Not a day goes by these days when we get some News Flip Flop… and out of nowhere do we suddenly get the chance of Peace with a 1 Page MOU.. that should short out technical negotiations that can take weeks if not months… as we said yesterday… Trump really needs an off ramp by the looks of it…. the EUR took out the 1.17645-65 cluster once more… reached a higher high than on Friday but still failed at the end BUT stayed above the 1.1745 fib which means as long as we do stay above that level.. the topside is still the main focus…. Some more chatter again of a USD 900 Mio Oil trade 70 minutes prior to the news.. hence the Insider trading stories keep on coming and you do wonder at times if that is the main purpose of this News flip flop but let’s just wait and see….
Data wise not much today just US Claims.. tomorrow is the Key day with US NFP. The rest we will just have to wait and see what Iran says to the latest stories… I guess if I were them… you can sign a MOU as it just means very little BUT… for them to open Hormuz…
Trump has to drop the blockade…. Also interesting.. it seems the Project Freedom had to stop as the Saudis did not open their Air space… not that they are totally against.. but the US once more failed to discuss the plan with them….
So the chaotic nature of US tactics continue, something the Iranians say as well…. I read a transcript of the First round talks in Pakistan… and seems it fell apart as the US kept changing the demands…. Maybe time for real diplomats and not Real Estate Agents like Wittkof and Kushner…(rant over haha)
Range to start the day… 1.1745 vs 1.1825 with the 1.1765 and 1.1790 pivots…. Break of the 1.1745 would start to indicate failure on top and focus shifts back to the downside
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