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Using my platform as a HEATMAP shows..
… the dollar trading firmer although except for USDJPY, all are still below Thursday’s highs
Another case where news reports look for some excuse to explain the price action
This time it is the Fed being in no rush to cut rates
EURUSD: Looks like it will break an 8 day pattern around 1.09 (bearish)… needs to stay above 1.0805 to avoid an outside week
Stocks a touch lower, US bond yields. steady, DAX is weaker
XAUUSD: Lower after no new record high today
Light news day
Tesla – TSLA
Tesla is recalling 46,096 Cybertrucks to fix a stainless-steel side panel.
Investors can follow the recall data, just so long as they don’t overreact.
For such an expensive crap, this is embarrassing – no matter what all those “analysts” and news anchors are telling you.
Technically – when it comes to charts situation is simple :
– If Tesla can’t go over 238.00 tomorrow, we’ll see another drop down.
– If it manages to conquer it and 252.00 later on, it should turn Up and come close to 305.00
Until next part becomes an issue….
DAX – GER 30
Supports: 22.800, 22.600 & 22.400
Resistances: 23.350 & 23.480
Yoyo behaviour continues – I wouldn’t be surprised to see a new high tomorrow.
Technical analysis can do as much, and right now I follow it using my feelings….so not tradable any more.
Technically , DAX should now turn south and test the supports at 22.400 and even 21.700
We’ll need few days to get clearer picture.
XAUUSD 4 HOUR CHART – What The Amazing Trader (AT) is saying
AT says: There is no reason to guess at a top until charts tell you there is a reason to do so.
Upside at risk as long as trade is above 3022.
USDCAD 1 HOUR – 2 WAY RISK
As I noted in What is this USDCAD chart telling us about tariffs? a 2-way risk has been restored (between 1.42-1.45).
On the downside, 1.4290-1.4307 needs to hold to contain the retreat from 1.4401, currently protected by a 1.4115 double bottom..
Ethereum Price Analysis: Is ETH Ready for a Decisive Break Above $2K?
Ethereum has been going through a terrible period of depreciation, as the price has been consistently making lower highs and lows. Yet, things might just be about to change.On the daily chart, ETH has been in a strong downtrend, breaking below the critical 200-day moving average and losing multiple key support zones. Prices have recently bounced from the $1,900 demand zone but face resistance near the $2,100 level.
The 200 DMA, currently above $2,800, adds additional overhead pressure, making recovery attempts challenging. Meanwhile, the RSI is climbing from oversold territory, indicating potential short-term relief. However, unless ETH regains the $2,400 area and the 200-day moving average, the broader trend remains bearish.
BOE Leaves Rates on Hold, Points to Gradual Cuts Ahead
The Bank of England left the bank rate at 4.50% on Thursday and warned of risks to inflation, partly resulting from external factors such as U.S. trade tariffs. It flagged likely gradual cuts to interest rates over the coming months as the U.K.’s economy remains weak. The next reduction could come as earlier as May, analysts say. The following is a selection of analyst comments.Declining U.K. Pay Growth Should Support a BOE Rate Cut in May
U.K. pay growth is likely to fall considerably, raising the likelihood of an interest-rate cut in May, Morgan Stanley analysts say in a note. Markets currently price in a 47% chance of a May rate cut after the BOE left interest rates on hold in a decision Thursday, LSEG data show. Most members of the BOE’s monetary policy committee probably consider that interest rates are restrictive given that the meeting minutes “noted weakness in rate-sensitive sectors of the economy,” Morgan Stanley says. “We assume that barring major upside surprises in the pay and inflation data, rates will be cut in May again.
More Than Two More U.K. Rate Cuts This Year Could Hit Sterling
GER30 4 HOUR – What is The Amazing Trader (AT) showing
2 blue AT lines (bearish directional indicator) requires a firm break below 22925 to build momentum to the 22400 area.
Otherwise, it is just consolidation.
Dollar higher as Fed signals no rush to cut rates, BoE holds rates steady
· Dollar up as Fed says in no rush to cut
· Sterling slips after hitting four-month high, BoE on hold
· SNB cuts, Riksbank on hold
· Aussie down after soft labour data, kiwi down 0.5%
· The dollar rose on Thursday after the Federal Reserve indicated it was in no rush to cut rates further this year due to uncertainties around U.S. tariffs, while the pound remained lower after the Bank of England kept rates steady.
· The Swiss franc weakened slightly after the Swiss National Bank lowered its policy rate to 0.25%, while the Swedish crown was soft after its central bank maintained its interest rate.
· U.S. policymakers projected two quarter-point interest rate cuts were likely later this year, the same median forecast as three months ago, even as they expect slower economic growth and higher inflation. On Wednesday, the Fed held its benchmark overnight rate steady in the 4.25%-4.50% range.
· “There is probably not enough in the Fed communication to build fresh USD shorts,” said ING FX strategist Francesco Pesole.
· Traders are pricing in 63 basis points of Fed easing this year, about two rate reductions of 25 bps each and around a 50% chance of a third. Markets are fully pricing in the next cut in July, LSEG data showed.
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