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There has not been a lot of attention on the German elections but with the vote scheduled for Sunday, let’s take a closer look by asking the followung question
Does the German Elections Matter?
NAS100 4 HOUR CHART – Failure for now?
The failure to retest the record 22225 has raised a risk oif a retracement as long as it trades below 22134.
Keep in mind that betting on retracements following through has been painful so keep an eye on 22000 as this level will dictate whether retracement pressures can build.
The negative reaction to Walmart’s Guidabce Warning is a sign the risk has turned two-soded.
XAUUSD – Gold
New day – new high – and again just marginally higher.
To explain about these marginally higher highs – what it means?
It means that there are no stops above it – once there are no stops ( orders) interest to move higher is fading .
Without some serious news/fundamental reason it is now going to be very difficult to push it further Up.
Once stops are placed below 2.900 , it is going to become very interesting to start bidding lower….
Then it is going to be interesting – is Support at 2.870 going to hold, or deeper correction will be on cards.
BTCUSD – Daily
Resistances: 98.895, 100.200 & 102.600
Supports: 96.300, 93.300 & 89.450
Carefully with expectations – this is sideways and will be until some levels are broken.
It looks like the creation of a Bull formation, but it is not yet formed – this can turn sour in a day – so wait till you really see it happening.
US500 4 HOUR CHART Retracement risk or not
Retreat from the new record high at 6144 would need to establish below 6094 and then break .6080 to raise the risk of a more serious retracement.
Thoughts of 6144, however, are set aside unless 6133+ trades.
Catalyst for the dell-off was Walmart’s Guidabce Warning
With EURUSD back to 1.05, I scanned the news for any headlines. The only one I came up with was this one from earlier
Source: Newsquawk.com
