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EURUSD daily
To start with the Pattern – this is Buy situation on the Daily.
It has to hold tomorrow above 1.12300 for that to work.
Realistically, it shouldn’t go below 1.12500 for my taste….
Resistance is at 1.13300 and if taken out of picture, EUR will be gunning for 1.15 first.
This is more and more game of going for 1.18 & 1.22 afterwards, but it won’t happen overnight.
NAS100 (NASDAQ) 4 HOUR CHART – What AT is saying
Watch the range: 21000-21500
While risk is still pointed up, a failure to clear 21500 for a run at the record 22224 high risks a pause.
If 21493 holds as the high, risk is for 21000-40 BUT.
If 21000-40 holds, risk stays on the upside.
If 21000-40 fails to hold, then risk shifts to the downside.
Dow Industrials Slip; U.S. Treasury Yields Continue to Rise
Retailers are split over the impact of tariffs.
A few days after Walmart warned tariffs will push up prices for American shoppers, prompting criticism from President Trump, Home Depot said it plans to hold the line on prices.
The home-improvement retailer has been pushing to shift production out of China, and is working with suppliers to keep prices steady. Shares in Home Depot inched higher in late-morning trading, after quarterly sales beat Wall Street forecasts. Some other high-profile retailers–Target, Lowe’s and TJX–are set to report results tomorrow.
Tariffs are still in flux, and have so far had a limited impact on inflation. But many economists expect the White House’s import levies to stoke price pressures in the coming months.
U.S. Treasury yields rose for the second straight day. Government bonds sold off after lawmakers advanced a huge tax-and-spending bill expected to increase deficits and Moody’s Ratings downgraded the U.S. late last week. Bond prices fell Tuesday in other countries too, notably Japan, where yields shot up after a bond auction met poor take-up.
Overseas policymakers are stepping up easing to shelter their economies from the tariff fallout. Australia’s central bank on Tuesday cut rates to a two-year low. In China, banks lowered benchmark loan rates, tracking earlier easing by the People’s Bank of China.
In recent trading:
· Stocks slipped. The tech-heavy Nasdaq Composite led the three major indexes lower. On Monday, the S&P 500 posted its sixth consecutive daily gain.
· Tesla shares gained after Elon Musk said he would significantly cut back on his political spending, and expected to remain chief executive five years from now.
· Chinese battery giant CATL made its debut on the Hong Kong stock exchange. The stock jumped 16% as CATL wrapped up the largest equity offering in the world so far this year.
· The 10-year Treasury yield briefly rose above 4.5%, before pulling back a bit. It was recently at about 4.49%.
· Overseas stocks climbed. Hong Kong’s Hang Seng Index rose 1.5%, while indexes advanced in Australia and Europe.
US10Y Chart
XAUUSD (GOLD) 4 HOUR – What AT is saying
Trying for a breakout day on a close above 3265
If above 3265, target is 3347-69 BUT…
…in any case support as long as it trades above 3250.
On the downside, only a break of the trendline and 3214 would revive a downside risk
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What’s Hot and Not Hot?
What’s Hot?XAUUSD (GOLD): Very hot: About filling opening week gap (3203) and then blasting through 3252-65 resistance
USDJPY: Down after filling opening week gap around 145.50 but off earlier low (144.08) so not as hot as earlier
EURUSD trying to heat up (i.e. back above 1.1250) after being not hot earlier but still in its range.
What’s Not Hot?
AUDUSD down after dovish RBA rate cut
US bonds with yields rebounding from early lows
US stocks down on the day
DAX
Once again DAX did everything by the book
Tried to test a support at 23.750 ( fell short of it – Low 23.898 ) and went for a new high.
Ideal target is at 24.155
You should know that above that Target/resistance , a brand new Universe is waiting….but we’ll talk about that in case DAX manages to go over.
This article is definitely worth reading or revisiting
What is the one word that makes the forex market move?
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