Currency market: Biden and closing prices

Brian Twomey Brian's Investment

As Biden continues where America's bummner Obama leftoff in 2016 to advance a bankrupt agendaunder obstinate false ideals, the road ahead for America will be fraught with massive spending in thename of climate change and stimulus. And given a Democrat congress for at least Biden's first twoyears, Biden must move fast to spend the money as 2022 could see the Democrats gone fromcongressional majorities.

America's GDP currently stands at $22 trillion and Biden proposes to spend about $2 trillion for stimulus,a horrible precedent set by Trump. Now we have 20 for now as a downside to GDP strips away $22trillion.

Between Climate change spending proposals at $10 trillion, free college, free money to immigrants andfree everything, America's GDP will see a remainder of $8 trillion.

The American public will see a forced conscription to assist to spending by higher taxes.

Biden will ride free and unaccountable to not only spending but the disasters ahead as the wizard won'tbe seen nor will he ever have to answer to anybody, particularly the American public. Between the newsmedia and big tech, Biden will be shielded to hold news conferences.

The recommended read is Jan Kozak "And Not a Shot was Fired". It reveals the Soviet Union plans tothe takeover of Hungary, the Czech Republic, Poland and Central America in the 1980's. Today's plansnot only haven't changed from the Soviet model but the exact replica is followed today.

Close Prices

GBP/USD looking for under 1.3615, ultimately at 1.3583. Means long then short for next week.

GBP/NZD. Close is irrelevant because EUR/NZD is the better trade for next week and highly doubtful toeven consider GBP/NZD for next week.

GBP/JPY. Close at 141.04 or under. Any higher then short for next week.

EUR/USD close right around 1.2137 and short or next week.

AUD/USD. Close under 0.7725, ultimately 0.7694.

NZD/USD. Close under 0.7216 to 0.7190.

EUR/AUD. Doesn't matter to the close.

Long from anywhere next week.

USD/CAD. Under 1.2710 then long for next week. Clos 1.2684.

Author

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

EUR/USD bounces off lows, back to 1.1860

EUR/USD now manages to regain some balance, retesting the 1.1860-1.1870 band after bottoming out near 1.1830 following the US NFP data on Wednesday. The pair, in the meantime, remains on the defensive amid fresh upside traction surrounding the US Dollar.

GBP/USD rebounds to 1.3660, USD loses momentum

GBP/USD trades with decent gains in the 1.3660 region, regaining composure following the post-NFP knee-jerk toward the 1.3600 zone on Wednesday. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold stays bid, still below $5,100

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of humble gains in the US Dollar and firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.