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XAUUSD UPDATE
- Trying to regain a footing after yesterday’s sell-off but would need to get through the down trendline to put the bulls back in control.
- Recent history shows sharp retracements followed by new highs so will see if history repeats.
- Meanwhile, 5000 is clearly pivotal in setting the tone.
XAUUSD 1 HOUR CHART
XAUUSD UPDATE
- Trying to regain a footing after yesterday’s sell-off but would need to get through the down trendline to put the bulls back in control.
- Recent history shows sharp retracements followed by new highs so will see if history repeats.
- Meanwhile, 5000 is clearly pivotal in setting the tone.
XAUUSD 1 HOUR CHART
EURUSD follows Grman bond yields higher on this headline
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Market Update
Defensive trading into the long US holiday weekend
- US stocks trying to recover but so far US500 has failed on first attempt to hold above 6850 following its bounce from sub-6800 test
- NAS100 rally attempt paused shy of 24860, to keep it on the defensive but consolidating.
- XAUUSD rebound testing 5000+, which is currently acting like a pivot
- USD is trading cautiously irmer with the JPY lagging after leading overnight. EURUSD 1,.1850 remains pivotal
- BITCOIN is trying find some legs after yesterday’s bounce off 65000 yesterday but needs to gewt through 70-72K to break down momentum..
For your botter: Possible dates for the Supreme Couyrt to rule on Trum tariffs
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US500 UPDATE
- Having failed below 7000, US500 has made a run and paused just above the other pivotal round number at 6800 although next key chart support is not until 6730.
- To ease the risk on the downside, 6850+ would be needed.
- Intra-day resistance is at 6844, the post-CPI spike high.
- 6800 JUST BROKE AS I POSTED THIS UPDATE… WATCH 6800 AS A GUIDE, CLEARLY PIVOTAL… ADDENDUM, STOPS AND POP , LAST AT 6840
US500 1 HOUR CHART
CPI headline miss but Core in line with the consensus… initial reaction is to the headline miss but Core CPI is seen as more important
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Bitcoin On-Chain Heatmap Shows All Major Metrics In The Red
The indicators in the graph are all key on-chain metrics covering different dimensions of the network. For example, the MVRV Z-Score deals with general investor profitability, while the Trader Realized Price and Trader On-chain Profit Margin specifically track the profit-loss status of the short-term holders.
All the indicators in the heatmap are currently giving a red signal, implying conditions aren’t favorable for a bull market. As long as that remains the case, it is hard to imagine BTC reaching new highs in the short term.
Newsquawk Pre-Market Movers
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FX option expiries for 13 February 10am New York cut
Large one for EUR/USD at the 1.1850 level. The expiries hold close to the 200-hour moving average of 1.1846 currently and that together, that could keep a floor on price action in the session ahead. The expiries could also act as a bit more of a magnet, with the key near-term level having been where buyers stepped in after the non-farm payrolls drop.
So, the two when put together could lock in EUR/USD price action in European trading barring any major headline surprises.
US ups pressure on Iran
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