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Using my platform as a HEARTMP shows
… the dollar trading back towards square one (except vs a weaker GBP) … started off weak, reversed direction… on an apparent stop hunt, neither side so far\ following through.
GBP the underperformer after taking a hit on the UK jobs report
EURUSD extended its trade around 1.14 to 7 days in a row
GOLD took a hit early on risk on that did not follow through.
US stocks firmed earlier but here, too, did not, follow though
Markets are in a wait and see mode waiting for news from the US-China trade talks.
Advanced Micro Devices Inc. – AMD
AMD finally broke above long term downtrend dating back from March 2024.
Next hurdle is this channel line just above the head at 122.40
If AMD gets above it, we’ll have inverted SHS formation and the road would be open for much higher levels – let’s just mention 250.00 for a fun of it J
Support is at 115.00
RobinHood Markets Inc. – HOOD
Robinhood dropped like a rock after SP 500 Index decided to skip on it this time.
But what a comeback – one bullish pattern emerging tonight , and with or without exclusive membership Hood can rock…
Support at 73.00 with the resistance at 75.00 – if tomorrow resistance taken out , RobinHood will target 80.00 and above.
That would be some revenge 🙂
Nvidia – NVDA
Nvidia didn’t do anything spectacular today, but it did reach the new high in this current rally.
Last three days it is repeating the pattern – hits high and closes back below the open of that day.
That’s kind of the new strategy J
So for tomorrow support is at 142.00, resistance 145.00
As long as it continues to drive to the new high every day / every second day, it will continue Up.
XAUUSD – Gold Daily
Supports: 3295.00, 3280.00 & extension at 3245.00
Resistances: 3340.00, 3365.00 & 3405.00
If Gold manages tomorrow to overcome 3340.00 , it will be in a position to reclaim Bullish trend and attack 3450.00.
Overall it is very Bullish and if this scenario works out, it will target at least 3605.00
EURUSD 4h
After testing sub 1.13950 support area, EUR is nesting above current support at 1.14150.
If it holds next 3h, EURUSD will be in a perfect position to attack first 1.14400 and 1.15000 afterwards.
It is late in the game for today, but once it establishes a footing, it can just continue tomorrow.
Still watch that 1.13950 – below it would negate this scenario.
DAX
DAX once again failed to overcome serious resistance at 24.500, and now is testing supports.
Supports: 24.095, 23.965 & 23.750
This last one – 23.750 represents a level that needs to hold for DAX to continue being bullish on the daily.
If below, risks revisiting 23.150 and getting into the full correction mode.
Strategy adds 1,045 Bitcoin for $110M in latest purchase
Strategy has acquired $110.2 million worth of Bitcoin as the price trades near its all-time high level.
According to a Monday US Securities and Exchange (SEC) filing, Strategy acquired 1,045 Bitcoin (BTC) at an average price of $105,426 per coin. The company now holds 582,000 BTC acquired for about $40.8 billion at an average price of around $70,086 per BTC.
The announcement follows Strategy co-founder and executive chairman Michael Saylor hinting at the purchase on June 8. The buy marks the ninth consecutive week that Strategy has acquired Bitcoin.
News of the latest purchase comes as Bitcoin approaches its all-time high. According to CoinMarketCap, Bitcoin traded at $107,640 at the time of writing, just 3.9% lower than the all-time high of about $112,000 reported in May.
US Dollar Index Pares Losses
The US dollar index pared earlier losses to trade largely flat around the 99.1 level on Monday, as traders closely monitored US-China talks taking place in London.
The meeting follows a phone call last week between President Trump and President Xi, reviving hopes that trade tensions might begin to ease.
Investors are also awaiting key economic data, with CPI and PPI reports due later this week expected to shed light on inflationary pressures and the broader impact of the ongoing trade war.
Despite Monday’s stabilization, the dollar remains near its April lows—the weakest levels since 2022—amid growing concerns over the economic effects of President Trump’s trade and fiscal policies, which have led to a shift away from US assets.
On the day, the greenback was mostly weaker against the yen and the Australian dollar.
DXY Chart
SocGen’s Overnight Economic News Summary
Societe Generale in its early Monday economic news summary pointed out:
— US dollar trims nonfarm payroll (NFP) gains, front-end yields soft. Long-end steady ahead of United States consumer price index, 10- and 30-year U.S. Treasury auctions. Pricing of Federal Reserve rate cuts dwindle after solid private NFP on Friday. President Trump: decision coming out ‘very soon’ (on next Fed chair).
— Japan balance of payment data: funds sold net 1.07 trillion yen of USTs in April, the most since October. Investors also liquidated 1.475 trillion yen Bunds, the most since 2014, bought OATs and sold BTPs.
— ECB’s Nagel: can’t say if rate cuts are over, rates now in neutral territory. European Central Bank Governing Council member Schnabel: trade conflict would dampen domestic inflation, more persistent inflation components are coming down.
— China’s CPI unchanged in May at -0.1% year over year, extends outright deflation to a fourth month. Producer price index deflation worsened to -3.3% year over year.
— CFTC positioning: long euro steady at 10.6% of OI, long yen trimmed to 41.3%, sterling longs reduced to 15.1%, Australian dollar shorts lowered to 31.7%, Canadian dollar (CAD or loonie) shorts raised to 40.2%, Swiss franc shorts trimmed to 32.1%, Mexican peso longs upped to 38.2%
— Week ahead: U.S. CPI, U.S. Treasury sells 10y- and 30-year bonds. Michigan confidence. ECB wage tracker. United Kingdom labor market data. CPI for Norway, India, Mexico, Brazil, Colombia, Hungary and Romania.
— Nikkei +0.9%, EUR 10-year IRS steady at 2.57%, Brent crude -0.2% at $66.3/barrel, Gold +0.3% at $3320/oz.
Nikkei Chart
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