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EURUSD UPDATE
- Acting like a safe haven as stocks extend slide (DAX as well).
- it has been all green candles (with the exception of one small red one) since the 1.1467 low.
- To put the downtrend at risk, 1.1577 followed by the key 4 hour trendline would need to be broken.
- 1.1550 will set the tone.
- 1.1577 and the key trendline above it.
- Keeps a bid while above 1.1529 (intra-day low)
- Below 1.,1518 would shift focus back to 1.15.
EURUSD 4 HOUR CHART
Newsquawk Daily US Opening News
(Right click on image to open a full screen in a new tab)
XAUUSD (GOLD) UPDATE
Big picture:
- Unable to shake a focus from 4000 (yellow line) despite mood turning risk off
- Printed 9 out of past 10 days with one false break of the pattern (red arrow = high 3990), green arrow = high 4000)
- So watch 4000 as it will eventually dictate next directional move.
Shorter-term charts:
- Trying the upside
- Requires 3985 to hold as support and 4020 to be broken to create some up momentum where 4030-46 stands in the way.
XAUUSD DAILY CHART
Forex Market Snapshot
All eyes on US stocks. after yesterday’s sell-off set a risk off mood across markets.
The dollar, meanwhile, is trading a touch firmer but within yesterday’s ranges..
What caught my eye:
- EURUSD stalled at the (Power of 50) 1.1550 level but finding support out of its crosses (vs, GBP, JPY)
- USDJPY bounced again from below 153 but so far only able to pivot 153.50
- Underperformers: GBP, JPY, NZD
What does “risk off” mean?
In financial markets, “risk-off” refers to periods when investors and traders become more cautious and reduce exposure to risky assets, preferring safer investments instead. It’s essentially a shift in market sentiment toward safety and capital preservation rather than risk-taking.’
Newsquawk US Stock Market Wrap
(Right click on image to open a full screen in a new tab)
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Newsquawk US Market Wrap
(Right click on image to open a full screen in a new tab)
NAS100 (NASDAQ) UPDATE
- With momentum tilted down, it will be hard on a Friday to see a reversal without any news (e.g. end to government shutdown).
- So it is either consolidation within 25000-25784 or a break of the lower end.
- With that said, only through 24657 would break the range.
NAS100 4 HOUR CHART
No new tariffs (for now)
(Right click on image to open a full screen in a new tab)
Trading Tip: Watch Other Markets for Clues as They are All Connected
As traders we need to find as many clues and pieces to puzzle as possible.
With global markets connected, what happens in one can influence or give a clue to what is going on in another.
Take today as an example how markets are connected:
- US stocks moved lower setting a risk off mood
- Sharply lower bond yields suggested there might me more to it in a run for cover
- In FX, a stronger JPY /lower USDJPY (and a weaker AUDUSD) was another clue that is was a bigger risk off move.
Key is finding which market is leading and which is following.
Reminder about intra-day correlations: They work until thewy stop working
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Trading Tip: Watch Other Markets for Clues as They are All Connected
As traders we need to find as many clues and pieces to puzzle as possible.
With global markets connected, what happens in one can influence or give a clue to what is going on in another.
Take today as an example how markets are connected:
- US stocks moved lower setting a risk off mood
- Sharply lower bond yieldssuggested there might me more to it in a run for cover
- In FX, a stronger JPY /lower USDJPY (and a weaker AUDUSD) was another clue that is was a bigger risk off move.
Key is finding which market is leading and which is following.
MARKET UPDATE
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- Fresh sell-off in stocks setting a risk off tone . No apparent news other than a surge in Challenger layoffs and 3rd tier employment data.
- Gold trading lower after failing toi maintain 4000+ and not getting safe haven flows
- Dollar trading mixed, AUD, NZD, CAD taking the brunt of risk off, JPY the lead beneficiary,
- EURUSD back above 1.15 to restore a bid
- GBPUSD up on day but off its highs in a wild post BOE unchanged rate decision ride.
- Crude oil is down
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