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Using my platform as a HEATMAP shows…
…a risk off mood. dollar firmer, US stocks lower, bonds firmer (yields lower)
… The Power of “50” as the tone changed after failing to follow through on moves through the “50 level
EURUD high 1.1454 and then down
GPBUSD high 1.3557 and then down
USDJPY low 142.37 and then up although now back to unchanged from a 143.27 high as mood turns to risk off
XAUUSD down after a breakout day yesterday although bouncing off its low on some safe haven flows
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BTCUSD (BITCOIN)
Two blue AT lines drawn off the 111927 (record) high indicated a potential change in direction that has played out.
Only a break of 100659 would suggest a greter downside risk
Otherwise, still just a retracement with support as long as it trades above 100659
BTCUSD (BITCOIN) DAILY CHART
Tesla – TSLA
Tesla testing support at 332.00 and so far so good.
Needs to close above 343.50 to have a chance of turning north tomorrow.
Resistances: 348.00, 355.00 & 367.70
If it manages to escape this dip in next two days, it should target 380.00
If not, correction might lead all the way to 295.00
Alphabet Inc. – Google
Now this one has a personal taste for me – and not a pleasant one.
But my feelings aside, Google is holding its nose up.
Resistances: 170.00, 171.700 & 175.10
Supports: 166.15, 162.90 & 159.50
Be aware of a possibility for Google to break up tomorrow and attack even 180.00
Don’t think that I am a Google bull – on contrary – I would gladly watch it dive below 144.00 and give us all a reason to dance and sing : O Danny Boy 😀
But we have to leave personal misunderstandings aside – it is what it is ( or – man’s got to do what man’s got to do 😀
GBPUSD Daily
Cable should hit higher tomorrow if stays above 1.35050
Resistances: 1.35950 & 1.37650
Supports: 1.35050, 1.34650 & 1.34150
Looking at it on bigger time frames, a channel is visible leading to 1.47500 over next few months.
However, for that to happen, Cable has to deal with a bunch of resistances on that road – 1.42500 & 1.43750 – most troubling ones.
EURUSD Daily
Supports: 1.13900, 1.13700 & 1.13500
Resistances: 1.14500, 1.14750 & 1.15300
For going higher tomorrow, EUR has to hold above 1.13900
Breaching that support would only delay further advances, and as long as it stays above 1.13500 it is just a matter of time
Bigger time frames are calling for 1.18 and 1.22 later on
The second quarter GDP is likely distorted by a buildup in inventories ahead of tariffs
Note:
When inventories increase, it’s recorded as a positive addition to GDP.
When inventories decrease, it’s recorded as a subtraction from GDP.
What’s Hot and What’s Not?
What’s hot?
All currencies except the dollar BUT EURUSD failure at 1.1450 has so far checked its upside.
Currencies in order of strength vs. the USD
NZD
AUD
JPY
EUR
GBP
CADGOLD is up sharply
Crude Oil opening week gap but off its high
What’s not?
US dollar vs all currencies
US stocks although bouncing off lows
Bitcoin down but still in its range
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