[GVI Forex]

We have a wealth of information in our blog and this is one of those articles which helps explain some of the price action, especially in equities and earler in USDJPY today.

What is a Liquidating Market and How to Trade It?

What is a Liquidating Market and How to Trade It?

[GVI Forex]

NAS and S&P extending declines… but Russell is up sharply… suggests some rotation with Russell benefiting from lower US yields

[SF Monedge]

Here comes the selling look to pick up Euro around 0875 futures (0850ish spot)

[SF Monedge]

Again, not tooting my/our horn, because frankly Jay who runs GVI is the one to listen to most, but … in case you missed it about a week or so ago, Michael (who I know a bit) and I called the Euro bottom (I filled one pip from the low) and everyone thought we were nuts going long.  Its possible we are worth paying attention to.  The volatility this morning is my kind of market, I get bored waiting for a 3 pip run that takes 10 hours, fast break is my game on the basketball court.  Agree with Jay, hard to make a case for long US dollar today.

[GVI Forex]

US500 CHART – WATCH THE TRENDLINE

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To suggest a further retracement risk, the 1 hiur trendlkine and 5585 would need to be taken out.

Note on a 4 hour chart, the trendline has been nicjed and support is at 5575 below it.

[GVI Forex]

It is hard to make a case for the dollar as long as the US 10-year stays below 4.20%

Intra-day

EURUSD support 1.0868, keeps a bid while above 1.0850
GBPUSD support 1.2904 but 1.2893 is more important
USDJPY resistance 158.96 but 159.20 is more importqant

[SF Monedge]

Active this morning.  If Aussie sees 6810 hold from the 6780 bid we should see 6830 at least.

[SF Monedge]

Same as Euro with Aussie 6780-90 bid

[GVI Forex]

NAS100 1 HOUR -Profit-taking?

Move off another record high (20772) would need to trade below 20482 and then 20345-89 to suggest a risk of a further retracement.

[SF Monedge]

0860-70 zone is decent R/R for hitting the bid for resumed upside with the 2yr settling as thought earlier.  If the bias switches to risk off in Euro you can forgive yourself if longs don’t work out due to the decent R/r which is perfectly logical.  Already in from a bit lower…

[Robinson Izuchukwu]

CPI News today is wonderful, thanks Bobby for always sharing your setup on Facebook and thanks for your guidance in the Trading Club.

[GVI Forex]

A little deja vu as this is the volatility we used to see in the forex market on a daily basis… although USDJPY is trading more like a video game

If you are looking for a range, 158.96-157.90 occurred in a one minute candle. 159.20 is an AT resistance.

[SF Monedge]

Yen pairs did the exact opposite of everything else on the data and I’ve been aggressively selling EurJpy with quick trades on pull ups.  Now we see if those pairs join the risk on tone.  US 2yr note is firmly bid from 102’10 so that is a good spot to consider some positions if it gets there.  The market will ordinarily test the starting point roughly, hence the pullback occurring.

[SF Monedge]

Not tooting my horn just pointing out that this transpired and nothing post-CPI has changed this dynamic –

(posted yesterday early US session)

Internals showing AudJpy wants to go over the figure, time will tell.  Interestingly the sell cycle in Sterling remains intact but internals are a scorching bid, so either Sterling breaks uphill strongly today or tomorrow and establishes a new buy cycle with higher full figure prints targeting 2900 + or continues to decline toward 2780.  Perhaps consider the offer around 2900/10.

[GVI Forex]

USDJPY trendline broken…watch the close vs it

[GVI Forex]

USDJPY DAILY CHART – Trendline

USDJPY finally correlating with US yielkds if you call a freefall correlation

Key level is the major trendline at 157.84

[GVI Forex]

USDJPY in freefall.. smells like BoJ but could well be someone bailing out of a short JPY positioin as US yields fall sharply

[GVI Forex]

Softer CPI – reaction

Lower jobless claims – ignored

See our Economic Calendar

[Belgrade Bobby]

I don’t trade Data, I don’t pay much attention to them, but seems as Data follows what I write 😀

[GVI Forex]

US CPI (and weekly jobless claims)

Let’s keep it simple

Watch the core y/y rate

Watch 10 year 4.30% as sort of a yield pivot

Watch EURUSD 1.0850 as it will ulimately set the tone

It would take a lot to change expectations of 2 rate cuts this year, first on in Sept

[Author]

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