EURUSD 4h
Playing between roughly 1.06600 and 1.07800
As long as it stays within this Rectangle, it is possible to play it both sides.
But be aware that this looks more and more as Buying dips and getting ready to break Up.
I have warned days ago that time is of essence when it comes to continuation of the downtrend – well time is up….
Just as a good measure ( technically speaking ) we might see another dip to around 1.06800 and then strongly Up – but not necessarily ….
If this week closes above 1.08 the game is On.
JP – Trump is a lot like Ozzy Ozborne. What people do not realize about the Oz is most of his songs are about not embracing the dark side, he just did it like Vincent Price did in movies. I firmly believe, if he becomes president, there will be initial chaos followed over time by improved economic performance and trade. Anyone thinking anything else is convincing themselves of things that don’t exist. Trump actually wants balance and fairness. I studied him closely. Not a fan in particular, but I think I get it.
To the tune of U2 – Pride
Greece becomes first EU country to introduce a six-day working week – cnbc and others
• The regulation, which came into force on July 1, bucks a global trend of companies exploring whether to embrace a shorter working week.
• The pro-business government of Prime Minister Kyriakos Mitsotakis has reportedly said the measure is both “worker-friendly” and “deeply growth-orientated.”
• Labor unions and political analysts have sharply criticized the move.
Actually, the greek is beholden to the IMF and needs to squeeze blood from its peasants – officially it is called “boosting productivity”
POLITICS
after all that s been said and done
sofar more s been said than done
–
however, when cnn goes public suchly
“CNN Poll Most voters think Democrats have a better chance of keeping White House if Biden isn’t the nominee”
I am expecting more will be soon done. (i.e. joe POOF!s)
will markets celebrate or dump ?
This feels like a sparring match week which for most in the US a 4-day holiday weekend, 2 elections, US jobs report.
One change this week seems to be the steepening of the yield curve and concerns over what happens with inflation and budget deficits should Trump become president, although this story has a ways to play out.
So then, the Fed hasn’t done much to take a bite out of the out of control spending of recent years which is putting up $1 trillion US dollars every 100 days. In the Fed’s defense they can’t order the government to stop spending like it just inherited a diamond mine. There are people who want to put on the breaks but that is against the rules of the current regime.
There is one trick they might have left before the effects start to really hit the economy in bad ways. There is something called a “hail Mary” in US football where you have seconds left on the clock and just throw it 40 yards into the end zone hoping something magical happens.
What do you think they might do?
GBPUSD 4 HOUR CHART –UK Election Looms
Key levels are pretty clear at 1.2612 and 1.2710, the former holding after a run at it earlier.
The key focus is on Thursday’s UK elections, where an outright win by Labour would be seen as a positive if only because it would have a ruling majority. We should have a feel for pre-election positioning by tomorrow at the latest.
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