EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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longer term euro will test the lows again end of q3
this is the biggest contrarian indicator on this site
- go long euro guys
:-)
another reason is a heavy selloff of CHF.
There are now not any safe havens left thus it gets erratic with false breaks and panic moves.
Shorts on Euro beware
Consider that there is no "Big Bang" that cause this Euro move.
No trillion dollar bailout, no rescue package, no intervention by the FEDs or the ECB to speak of.
that makes it, in my view, all the mote interesting.
The driver is US job numbers and review of growth expectations for the US
There is no doubt about Europe - all it takes is one populist government in the Eurozone to say we want OUT.
However, the US dollar has been rising solely on the basis of growth expectations - Me and my money want to be in the US since the growth is there - but no growth in GDP AND no growth in jobs AND regining in the deficit as well - thats the recipe that readily invites the Bernanke led FED to consider technical monetary easing via increasing its balance sheet - this is very much Japan in the mid nineties
I would ask another one - is it a technical move in the Dollar or a fundamental move?
Lets who can answer that one?
Been a busy day here moving home, again I wont get much action as I am out again. Not back on desk completely till Monday. But do look out boys only really worse number for NFP will take Euro higher conversely a weaker gain may only get back down to 1.2280 and again short range and volatility may come back in play. And if its just small loss in job then forget 128 for now and just settle for 1.2698 and I hope to see some early signs over selling or a convergence short ranged.
Looks like traders got no clue at all where the markets headed but again its taking no prisoners. Traders throwing every thing they got in form of capital back on the markets, nice size volumes seen today. Option traders watch out, that Dollar is doom. Euro almost seeing demand back of number from around Jan this year. Keep VIX and COT Chart in mind........ I'd love to hear what Ashraf had to say about the ever so conflicted USDx 85 brokered today just before the close, will this go south now or you still on for 91.