While there are similarities in this 1.35-1.40 range, it is too early to tell if we see a repeat of 1.40-1.45 but there are some similar characteristics worth noting that puts me on guard for dj vu. For this reason, you need to watch 1.35-1.36, which has so far seen demand appear below 1.36 in 5 of the last 7 sessions (invisible hand?).
Note, this is not a bullish view as technicals and fundamentals point to a downside risk but recognition of a pattern that has unfolded over the past 1+ week. A firm break of 1.3495 would be needed to end thoughts of deja vu.
I walked in this morning and asked myself why eurusd is not heading for 1.30 enroute to 1.20 given the steady diet of negative news. This led me to ask myself, has the frustrating eurusd 1.40-1.45 range, which essentially contained this pair for months before a breakdown less than two weeks ago, been replaced by 1.35-1.40?
When eurusd traded 1.40-1.45, the risk was seen on the downside but repeated attempts to decisively take out the bottom of the range were met with what I call an invisible hand. This invisible hand demand for euros led to a squeeze that forced those betting on a breakout to run for cover on more than one occasion.
In a shocking representation of just how bad things are in Europe, the FT reports that major European industrial concern Siemens, pulled 500 million form a large French bank, which is not BNP and leaves just [SocGen-Credit Agricole] and deposited the money straight to the ECB.
The implications of this are beyond stunning, as it means that even European companies now refuse to work directly with their own banks, and somehow the ECB has become a direct lender of only resort to private non-financial institutions
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(1 year ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(1 year ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(1 year ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (1 year ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (1 year ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (1 year ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(1 year ago)
Nasdaq100 Update
Since entering Nasdaq100 Longs on Monday at 18550, we kept accumulating and locking gains until 19230 yesterday and 19380 today.
View Hot-Chart..
Note, this is not a bullish view as technicals and fundamentals point to a downside risk but recognition of a pattern that has unfolded over the past 1+ week. A firm break of 1.3495 would be needed to end thoughts of deja vu.
When eurusd traded 1.40-1.45, the risk was seen on the downside but repeated attempts to decisively take out the bottom of the range were met with what I call an invisible hand. This invisible hand demand for euros led to a squeeze that forced those betting on a breakout to run for cover on more than one occasion.
S&P downgrades italy
The implications of this are beyond stunning, as it means that even European companies now refuse to work directly with their own banks, and somehow the ECB has become a direct lender of only resort to private non-financial institutions
shyt hit de fan in europeans saloons ceilings
8hr look long
back to the tunnel ,