Kharitonov FX Trading (EN)

On the 1D timeframe, XAG/USD has found strong support near the 55.00 level, and a decline toward this area presents a buying opportunity with a minimum target at the resistance zone around 64.00–68.00. A decisive break below support would trigger a decline toward 52.00–48.00, with buying opportunities also possible on the way to the latter level. At this stage, there is no substitute for silver in industrial applications, while mining output is not increasing.

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EUR/USD After breaking through strong support in the area of the 1.1400–1.1390 levels, the pair reached a support zone starting from the 1.1360 level, where the likelihood of profit-taking on short positions and the development of an upward correction increases, though a drop toward 1.1330 is not ruled out. A decline and consolidation within the range are possible prior to the development of the correction.

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☝️Today, the traditional non-farm payrolls data for the first Friday of the month will be released in the US. A weak NFP report will lower the probability of the Fed raising rates in the foreseeable future, which will add some negative sentiment to the dollar, though it is unlikely to trigger a large-scale sell-off. A strong report could contribute to a strengthening USD.

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I'm drawing your attention to BO again (not an advertisement)

The main factor for EUR/USD right now is the rapid fading of the effect from yesterday’s intervention by the U.S. Treasury in the Treasuries market. The decision to increase the maximum volume of buybacks of long-term bonds at least from $2 billion to $4 billion per operation initially triggered a sharp rise in government bond prices and a decline in yields, with the 10-year yield falling to around 4.65% and the 30-year yield to 5.18-5.20%. However, already today the market has begun to almost …

EUR/USD continues to trade above the current support line, indicating that the potential for further growth toward 1.1620–1.1640 remains intact. A break below the 1.1520–1.1500 support level would trigger a decline toward 1.1480–1.1460, where moderate buying…

The US Department of the Treasury expands buyback operations for long-term fixed-coupon Treasuries to support debt liquidity. Theoretically positive for gold, silver, and stock indices, and negative for the US dollar.

The US Department of the Treasury expands buyback operations for long-term fixed-coupon Treasuries to support debt liquidity. Theoretically positive for gold, silver, and stock indices, and negative for the US dollar.

I'm drawing your attention to BO again (not an advertisement)

EUR/USD continues to trade above the current support line, indicating that the potential for further growth toward 1.1620–1.1640 remains intact. A break below the 1.1520–1.1500 support level would trigger a decline toward 1.1480–1.1460, where moderate buying interest may emerge.

☝️The US and Japan held a rare coordinated intervention by buying yen and selling dollars to stop the depreciation of the Japanese currency. For the US, the key condition for supporting the yen was the Bank of Japan's promise to "reinforce" the intervention by tightening monetary policy so that the rate's growth would be sustainable.

FT: Warsh is prepared to consider a rate hike at the Fed's September meeting if upcoming data confirm persistent inflationary pressures and inflation expectations continue to rise, sources say. Looks like Trump may have miscalculated somewhere))

Michael Saylor on MicroStrategy's Strategic Vision: The company aims to raise tens of billions of dollars (as part of a $42B+ plan) to purchase Bitcoin, ultimate targeting up to 7.5% of its total circulating supply. Explaining his logic, Saylor stated, "I buy that which is going to get exponentially more expensive," and projected BTC to reach $10,000,000 in the long run. A "strength of faith" like that would make even the Pope jealous))