USDJPY Daily
Supports at : 155.350 , 154.650 & 151.050
Resistances at : 157.850 , 158.450 & 160.500
We have here a possible Bullish Pattern Creation – not to be mistaken for a sure thing – but I have to warn you about it.
So far, USDJPY repeatedly had very sharp corrections, just to continue Up and reach a new High.
There is nothing visible right now to confirm something else – so we have to treat this drop as a correction , for now..
Talks about BoJ, Hidden agendas and conspiracy theories of all kinds shouldn’t be taken into account while trading.
EURUSD 4h – Pre Open
Resistances at : 1.08850 , 1.09000 & 1.09050
Supports at : 1.08750 , 1.08650 & 1.08050
1.08650 is a crucial support right now, and will decide are we going to return to further advances Up, or we’ll face a deeper correction.
We have a Major Resistance ( and the target ) at 1.09750.
Click below for detailed previews
Newsquawk Week Ahead: Highlights include US PCE, BoC, PBoC LPR, PMI’s and Tokyo CPI\\
NEW YORK, July 19 (Reuters) – As earnings season goes into full swing, bullish investors hope solid corporate results will stem a tumble in technology shares that has cooled this year’s U.S. stock rally.
Wall St Week Ahead: Investors count on earnings to calm $900 billion US tech rout
BTC DAILY CHART – A run at the record high?
BTC bucking the trend on Friday by rising sharply has some talking about a run at the record high above 73K.
This is not something I can predict. Chart shows layers of resistance above 70K/
To keep it simple watch 65k and 70K. Above 65k needs to hold to keep pressure on the upside.
Technical levels are shown on the chart.
Who wants to bet good ol’ joe is in it to win it
OR
Who wants to bet good ol’ joe is pulling out his nomination candidacy by Sunday eve ?
Memo – reprinted on CNBC
Biden won’t drop out, campaign insists in a new memo
And nevermind any trade musing: lets just load up on popcorn or some vegies and dip and …
watch the attempted figurative (?) personal injury of ol’ joe, with prejudice.
Noting the Nasdaq Bank Index is only peeling a little gains off of the table from the tremendously strong gains of the month. This, along with some other things, has me not at all satisfied that a risk off environment is deep enough to result in hyperbolic prognostications of crashes and tops and bubbles and the see I told you so crowd. It makes perfect sense to me that institutions would be simply maneuvering in response to the geopolitical conditions of the past two weeks. That does not mean we won’t have some sell cycles along the way. The very strong gains immediately following Trump seemingly taking over in some sectors was another counter-argument to the “if he is elected the end of the world is near” crowd. The one sector that has me concerned is real estate, followed by retail, followed by the automotive sector, and then the energy sector.
That said, bears who celebrate could get what is called a “haircut” when the intermediate pre-election re-allocation/hedge phase starts to run dry.
Since technology is an obvious major topic today and there is chatter about AI making rounds, why not produce prudent material for consideration.
What if AI were to ultimately arrive to become authorized to run the FED and monetary policy? What would the climate and the outcome be? It will happen, at least to some extent. And who will be influencing that AI? AI, at this stage of development, only responds to the input given to it by the individuals providing their input. What surprised everyone, however, is that AI is learning to make its own decisions and investigating without being asked to, much faster than people estimated would happen. My estimation, in considerable conversation with very savvy technologists and others, is the timeline appears to be around 5 years before we see the first elements of that condition present and possible deployed, albeit on a very small and limited scale for a while. Major executives in some industries are voicing concerns over projections of up to 60% of workers jobs being replaced by AI and technology, including robots, within FIVE years.
Perhaps it is a thought to tailor one’s trading approach with those elements in mind looking forward.
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