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EURUSD 4H
This is one silly development – someone / something is obviously buying EUR on any dip….
For any follow through, EURUSD has to take over 1.13600 first and then 1.13800
If however those resistances prove to be too hard to break, whoever was buying EUR is going to have his/her stops exposed.
My bet is on the downside …so we’ll see
USD moves lower after data dump but there are some limits
The USD moved lower after the data that showed inflation was under control – for now. The trade data saw a big improvement. The personal income data was solid.
Not so hot is Pres. Trump tweeted that China violated the trade agreement:
Stocks are lower. Yields are near unchanged.
The USD moved lower initially, but is moving modestly higher after the initial move.
EURUSD: The EURSUD moved above the 100-hour MA at 1.13342. The high reached 1.1357. The 1.1362 and 1.13803 are targets. The high today reached 1.1389.
UBS Previews Next Week’s Bank of Canada Policy Decision; Comments on Canadian Dollar
The Bank of Canada is likely to leave its policy rate unchanged next Wednesday and UBS expects USDCAD to continue its downward trajectory over time.
The bank’s opportunity of the week centers around a continuation of the AUDCAD’s recent rebound.
The AUDCAD currency pair usually trades in a tight range around the 0.90 level, according to UBS. However, in the aftermath of the “Liberation Day” tariff announcements by United States President Donald Trump, the pair dipped briefly to levels below 0.85 and since then recovered very gradually to 0.89.
In the bank’s view, there remains further ground to make up, with a move above 0.90 likely in the coming months. Key catalysts include the improving chance of a U.S.-China trade deal, relative upside for mined commodities versus energy, and a much smoother domestic rebound in Australia.
In addition, UBS doesn’t foresee a sharp rally in the Canadian dollar (CAD or loonie). As a result, the bank likes to be long AUDCAD at 0.89, with a target of 0.92 and a stop-loss of 0.8750.
AUDCAD Chart
BTCUSD – Bitcoin
BTC is in the correction phase – when I stated two days ago that correction is on its way, I almost got lynched on X – so there you go….or better to say: I told you so 😀
Resistances: 106.500, 107.700 & 108.915
Supports: 104.525, 102.000 & 100.725
It should continue slowly down for a day or two more.
First signal that BTC is ready to continue Up is once it moves above 107.500
DAX
Dax is trying to consolidate just above 24.000 and so far holds above it
In my opinion, one quick and not too brutal correction might serve it better…
Resistances: 24.180, 24.280 & 24.325
Supports: 23.915, 23.550 & 23.050
It’s end of the week and end of the month, so just holding onto 24.000 is a positive sign.
However, I would love to see it tests the supports
Downside miss in Chicago PMI… stocks dip… U of M final consumer sentiment next
XAUUSD – Gold Daily
Gold is consolidating for awhile, after hitting the all time high back in April.
Now we have important levels above the head:
Resistances: 3330.00, 3365.00 & 3400.00
Most important one is the last – 3400.00 – once above it, we’ll be looking for a new high.
Two levels are targets: 3585.00 & 3635.00
For that scenario to happens, Gold first have to close tonight above 3320.00
If not, it will test support at 3210.00
So as long as it stays above 3200.00, it is in bullish position.
Problem is that we live and work in extraordinary geopolitical times and one word is enough to screw up all the plans.
April PCE about as expected, monthly trade deficit much lower than expected
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