[GVI Forex 2]

SEEING IS BELIEVING – THE POWER OF “50”

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[GVI Forex 2]

NAS100 UPDATE – NOTHING GOES UP FOREVER BUT…

Levels to watch: 20468 *new rec0rd_ – 20358 -20138

[Belgrade Bobby]

EURUSD Daily

Supports for tomorrow – 1.08150 , 1.07750 & 1.07600

Resistances – 1.08500/550 , 1.08950 & 1.09200

This is a Bullish formation and if it closes tonight above 1.08250 we should see at least attempt at 1.08950.

[SF Monedge]

Funding overdrafts – The level of daylight overdrafts — when a bank withdraws more money than it has in its account at the Fed.  They recently reached levels and behavior similar to pre-crash conditions of 2019.  A bit concerning, it should be noted that major banks also recently resoundingly passed stress tests which is an offset should shock conditions arise, either sudden or gradual.  Likely temporary.  Also, the two heavy factors of war and elections have not stopped the steady purchasing of US, Euro, and MSCI stocks.

I am fixated on July 15th as having the potential for either strong buying or a shift toward risk off, for a variety of reasons including that fund managers and the like will begin to return from early vacations.

[GVI Forex 2]

One of those Mondays…Here is my Power of 50 article as GBPUSD, EURUSD, AUDUSD and USDJPY all paused around or shy of respective 50 levels in what turned into a slow drip, paint drying session.

FWIW the softer GBPUSD tine appears toi be coning from EURGBP buying.

[SF Monedge]

R/R on UsdChf sell side is decent at current levels (8970-8980). You either get a good one or the entire dynamic changing to a long USD overall again which sticks increases.

[JMM USA]

GBPUSD giving back some gains – all majors are now +/- single digit changes as of this moment

[michael Calif]

current wave sequence suggesting short pullback EURUSD    :gtwo3

[GVI Forex 2]

EURJPY UPDATE – TOPPING OUT OR A PAUSE?

[GVI Forex 2]

GBPUSD UPDATE – KEY LEVELS ON THE RADAR

[GVI Forex 2]

USDJPY 4 HOUR CHART – IS A TOP IN? KEY LEVELS CITED

[SF Monedge]

Most metrics in my view show moderate risk on environment starting the week, but moderate so subject to lack of conviction in spots.

[GVI Forex 2]

Opening Week Gap (Part 2)

To further illustrate, there was another opening week gap in EURUSD, this time on the downside.

Odds favored the gap being filled given the positive technical picture in this currency.

EURUSD FILLS THE GAP AGAIN!

 

[GVI Forex 2]

EURUSD above 1.08 suggests fallout from the French vote is limited for now.

Whatever the case logic says USD should have a limited upside ahead of Powell’s testimony tomorrow.

[GVI Forex 2]

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

Wall St stocks start the week surfing new records into another earnings season and Federal Reserve testimony, while surprise French election results saw the country’s left-wing thwart Marine Le Pen’s far right and leave a hung parliament there.

Morning Bid: Stocks surfing new highs, French surprise

[GVI Forex 2]

BTC 4 HOUR CHART – KEY LEVELS CITED

 

[JMM USA]

AUDUSD 4 HOUR CHART – STILL BULLISH

AUDUSD finds support by being the onky major CB with talk oif potential rate hikes rather than rate cuts.

As I noited,  I had to go to the weekly to find the next key target, which is not until nearly .6900.

In the sbsencde of key resistance, the new level to watch is .6761 high.

Expect support as long as it trades aboive .6710.

 

[GVI Forex 2]

XAUUSD 4 HOUR CHART – CONSOLIDATING

 

While technical have turned positive, a case can be made for 2300-235-2400 range unless the ntop end is taken out, which would expose the major record high.

Otherwise =, consolidating with support but a limited upside unless 2393-2400 is taken out.

[Belgrade Bobby]

EURUSD 1H

Supports : 1.08200 , 1.08000 % 1.07650

Resistances : 1.08450/500 , 1.09400 & 1.09850

Looks as hanging down, but it all now depends on 1.08200 support – if it holds, more attempts for Higher are in the game.

[GVI Forex 2]

EURGBP 4 HOUR CHART – ELECTION  CONTRAST

One restraint on the EURUSD upside has been a weaker EURGBP as markets look at political stability in the UK vs political instability in France.

EURGBP would need to break .8429 to pout the key .8397 in play.

Otherwise, look for .8450 to set its tone.

[Author]

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