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EURUSD Daily
EUR held above 1.16500 support so far, but Pattern wise it is about time to be seriously tested.
There are two more supports below it : 1.16050 & 1.15700
Last one represents Channel trend line and this is where the decision awaits.
Resistances: 1.16800 & 1.17150
Intraday pressure – Down and strong
EURUSD; Watch 1.1683
- 1.1683 is not a level you would normally identify as a key one but it has been flipping between support and resistance since last week, currently the latter (also seen on a 15 minute chart as well).
- So keep an eye on 1.1683 qhile within today’s *insidee day so far) 1.1660-1.1715 range.
EURUSD 30 MINUTE CHART
Forex Market Snapshot
- The dollar is trading firmer as political factors dominate in the absence of key US data to focus on.
- Weakest is the NZDUSD ahead of Wednesday’s RBNZ rate decision.
- USDJPY extended its high towards (but still below) 150.91
- EURUSD so far pausing above 1.1652 (Monday low) and a key 1.1645 level
In our blog
The “Takaichi Trade”: Markets Bet on a Return to Abenomics Under Japan’s New Prime Minister
Global markets have already coined a new phrase called the “Takaichi Trade.” It refers to the market reaction following the election of Japan’s new Prime Minister, Sanae Takaichi, who is widely seen as a supporter of former leader Shinzō Abe’s economic strategy known as Abenomics.
“The “Takaichi Trade” Explained
NIO Inc. Stocks
Nio had a chance today to continue with the rally, but lost a momentum and now we should concentrate on supports.
First one is at 7.50 followed by 7.45 and 6.95
If this wave proves to be a limited correction, as long as NIO stays above 6.85 it might return to the Bullish mode fairly quickly
Robinhood Markets Inc. Stocks – HOOD
Hood reached the channel upper trend line and surprise, surprise….savage profit taking kicked in.
High at 153.85 – one pip above my target as the trend line rises slowly every day.
First support comes at 143.60 followed by 141.85
We should be seeing at least two days of correction – and then we’ll see
US500 (SP500): Still consolidating below record high
- Major uptrend consolidating with a double top at 6751 and supports at 6720/12/06/6693.
- I always pay attention to price action where the “50” level acts as support or resistance, in this case a 6751 (close enough to 6750) double top.
- As this is a CFD feed I give the “50” level less importance but still bears watching to see if it continues to hold.
US500 1 HOUR CHART
NAS100 (NASDAQ): Battle for 25000
- 25000 is one of those major pivotal levels that would need to become support to send the NAS further into uncharted territory.No reason to guess at a top so will keep focus on 25000 and look at levels that would dent momentum: 24917, 24850, 24720
NAS100 1 HOUR CHART
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