[Forex Cycle]

USDCAD Technical Analysis: Key Levels and Potential Scenarios

USDCAD has recently breached below the critical support level of 1.3541 and is currently confronting the support provided by the ascending trend line on the 4-hour chart.

A successful breakthrough below the trend line support may initiate additional downward momentum, potentially leading to a test of the 1.3440 support level. Subsequent downside movement could target the 1.3360 area.

At present, the initial resistance is situated at 1.3550. Only a decisive break above this resistance level has the potential to trigger another upward movement, aiming to retest the previous high resistance at 1.3605.

[Mtl JP]

steven and his buddy otting got themselves a board seat
steven has 17yrs of GS’ genetic code virus infection, generally known for ruthless brutality

got me some popcorn

[SF Monedge]

JP – I have been waiting for something like this.  You bet he got the terms he wants or they will lose their pants and maybe more considering things those brass don’t want people to know.  His team isn’t entirely  dumb so there must be some potential for a turnaround ala corporate raider style but salvaging the ship with a new twist or three in the future model.  Somebody(s) is getting fired and somebody else(s) is getting a different parachute than they expected a year ago.  Could be worth a look actually if the new team, and there will be one, demonstratively vocalizes a new immediate and 10 year plan.  We minnows can buy the stock at a discount if we like the music.  Regardless nobody in power wants a bank failure right now.

[Belgrade Bobby]

Thursday – ECB Decision and Fed Chair Powell talking  – Economic Calendar

[Belgrade Bobby]

JP – they are all “Yes” people when looking at their Boss and “No” when dealing with anybody else…

[Mtl JP]

monege / NYCB + lipstick for the pig
–
Why private equity has been involved in every recent bank deal – cnbc

… “Public markets are too slow for this kind of capital raise,” said Steven Kelly of the Yale Program on Financial Stability. “They’re great if you are doing an IPO and you aren’t in a sensitive environment.” … .. “Furthermore, if a bank is known to be actively raising capital before being able to close the deal, its stock could face intense pressure and speculation about its balance sheet. That happened to Silicon Valley Bank, whose failure to raise funding last year was effectively its death knell.”

Hahaha. what that says is that there are still incompetents at banks’ executive suites and that the one lesson from SVB has not served a cleansing and weeding process. So rubber meeting real world eventually does so.

makes me wonder what “they” promised Mnuchin in return

[Mtl JP]

for the record
–
“Fed’s Beige Book says U.S. economy picked up speed while inflation, labor market cooled”

[Mtl JP]

hey monedge , what do you think of this

“NYCB raises more than $1 billion in equity investment anchored by former Treasury Secretary Steven Mnuchin’s firm (anchored = and other “investors”)

[GVI Forex]

March ECB meeting preview: Focus on the forecasts

At the ECB’s January meeting, there was a unanimous decision to leave key interest rates on hold and forecasters anticipate the same neutral outcome this week. Thursday’s announcement is widely expected to leave the deposit rate at its 4.0 percent record high while the refi rate stays at 4.50 percent and the rate on the marginal lending facility at 4.75 percent. However, recent comments from Governing Council (GC) members show a widening split over how soon key rates should be lowered. For now, most would seem to prefer to wait for more data, crucially on underlying inflation and wages, but the more dovish policymakers are clearly eyeing a cut sooner rather than later. Just a couple of weeks ago, Bank of Greece Governor Yannis Stournaras was calling for a move no later than June despite policy supposedly being data dependent. Still, such disagreements are only to be expected as a major shift in policy approaches and, to this end, investors will be watching especially closely the bank’s updated inflation forecast for clues about how far rates might be lowered in 2024…

Econoday

[Belgrade Bobby]

It is going to be a pleasure watching what they gonna do tomorrow, when those ECB pretenders disappoint them Frank 🙂

[Swiss Frank]

One might think the € would seek a more neutral price going into ecb all things considered…

[SF Monedge]

Same with UsdChf, no follow through.  Out flat, decent gain from lower.  Dxy not being very aggressive at present.  Can always re-enter either way.

[SF Monedge]

UsdCad not liking the December highs around 3618 so I’m out flat with a small gain averaging of 3505 entry and touchy price activity trying in the 3520+ area.  Going to let this run its course.

[GVI Forex]

AUDUSD 4-HOUR CHART: AUDUSD the  outperformer in a weak USD day

Note the 2 red lines drawn off the low. It is our Directional Indicator indicating a potential shift in risk to the upside that has played out.

.6595 = key res, .6581 res so far holding ahead of it.

The way I look at charts .6535 needs to hold to keep the risk pointed up.

[SF Monedge]

JP – one would think!  As long as they keep liberal arts out of it, but it doesn’t go that way in places like Berkely Univ.  My belief is 1 hour field trips into the worst banks in one’s locale would be more of a lesson in one day than 10 semesters of politically slanted blab mixed in.  Side note – I think ChfJpy is finished with the 170 to 171 range.  Maybe one more push in there but expecting no dice.

[Mtl JP]

monedge … “NYCB’s stock plunges 45% after report that it’s exploring a stock sale”

would this make classic university case study in extreme mismanagement ?

[GVI Forex]

Clear correlation day – US yields falling (4.09% 10 year)/ usd lower BUT very skittish and at the mercy of the bond market.

[SF Monedge]

NYCB halted.  No way their loan to debt ratio is under 4%.  Sounds more like 8%-12%  on a guess.

[Mtl JP]

10-yr at 12:03 PM EST: 4.09%

[SF Monedge]

Long UsdCad 3511, why not

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