ForexAnalytixPipczar

ForexAnalytixPipczar

Intraday Update: The USDJPY continues to move higher post election night as the 154.75 level is the 161% extension of the Aug 15ht highs to Sept 12th lows. RSI is divergent, but with yields moving/breaking higher today its hard to see it stop short of 145.00.

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Intraday Update: The EURUSD has finally reached the 38% retracement of the Sept 25th highs to Oct 23rd lows. This should be a fairly key level to watch for a consolidation ahead of the election results in the coming days.

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Move lower in SPX looks pretty impulsive, so I'd be looking for the 5770 to offer significant resistance now.

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Intraday Update: End of month flows has take the USDNOK back above the 11.00 level, but in order to get above triangle resistance we will need to get past the elections, or perhaps a blowout NFP tomorrow. Bulls should take note of this long term triangle resistance.

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Intraday Update: The EURGBP has found very strong resistance at the .8383 level, the 61.8% Fibonacci retracement level of the Oct 10 highs to Nov 4th lows. A break of this level would open a move beck to the mid .84's.

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Intraday Update: As the "bias chart" supported has noted the last several sessions, key support is at 5770, and today's lows (as of now) is 5775. With PCE, ECI and unemployment claims and earnings from a ton of major companies like AAPL, AMZN, MA and more later today, this support will be in focus.

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Intraday Update: USD index is respecting the rising trend line which means that the 104.20 level is critical for bulls to hold, a break of the 104.56 level would be a bulls breakout as the trend line from the 2022 highs would be broken.

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Intraday Update: The EURUSD is consolidating in a triangle which should lead to the 1.0795 level intraday. Considering the bearish trend of the pair, the risk is tilted to an eventual break lower below the 1.0760 level.

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Intraday Update: The AUDUSD has come very close to the 61.8% retracement at .6575 after bouncing off channel support. Expect this to be support today on any dip.

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Intraday Update: The GBPUSD is setting up an inverted head and shoulder pattern in a descending channel. A break of 1.3000 would be bullish.

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Intraday Update: Ahead of the Canadian retail sales the USDCAD may be developing an ascending wedge into a longer term 88% retracement. A move to 1.3890 may find resistance with support at 1.3830. Ascending wedges are reversal patterns by default.

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Intraday Update: The US Dollar index is at channel support into the end of the week, so a decisive break of the 103.98 level could usher in some selling into week end. But bears should be cautious here at support.

ForexAnalytixPipczar

Intraday Update: The SPX has broken a minor trend line from August to present day. We are also at horizontal support of highs from early October. A move below here would put the 5707 then 5586 levels in play.

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Intraday Update: The DXY continues to grind higher into the ascending channel and beyond this resistance will put the levels from July in play near 104.80.

03:08

ForexAnalytixPipczar

Looking to sell rallies in the USDCAD, and I give you the reasons why (following the price action of the jobs report and CPI last two weeks) and the US Dollar index.

ForexAnalytixPipczar

Intraday Update: Silver is nearing the 161% extension as pullbacks have been shallow. With intraday RSI's divergent, that would suggest the 34.78 level will be key resistance on this rally.

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Intraday Update: A strong reaction from the very minor descending channel which suggests a move back to the .6090 level should offer resistance.

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Intraday Update: Gold is once again at new highs and the daily RSI is nearing a descending trend line, a break of this trend line could allow for price to accelerate higher towards the bull flag completion level above 2800.