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EURUSD
Trying to build upward momentum but faces a key obstacle.
In range of the key 1.1721 high… firm break would expose 1.1750/65/90, which block a return to 1.18.
On the downside, supports: 1.1681 (LOD), 1.1672, 1.1657 (key 1 hour), trendline, 1.1633 ahead of the 1.1612 drill down key support.
EURUSD 4 HOUR CHART
Using my platform as a Heatmap shows…
… the dollar trading mixed as it consolidates after yesterday’s selloff
USDJPY Tested upside but unable to regain the pivotal 148 level
EURUSD consolidating after a pause yesterday below 1.2721… keeping a bd while above 1.1672 – yesterday’s intraday breakout level
GBPUSD consolidating after failing to hold l.35+ yesterday
Gold remains firm but has backed off after failing to hold 3400+
US stocks treading water with a focus on earnings
US bond yields up
Light U.S. economic calendar this week has left news algos filtering a barrage of Trump TS posts apparently designed to distract frpm the Epstein story
Countdown: 10 days to the August 1 tariff/trade deal deadline
NIO Inc.
Nio continued making new highs today – last time it did it was April of this year…
Targets stay the same : 4.80 & 4.95
Major supports at this moment are : 4.25 & 4.10
This is all looking nice, but before we see it above 5.00 it all can be just an Uptick prior to continuation of the downtrend…
EURUSD 4h
Downtrend channel line is broken now – this is not like it happened on 16.07. as it is a natural move.
EUR has to stay now above 1.16750 to continue rally.
Usually I like to see two consecutive closings , before I set up my mind on the direction, but the grater probability is Up now.
If EUR makes it above 1.17250, this move should be targeting previous high at 1.18300 & 1.18550 afterwards.
Crypto-linked stocks advance as Trump signs stablecoin law
Key points:· Ether last at $3,816.7, near its highest level this year
· Solana also surges, ProShares Ultra Solana ETF up 16.6%
Shares of crypto-linked companies jumped on Monday, as ether prices scaled their highest this year after President Donald Trump signed into law a bill regulating stablecoins in the U.S.
Trump signed the GENIUS Act late on Friday, marking a huge win for crypto industry that has been lobbying for a regulatory framework to gain greater legitimacy. The bill was passed in the House of Representatives by a vote of 308 to 122 on Thursday, after Senate approval.
Bitcoin BTCUSD, the world’s biggest cryptocurrency, inched 0.2% up, though it remains more than 3% away from its all-time high of $123,153 hit last week.
The bill bans yields or interest payments on regulated stablecoins, which Deutsche Bank said is leading to a rise in ether ETHUSD prices, on expectations that investors are moving into the world’s second biggest cryptocurrency as an alternative for yield generation in decentralized finance.
” Ether was last trading at $3,816.7 after hitting its highest level for the year on Sunday.
Crypto exchange Coinbase Global COIN gained 1.9%, while stablecoin issuer Circle Internet CRCL rose 0.9%.
Stablecoins are designed to maintain a constant value, usually a 1:1 U.S. dollar peg, and their use has exploded, mainly by crypto traders moving funds between tokens.
FOLLOWING STRATEGY
Shares of BitMine BBMNR, where tech billionaire Peter Thiel is the top investor and whose chairman is Fundstrat’s Tom Lee, advanced 4.7%. Other ether holding firms Bit Digital BTBT, BTCS BTCS and SharpLink Gaming SBET climbed between 2.6% and 9.4%, respectively.
Companies such as GameStop GME have been rushing to add crypto to their balance sheets, following the footsteps of Strategy MSTR. Shares of the largest corporate holder of bitcoin have skyrocketed nearly 3,000% since 2020 and climbed 2.2% on Monday.
Blank-check firm Dynamix Corporation DYNX surged 30% as the Ether Reserve, a new crypto venture backed by prominent crypto investors, was set to merge with the company to form The Ether Machine.
Other cryptocurrencies also advanced, with Solana SOLUSD hitting its highest level since February. The ProShares Ultra Solana ETF SLON also jumped 16.6%.
XRP (XRP=) also gained 1%, trading close to its record highs.
The broader crypto sector’s market value hit $4 trillion on Friday, according to CoinGecko data.
SOLUSD Chart
US Futures Start the Week Higher with Earnings in Focus
US stock futures traded slightly higher on Monday, with contracts on the Dow, S&P 500, and Nasdaq each up nearly 0.2%, as investors monitored trade developments and prepared for a busy week of corporate earnings.
Commerce Secretary Howard Lutnick reaffirmed that August 1st remains a “hard deadline” for implementing new tariffs, though he signaled that negotiations with trade partners are still ongoing.
On the earnings front, Verizon surged nearly 5% in premarket trading after reporting results that beat expectations on both earnings and revenue, while also raising its full-year profit outlook.
Market focus is also turning to a wave of key earnings reports due this week from megacap names including Alphabet and Tesla, as well as IBM, T-Mobile, and Coca-Cola.
Meanwhile, Microsoft shares slipped 0.2% in premarket action after the company issued a warning about “active attacks” targeting a server software used by government agencies and businesses for internal document sharing.
Nasdaq Chart
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