[GVI Forex 2]

Q&A just started but it doesn’t look like any surprises will come from Powell.

[Robinson Izuchukwu]

I wonder if price will react over there, I’m looking to short EURUSD at 1.09181

[GVI Forex 2]

EURUSD 15 MINUTE CHART – Look at this candle

Look at this chart and the 15 minute candle. It will take awhile to settle into tradable patterns.

The double top is at 1.08285

[Mtl JP]

in other words … a long time
for him to … “unduly weaken economic activity and employment,”

[GVI Forex 2]

Powell’s term ends April 2026.

[GVI Forex 2]

Powell basically sticking to his status quo message.

10-year 4.302%

Watch the Q&A

[Mtl JP]

YES YES YES !!!
to new trading opportunities :
–
Jeff Cox:
Trump’s increasing election odds after debate already affecting financial markets
JUL 8 20241:32 PM EDTUPDATED 2 HOURS AGO – Jeff Cox on cnbc

[SF Monedge]

Canadian Dollar looks like it is gaining interest in futures/options/forwards/open interest/some TSX stocks so it looks like UsdCad (3638) is more tilted to the offer for the moment.  Everything hinges on Powell.

[SF Monedge]

Prior post is regarding Australian Dollar

[GVI Forex 2]

Markets moive when there is a surprise —

If I was Powell I would do nothing to change market expectations but would avoid fueling them further.

So surprise would be anything that veers from status quo.

[SF Monedge]

Some metrics including options, forwards, open interest etc are showing a solid bid at current levels.  That matches the larger bid cycle but it is against the grain of the recent closer in selling.  Market is looking bid further out, so the pair either likely fails and dumps today post-Powell or goes on another run up the hill.

[GVI Forex 2]

It looks like 10 year 4.30% is sort of a pivoit

Last 4.291% +0.023

[GVI Forex 2]

One school of thought is that Powell will try to walk a tightrope and maintain the status quo in his testimony.
‘
If so, then how markets spin his testimony will dictate the reaction. Typically it would try to spin it dovish.

[Belgrade Bobby]

Great David !

I like what I see on your chart –  simple and clean, one MA – I think it won’t be a problem for me to teach you . We’ll do some trend line drawings, combinations of MA’s, establishing entry/exit points and so on…I’ll prepare some material for tomorrow and you’ll find it in Trading Academy Discussion Board – don’t write there…it is just for me 😀 All the questions direct here…no matter how small or simple it might be, always ask!

[GVI Forex 2]

US 10 Year (CFD) – Price is inverted with yield

US yields ticking higher prices lower (4.301% +0.033) ahead of Powell when logic says they should be ticking lower on expectations of a dovish tilt

USD following but still a wait-and-see lull ahead of Powell.

[David Shepherd]

[GVI Forex 2]

I was also asked offline to show what a chart looks like when stops get run. See the Amazing Trader Classes for an illustration.

[GVI Forex 2]

I was asked to elaborate on what a chart looks like when stops can get run.

You have seen me say that the forex market lives to run stops.

So, the question is what does a chart look like when stops get run.
‘
See this video for an illustration.

[David Shepherd]

<p style=”text-align: left;”></p>

[Belgrade Bobby]

We’ll do it together. I am asking about charts as it is the main tool that we gonna use…We’ll show all of you different techniques and teach you how to survive in the forex

[Author]

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