[Mtl JP]

michael 9:23 / tky !
plus I am keeping an eye on the 10-yr for encouraging confirmation

[Ab hk]

mkt is readjusting the golden colour heaven to yenful colour heaven.

Gonna be a nasty one. Good luck.

[GVI Forex]

THIS WEEK’S MARKET-MOVING EVENTS (all days local)

The Reserve Bank of Australia is expected to hold policy steady on Tuesday for a sixth straight meeting as is the Reserve Bank of India on Thursday for a ninth straight meeting. Both banks continue to face above-target inflation.

Chinese merchandise trade estimated for release on Wednesday is expected to show a steady and prodigious surplus with a strong rise for exports.

German manufacturing orders on Tuesday and industrial production on Wednesday are both expected to rebound from prior declines. Eurozone retail sales on Tuesday are seen flat.

A moderate rebound for Canadian employment with, however, an uptick in the unemployment rate is expected for Friday.

Econoday

[michael Calif]

NEW ALERT    due in part to Friday’s price decline, futures traders have reversed to Long USD    :gtwo3

[GVI Forex]

BTC sub-60K, now 6 red daily candles in a row.

[michael Calif]

futures traders remain Short BTC per July 21    :gtwo3

[Belgrade Bobby]

XAUUSD –Gold Weekly Chart
Supports : 2415.00 , 2390.00 & 2295.00

Resistances : 2485.00 , 2525.00 & 2615.00

Gold is in a Very Bullish Formation, but…. continue reading 

[Mtl JP]

Early sunday ahead of week trading opening

AXIOS – us news portal whose Greek name means “worthy”
Soooo …. fwiw, are U prepared to trade :

Top U.S. general in the Middle East as U.S. and Israel prepare for possible Iran attack – axios

“Three U.S. and Israeli officials said they expect Iran to attack Israel as early as Monday.”

On Saturday, President Biden was asked by reporters whether he thinks Iran will stand down.
“I hope so. I don’t know,”, he said.

sleepy joe may not know (surprise?) BUT
GOLD and / or Brent know

[GVI Forex]

BTC DAILY CHART – 60K

Having failed to renew 70K BTC is challenging 60K

This is the pivotal level as it wil dictate whether the current range is 60-70K or 55-65K

In any case the price action is disqppointing to the bull side as BTC has failed to benefit as a safe haven during this period of risk off.

Daily pattern is 5 red candles in a row, see how it ends on Sunday.

Refer to this chart for key levels.

[GVI Forex]

Given that the EURUSD helped lead Friday’s USD selloff, it pays to revisit this article

Why is the EURUSD Referred to as the Anti-Dollar?

 

[Belgrade Bobby]

Weekly Charts Analysis – Trading Club

 

Continue reading….

[Mtl JP]

Hard landing
Wikipedia
A hard landing occurs when an aircraft or spacecraft hits the ground with a greater vertical speed and force than in a normal landing.

Lousy Jobs Report Forces Fed to Reckon With Hard Landing
Policymakers have been focused squarely on inflation. Now they need to worry about the labor market, too.
By Nick Timiraos, Aug. 3, 2024 in WSJ

Now only need to define “normal landing”
– I think … it means that dishes and cups do NOT come tumbling out of the cupboards.

[Mtl JP]

adding to “detailed preview”
–
Gooslbee, on Friday, p1ssed on the hair-on-fire screamers for intra-meeting 50pt cut

Aug 2 (Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee said on Friday the U.S. central bank should move in a “steady” way, a mild pushback against the rush of market bets that the Fed will react to a report of weak July jobs data with a bigger-than-usual half-point rate cut in September.
“We never want to overreact to any one month’s numbers,” Goolsbee said in a Bloomberg TV interview. Even so, he said, “Our absolute goal now is we want to settle at something like full employment, not blow through normal and deteriorate.” …/..

Lets see … who ll prevail and trump

[Mtl JP]

climate change — on wallstreet ?
have no fear prescient yellen s here:

$3 Trillion (per year, till 2050) to mitigate “climate change”

[GVI Forex]

There is a light US economic calendar after the news deluge last week. This is why the focus will be on US stocks in the week ahead after last week when…

Rotation from US stocks into US Treasuries on recession fears

Stocks fall => bond yields fall => US weakens

For the week ahead see detailed previews:

Newsquawk.com Week Ahead 5th-9th August: Highlights include ISM ServicesPMI, RBA, BoJ SoO,BoC Minutes, and Chinese inflation

[GVI Forex]

Nasdaq off 10% from its record high putting in in correction territory.

[michael Calif]

futures traders are Short Gold    :gtwo3

[Mtl JP]

I get a KICK out of some pundits screaming to kick the INTEL dog off the index

[Belgrade Bobby]

XAUUSD – Gold

If it manages to close tonight above 2420.00 ( and opens on Monday as well – so without a gap ), it will have another chance to test the previous high and continues up.

However, close below 2400.00 would be quite bearish…

I have mentioned a possibility of double top day ago, and Monday will give us the answer….

[Belgrade Bobby]

EURUSD Daily

End of week development

Support at 1.08500

Resistance at 1.09500 & 1.09650

I was asked about Bull/Bear Traps like a day ago, and here we had one…a Bear trap.

If you check weekly chart, you’ll see a very Bullish pattern creation and it should show its strength from the early beginning of the next week.

[Author]

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