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Test your emotions whether EURUSD feels bid/offered when it trades above/below 1.1650 and then read/revisit this article
My Favorite Trading Secret: The Power of the “50” Level
USDX (US DOLLAR INDEX)
EURUSD (57.6% of the index) following rather than leading has helped keep USDX from testing 98.76.
For example USDJPY extended its high to 149.13 before backing off, GBPUSD extended its low to 1.3333 before ouncing while EURUSD paused well above its key 1.1574 support.
USDX 98.08 remains the key support that needs to hold to keep riak on the upside.
USDX 4 HOUR CHART
XAUUSD (GOLD)
No change to what I posted late yesterday except a pause just below 3450.
Breakout day through 3500 to a new record high.
No reason to guess at the next high although 3550 will be pivotal if there is to be a run at 3600.
Otherwise, expect support on while above 3500.
XAUUSD 4 HOUR CHART
Using my platform as a HEATMAP shows,,,
,,, the dollar currently back near closing levels after firming earlier. The JPY is an underperformer although USDJPY has backed off as well after briefly trading above 149.
Focus will soon shift to US data (JOLTS) after the USD reacted negatively to a small miss in the ISM PMI on Tuesday.
On order of strength vs the USD
1. EUR
2. AUD
3. CHF
4. GBP
5. NZD
6. CAD
7. JPY
Alphabet shares pop higher on this ruling, giving indices a lift
Alibaba Group Holdings Ltd. Stocks – BABA
And finally one stock that I don’t have to repeat – opened with a gap…to the downside…lost a major support…
Baba rocks!
As I said on Friday – road is open and clear – first target lies at 148.45 and the part “beyond” should be somewhere in 165.00 area….for now
Support at 136.10
Advanced Micro Devices Inc. Stocks – AMD
Yet another victim of prolonged weekend – AMD opened with a gap to the downside, breaking automatically trendline…. hit a new low 156.60
It is trying to fill up the gap, but it would be really surprising if it manages to do so and go above 162.00
In this moment it is targeting 152.45…unless it surprises us all…
Hims & Hers Health Inc. Stocks – HIMS
Hims without a support – tried to reclaim the gap it started the day with, but without success…
Maybe if it changes ticker to Hers would have some…
This is most probably the beginning of a new wave down, with the target at 31.75
Resistances: 42.35, 43.45 & 44.50
Source: Try Newsquawk free for 7 days
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