EUR/USD - Marabuzo line to support demand

Alan Collins 3cAnalysis

The stalling of EURUSD demand at the 100 day mvg avg Monday left our outlook neutral. That proved correct as the market fluctuated between that average and Monday’s Marabuzo line but, during European time, lacked follow through momentum. Trapped between averages and the Marabuzo line immediate technical studies cannot be strong But Asian gains are enough to provide a mildly positive intraday bias and so this morning’s call is Bullish but leaving room to also buy a 1.1434 dip, Asia’s low. The risk is 1.1398, this week's opening price, with upside targets of 1.1486, yesterday's high, 1.1507 and 1.1534, top of the daily Keltner channel.

Marabuzo Line Supports

Higher Lows

EURUSD Current Trading Positions

Sell 39%

Buy 61%

Avg Sell Price 1.1391

Avg Buy Price 1.1427

Liquidity Distribution

Author

Alan Collins

3cAnalysis

Alan has been involved in the financial markets for more than 30-years.

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold tumbles as blockbuster US NFP lift US Dollar, Treasury yields

Gold (XAU/USD) falls sharply on Friday, snapping a two-day recovery after the US Nonfarm Payrolls (NFP) report surprised strongly to the upside. The metal briefly climbed above $4,500 on Thursday, gaining nearly 2%, but has since erased a large part of that advance.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.