DLRx 104.09 / 10-yr 4.266
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can something be more boring ?
I doubt USD has good change for enthusiastic demand
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10:00 – UofM sent
10:00 – ISM manufacturing
10:15 – waller (forgot to tell us something yestreday)
12:15 – bostic (eco outlook)
13:30 – daly & schmid
15:30 – kugler (discovered something about dual mandate he is eager to share)
S/P 500 futures are either going to form a double top around 5122 today or blow through it to set new levels of price. 5070-80 is the area to hold the bid, nearby contract opened Asia bid but fell to hold a closer in 5090 pivot, currently 5100. Eur tends to move with US stocks on a risk on/off basis. 10yr yield at 42.70 is right in the middle of the recent range 42.20 – 43.50. DXY showing much sturdier than yields and showing signs of strength that could stick overall into next week. Headed into the weekend one might believe the risk appetite would be not so hot with so much geo-political/war risk present. Currently positioned lightly on the sell side of Usd/Chf from this morning’s high minus 2 pips with a tight stop.
EURUSD Analysis: Key Support and Resistance Levels to Watch
The EURUSD pair is currently testing the 1.0789 support level once again. A breakdown below this level would suggest that the upside move from 1.0694 has concluded at 1.0887. In such a scenario, the next target levels would be at 1.0750, followed by 1.0694.
However, if the 1.0789 support level holds, the pullback from 1.0887 could potentially be a consolidation phase for the uptrend from 1.0694. In this case, another rise towards the 1.0950 level is still possible after the consolidation.
The initial resistance level is at 1.0840. A breakthrough of this level could potentially take the price to the next resistance level at 1.0887. Above this level, the price could aim for 1.0950.
Knez – 1.07950 – if bellow -We have lots of data today – Economic Calendar
CHF should continue to be the weakest link….
Meanwhile eur looks like it could do a little kerplunk of its own as the hourly chart over the last week looks more and more like down moves are more impulsive while up moves more corrective AND shallower (or whatever the inverse of shallow is when it refers to higher)…
USDJPY 15 min chart – red lines dominating, momentum pointing up but faces the invisible hand
After yesterday’s false break to the downside we are back to staring at 150.89 and the invisible hand guarding it.
A break/close above 150.79 would produce an outside week key reversal BUT ONLY A FIRM BREAK OF 150.84-89 WOULD OPEN THE DOOR ON THE UPSIDE.
Expect support on dips as long as 150.30 holds.
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