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Dollar Could Extend Losses Unless It Reasserts Safe Haven
The dollar is likely to extend its losses unless there is a much bigger global shock that prompts safe-haven flows to return to the U.S. currency, Monex Europe analysts say in a note. Uncertainty remains heightened after contradictory remarks from U.S. officials about tariffs at the weekend, they say. This leaves dollar risks “skewed to the downside” at least in the short term. The dollar should continue trading lower “unless and until the uncertainty begins to crystallize meaningfully, or something significant breaks.” The DXY dollar index falls 0.6% to 99.4730 after hitting a three-year low of 99.0140 Friday.
EURUSD Technicals
EUR/USD: Euro Extends Rise to Third Day in a Row as Tariff Confusion Knocks US Dollar
he euro is stretching its legs and flexing its muscles — and the dollar’s tripping over tariff drama. EURUSD climbed for the third day in a row Monday morning, brushing up against the $1.14 handle, as forex traders waded through a haze of policy headlines, trade war whispers, and good old-fashioned uncertainty.
DAX – ger30
DAX has stalled in front of 21K , and Downtrend is still very intact.
Supports come at : 20.150, 19.800 & 19.000
We need first to see creation of the proper bottom, before we can expect real advances Up.
As long as DAX stays away from previous lows, it should consolidate and we’ll have clear picture.
EURUSD Daily
Supports: 1.13100, 1.12950 & 1.12400
Resistances: 1.14250, 1.14750 & 1.14950
As long as 1.12950 holds, we are on the way to 1.17450
This rally, that started on 02.April 2025. can get into some kind of a consolidation and even correction, and it wouldn’t change the fact that EURUSD is Bullish, but right now seems that it is going straight for 1.17450….
US OPEN
Sentiment boosted by tariff exemptions, with NQ +1.7%, but USD extends losses
Good morning USA traders, hope your day is off to a great start! Here are the top 6 things you need to know for today’s market.t
6 Things You Need to Know
US President Trump’s administration exempted items from reciprocal tariffs including smartphones, storage devices and some other electronics.
However, Trump posted on Sunday that there was no tariff exception announced on Friday and that these products are subject to the existing 20% fentanyl tariffs and are just moving to a different tariff bucket.
European bourses open higher as markets digest exemptions on smartphones/electronics; US futures also gain.
DXY on the backfoot once again and G10s broadly supported with newsflow on the quiet end.
Bonds diverge once again but are contained with specifics light thus far; USTs a little firmer whilst Bunds dip.
Crude contained, gold wanes, base metals supported given the positive risk tone.
XAUUSD 4 HOUR CHART –TAKING A BREATHER
For this chart’s consolidation pattern (which shows potential for a top but one that is hard to bet on given the strength of trend) to turn into a retracement 3200-10 would need to be taken out… for this to occur it would probably need more easing on the tariff front… in any case, expect support on dips while above 3200-10.
On the other side, tor a fresh leg into uncharted territory 3245-50 would need to be taken out and established as new support.
Using my platform as a HEATMAP shows…
… the dollar trading broadly weaker as..
… markets open the week in a risk on mood with stocks trading higher after exemptions announced on on U.S. imports of electronics and other products.
Price action shows how sensitive markets are to any glimmer of hope in this tariff saga.
Good gas backed off but still bid above 3200
US bond yields have back a touch
Empty dats calendar todays watch headlines for any tariff related news
As one of our members reminded us
dont forget this is a “short” week with Easter. Good Friday and Easter Monday in UK are holidays
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