic Uncertainty”

[SF Monedge]

Knez – gtwo3.com

[SF Monedge]

I think Eur/Jpy is targetng 162.20 (long term balance point in our model which is repeatedly visited).  Perhaps not today but so far so good.

[Mtl JP]

DLRx 104.22 / Euro 1.0772

bonds definitely driving.

sidenote: that euro is upiddy makes me chuckle in light of earlier ECB yakker yakkings about june start of easing. hahaha

[SF Monedge]

Hi Knex…very skilled position oriented private futures outfit been at it 30 years

[Belgrade Knez]

SF Monedge

who are GTWO3?

 

[SF Monedge]

Our friends @GTWO3 remain of the opinion that March futures are bullish under 1.0750, as price decline from 12/28 high is longs liquidating, not new sellers

[Belgrade Knez]

good data not enough to keep dollar in an up direction

[Mtl JP]

DLRx 104.26 / 10-yr 4.2950

EURO 1.0769
in the s/t puppy s still in bull mode
especially IF it closes N of 1.0785

Sup 1.07

[Belgrade Bobby]

EURUSD 1.07200 is still The key that needs to be taken to unlock the continuation of the downtrend….

[GVI Forex 2]

Hotter PPI

Follow bond yields

[Belgrade Bobby]

Well, The data solved it all…for now….let’s see how we end up the day…

[Swiss Frank]

EUR: It’s bid on the crosses and offered against the usd. Cross plays are slightly winning for the time being….

[Belgrade Bobby]

EURUSD – looking at the chart bellow, and in my own station, I have to admit that time wise – Rule of Thumb –  there is a chance for the pair to break Up and change two months old trend ( Daily chart)

I am pretty sure that the solution will present itself after today’s data.

But what I also see is the fact that on the Monthly chart, the pattern suggests  that we are in the early stages of a New Downtrend creation, that if comes through will open the road for as low as 0.75 area…Lots , I know…

Of course this is not helping in our daily trades, but just wanted to shine some light on the issue.

What I know for sure ( from the experience ) is that we can break above that downtrend line, even spend some time above 1.08 , but if that happens , 1.09450 will come up as a next level for unloading the EUR….and then we’ll all see clear downtrend forming .

[GVI Forex 2]

EURUSD: Bid or Bid in an offered?

Daily chart

1.0789 = 100 day mva (light green)

1.0805 = top of last leg down also a daily trendline’

1.0824 = 200 day mva (yellow)

Support 1.0755-60

Key support 1.0723

[Mtl JP]

heading into NY session
–
US 10-YR 4.261% +0.021 / DLRx 104.14 lets call it “soft” / euro 107.80 edging uP

[GVI Forex 2]

Focus on US Data next

PPI
Housing Starts
Univ of Mich Consumer Sentiment (and inflation expectations)
Fed officials speaking

See our Economic Calendar

[Swiss Frank]

To add a few more lines to the picture usd/cad looks like range. Trapped between the upward sloping trendline as resistance and the 200 period mov avg (the yellow line) which it seems to show a good degree of respect for. The upward sloping nature of everything leaves me biased towards upside. Until it’s not (below yellow line)…

[Forex Cycle]

USDCAD Swings Lower: Range Trading or Downtrend Resumption?

USDCAD has experienced some volatility recently, breaking above resistance, pulling back, and now testing support. Let’s analyze the technicals to understand what this means for the pair’s near-term direction.

From Breakout to Range Trading?

Resistance Breached: USDCAD initially broke above the key resistance level of 1.3543, suggesting potential upside.
Pullback and Support Test: However, the pair has since pulled back and broken below the 1.3510 support level.
Range Trading Possibility: This price action suggests a potential range trading scenario between 1.3358 and 1.3585.

Further Downside or Bounce in Sight?

Next Support Level: If the downtrend continues, the next potential support level to watch is 1.3412.
Breakdown Implications: A breakdown below 1.3412 could signal a resumption of the downtrend from 1.3176, with targets at the key support of 1.3358 and potentially even lower at 1.3300 and 1.3176.

Hope for Upside Rebound?

Initial Resistance: If the sellers lose momentum and buyers step in, the initial hurdle to overcome is the 1.3520 resistance level.
Upside Potential: Reclaiming this level could trigger a retest of the previous resistance at 1.3585.
Overall Sentiment

The technical picture is mixed for USDCAD. While the breakdown below 1.3510 suggests potential downside, the possibility of range trading within a defined range cannot be ruled out. Monitoring the price action around the mentioned support and resistance levels will be crucial to confirm the pair’s next move.

Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please conduct your own research before making any trading decisions.

[Mtl JP]

truthful profile
–
IF you could have or be only one: truthful OR honest
which would you take ?

[Author]

Posts