EURUSD 1.2045 |
USDJPY 106.71 |
GBPUSD 1.3911 |
AUDUSD 0.7740 |
USDCAD 1.2671 |
GBPJPY 148.46 |
EURJPY 128.54 |
AUDJPY 82.60 |
CADJPY 84.20 |
Silver 26.88 |
Friday's plunge in yields was just as notable as the preceding gains. As Fed chair Powell gears to speak next Thursday about the economy, here are the things im watching: 1) favourite of mine involving an overlay of HUI gold miners, suggesting major developments in XAUUSD (i will share these with the WBG next week); 2) The same applies to the Gold/SPX ratio, showing similar technical positives to the patterns of 2001, until support gave up these past two weeks. 3) Friday's candles in 2 and 10 year yields suggest neutral-negative moves early in the week, but it is the midweek-Thursday that Im concerned about. 4) USDJPY knived through its 200-DMA and its 55-WMA, calling for 107.20 as a short-term target. Our WhatsApp Broadcast Group entered this pair back in 104.60s. 5) Those who trade indices have seen the balant manner in which the jump in yields and oil boosted the DOW30, before their sharp Friday pullback dragged down the index, while supporting NASDAQ. We were active throughout the week with our WhatsApp Broadcast Group (WBG), sharing trades/analysis on DOW30, Nasdaq, XAUUSD, USDJPY, EURUSD and GBPUSD. Tune in for more next week. This is far from over.
Analog of USDJPY Net Longs Breakdown
The prolonged ascent in USDJPY remains fortified by the technical breakdown in net JPY futures longs (inversely related with USDJPY pair) shown in this striking analog from Q4 2016.
View Hot-Chart..
1. GBP/USD struggles to hold onto recovery profits beyond the 1.3000 mark.
2. December 23 low stays on the bears’ radar whereas December 31 pinnacle will assignment the customers throughout upside.
GBP/USD trades close to 1.3000 by the clicking time of Tuesday’s Asian session. In doing so, the pair stays inside the month-to-month falling fashion channel at the same time as also remaining below 200-bar SMA.
With this, sellers preserve eyes on December 23 low, close to 1.2900, as close to-time period key support throughout further declines.
In a case in which GBP/USD expenses stay weak underneath 1.2900, November 22 bottom around 1.2820 ought to go back to the chart.
On the upside, 61.8% Fibonacci retracement of the pair’s rise from November 22 to December 12, at 1.3086, can offer immediate resistance in advance of the stated channel’s top line and 200-bar SMA confluence near 1.3100/05.
If buyers manage to go 1.3105, 50% Fibonacci retracement level close to 1.3170 can offer intermediate halt previous to fuelling the pair in the direction of the excessive marked at the stop of 2019, at 1.3285.
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1. GBP/USD struggles to hold onto recovery profits beyond the 1.3000 mark.
2. December 23 low stays on the bears’ radar whereas December 31 pinnacle will assignment the customers throughout upside.
GBP/USD trades close to 1.3000 by the clicking time of Tuesday’s Asian session. In doing so, the pair stays inside the month-to-month falling fashion channel at the same time as also remaining below 200-bar SMA.
With this, sellers preserve eyes on December 23 low, close to 1.2900, as close to-time period key support throughout further declines.
In a case in which GBP/USD expenses stay weak underneath 1.2900, November 22 bottom around 1.2820 ought to go back to the chart.
On the upside, 61.8% Fibonacci retracement of the pair’s rise from November 22 to December 12, at 1.3086, can offer immediate resistance in advance of the stated channel’s top line and 200-bar SMA confluence near 1.3100/05.
If buyers manage to go 1.3105, 50% Fibonacci retracement level close to 1.3170 can offer intermediate halt previous to fuelling the pair in the direction of the excessive marked at the stop of 2019, at 1.3285.
Forex Signals
If you’re thinking about becoming a Forex trader then you’ll probably be looking for an accurate Forex signals provider.
Hot Forex Signalshttp://www.hotforexsignal.com/) is the best accurate Forex signals service provider.
Ashraf
As just one example today the US stocks are up huge, and the Pound down. This strong correlation that was develping with the Pound and US stocks for awhile has had to deal with various UK domestic headlines that can pull it in all kinds of directions.
Where do you think the bears return?