GVI Trading Room john 12:21 GMT 05/20/2016
Looking at the hourly chart in EURUSD, what jumped out at me was Jay's levels. 1.1230 is is serious resistance (= decent stops?), then previous support at 1.1255 (Resistance).
A test of 1.1230 looks likely, then 1.1250 (55) could prove very hard to push through absent news.
I cited the 1.1204 pivot as key to the tone today. you can use 1.1200 as key. I am taking my lead from stocks. Weak stocks = higher EURUSD and vice-versa.
Mtl JP 13:06:21 GMT - 05/20/2016
14:00 A US Existing Homes
risk rating "A" to my account likely mis-rated on the too high side as it is unlikely to reaction-move prices 50+ pips
Mtl JP 12:56:26 GMT - 05/20/2016
Gold could be a snipers delight. It is Friday and cretins' yak, for the short-term, has mostly been priced in so why not try to tease out some profits eh ?
Mtl JP 12:47:32 GMT - 05/20/2016
cretin Tartullo yaking at top of hour
expecting risk Z to my account from him
Mtl JP 12:44:38 GMT - 05/20/2016
not touching pound, too politicized and subject to polls about which I have absolutely no clue
kind of puppy that probably demands 200+pip sl slack if any
Mtl JP 12:32:47 GMT - 05/20/2016
- still BoD bias
tokyo joyya 12:29:06 GMT - 05/20/2016
Mtl JP 12:21 GMT 05/20/2016
yes when such strong support taken 2000/2030 then it may go far away..
Mtl JP 12:21:14 GMT - 05/20/2016
Joy I suspect the snp downside is protected by some pretty powerful interests altho I can not prove it.
So far I am playing the 2044 line , next one such level might be the 200ma, if seen, seeing its technical and market psychology relevance.
In the meantime juice it fwiw and as long as it works.
tokyo joyya 12:14:22 GMT - 05/20/2016
Mtl JP 12:06 GMT 05/20/2016
so do you think its heading 1800 and below?TIA
Mtl JP 12:06:30 GMT - 05/20/2016
SnP ahead of NY session
GVI Trading Room john 10:54:47 GMT - 05/20/2016
US 1.859% -0.7bp
DE 0.180% +1.5
GB 1.448% +2.8
JP -0.096% -0.1
EUR Crosses higher; down vs. AUD
WTI $48.72 +0.05
GVI Trading Room john 10:04:22 GMT - 05/20/2016
20day 1.1369 -- out of range.
It will take a good while for it to fall to current spot levels.
Pivot 1.1204 - current spot above the pivot.
You can use the 1.1200 as your bias indicator today. It seems that the USD moves quickly to higher levels (lower EURUSD) and then struggles to move higher from there. Does it require a new stimulus from here?
Fed Funds Sentiment indicator remains USD positive. It seems to be saying that 1.1150 would be equilibrium.
Heading into the weekend, the USD is holding onto a positive tone. some are saying
that Fed determination to hike rates early as possible is a positive vote on the
economy, although Some have their doubts about growth. Rising U.S. interest rates
presumably will be an attraction for funds from overseas looking for better yields.
The economic calendar today is relatively light with Canadian data and U.S.
Existing Homes Sales awaited. The housing industry is a important source of employment.
Recently traders also have been keeping a close eye on equities.
N.Y. Fed President Dudley Thursday did a lot to clear the air about current
monetary policy. As one of the top three leaders, we assume that he was not speaking
for himself alone. Dudley said June 15 is "definitely a live meeting". His comments
were clear. A rate hike is on the table if upcoming data are not overly weak. Their
intention is to raise rates either in June or July, but are keeping all options open
John M.Bland MBA, CTA, co-founder global-View.com
London LB 07:52:28 GMT - 05/20/2016
From a bank report
Expecting choppy price action into the weekend as the market digests the Fed minutes
UK JY 07:25:45 GMT - 05/20/2016
Quiet here quiet market
Have you guys given up for tje week?
Chicago Bull 23:07:26 GMT - 05/19/2016
Any ideas for Friday?
dc CB 20:19:52 GMT - 05/19/2016
how many Retail Jobs is that?
dc CB 20:19:13 GMT - 05/19/2016
But the Gov said Retail.......
Gap Inc Q1 revenue $3.44Bn, Exp. $3.51Bn; Closing 75 stores
Comments by N.Y. Fed President Dudley Thursday did a lot to clear the air about current
monetary policy at the Fed. As one of the top three at the central bank, we have to assume that
he is not just speaking for himself. First of all Dudley reiterated that June 15 is "definitely
a live meeting".
He indicated, as others have, that thet markets have recently been underestimating the
probability of a policy tightening. Dudley said that he is quite pleased wtih the current
market June and July policy views. Odds on a June 15 hike are about 25%, and absent a June
tightening, odds are about 60% for a July 27 rate move.
Dudley's comments are clear. A rate hike is on the table if upcoming data are not overly
weak. Their intention is to raise rates either in June or July, but have kept all options open
by saying "if conditions warrant".
This gives the Fed cover to do nothing if economic data weaken substantially between nor
and then, if financial markets suddenly deteriorate, or if the Brexit issue beomes a source of
instabiity. They keep saying this decision is data-dependent and it clearly is. Nevertheless,
the "defauit setting" is to tighten.
The apparent Fed movement on policy has given the USD a strong bid vs. the EUR and JPY.
The GBP has been helped by better than expected data this week. The S&P has been trading heavy
due to uncertainty about how many rate hikes are in the pipeline. The yield on the 10-yr note
has risen this week on the same uncertainties. Traders will now been on data watch for the next
several weeks and likely beyond.
John M.Bland MBA, CTA, co-founder global-View.com
Actionable trading levels delivered LIVE to YOUR charts
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.
We were trading long before there were online brokers. Global-View
has been directly involved with the industry since its infancy. We've
seen everything and are up-to-data with recent regulatory changes.
The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.
The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.
Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.
The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.
Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.
Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.
Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.
WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.