[Belgrade Bobby]

Nvidia – NVDA

Nvidia is going for 97 area

Resistances: 103.65, 106.50 & 108.00

Supports: 97 & 96.40

[Belgrade Bobby]

DAX – ger30

I said it on April 1st. And it was no joke…

Unless some miracle happens it should fail and go for 21.750

Now target has been reached and breached, and unless DAX goes tomorrow immediately above 21.750 we’ll be looking at range in 20.050 – 21.750 area.

Right now first target is at 21.450

[GVI Forex 2]

NAS100 4 HOUR – Benign neglect

The lack of concern by Trump &Co. over what they call short-term pain has helped fuel an already shaky market over the ledge.

On the downside, see the chart for key support levels (18294, 17235, 16958) but more important is there should be offers lying in wait on any decent bounce

[GVI Forex 2]

US500 WEEKLY CHART = Tariff driven meltdown

Keep this simple… there will be offers above the market on any decdent bounce unless there is news nd/or 5500+ is regained.

Going strictly by the weekly chart, 5382 stands in the way of a void to a major level at 5087.

[ST London]

It seems the US wanna buy dollars Asia the opposite and London is just trading

[GVI Forex 2]

XAUUSD 4 HOUR CHART – Consolidation?

Outside day but no close below 3100 leaves this level as a bias setter

Expect choppy trade while within Thursday’s 3054-3167 (record high) range but only a break of 3050-54 would suggest anything more than consolidation.

[GVI Forex 2]

Here’s a tidbit

I saw an esimate that the cost of a car made in Ameruca will increase by $3200 and a foerign import by uop to $15000

I heard a car dealer exec say that “As the cost of a car goes up, we sell less cars.”

[GVI Forex 2]

Looking at an AT chart, EURUSD support at 1.1023 is a key level

[GVI Forex 2]

I suggest scrolling down and reading my article on liquidating markets. It will help to put today’s price action in perspective.

[GVI Forex 2]

EURUSD 15 MINUTE – Amazing Trader support holds

Held support at 1.1039…1.1050 back to being pivotal

[GVI Forex 2]

Canada imposes auto tariffs

Try Newsquawk free for 7 days

[GVI Forex 2]

Trump not backing down

Try Newsquawk free for 7 days

[GVI Forex 2]

It looks like FX liquidation may have run its course for today.

[GVI Forex 2]

XAUUSD is back above 3100 after finding buyers above 3050 (Power of 50) after whatever liquidations ran out of steam.

[Mtl JP]

yakker on deck
14:30nyt – cook (on Economic Outlook)

[Mtl JP]

CNBC
“Trump will ‘buckle under pressure’ if Europe bands together over tariffs: German economy minister”

[Mtl JP]

10am in NY
ISM yingyang

and Yield | 10:01 AM 4.01% — down still

[GVI Forex 2]

This article is worth a read as it describes today’s price moves with insights you will likely not find elsewhere

What is a Liquidating Market and How to Trade It?

[Mtl JP]

10-yr Yield | 9:06 AM EDT
4.019% down -0.176

lower yield is a headwind to the demand for usd

[ST London]

UsdJpy

Just amusing of a stupid old fool I just wonder whether we could see 143 by the end of the week clearly once the US market closed and the Asian market opened last night we had a trend day which you have frequently described as being a liquidation day

Should we get 143? It would obviously be an access move on one could play a contra trade.
Depending on the speed that it gets there

[Belgrade Bobby]

Mtl – all that is fine, but there are two very important facts to think about:

–          Is EU really strong enough to play the game ( I don’t think so)

–          Trump said several times very clearly : we are not going to let those leaches suck our wealth through fixed currency rates – in my personal translation – Weak Dollar

So we either wait and see or someone teaches Trump the lingua of markets

[GVI Forex 2]

I added an addendum to this article after the reversal in XAUUSD made it a victim of collateral damage…

How was GOLD (XAUUSD) a victim of collateral damage?

[Mtl JP]

Bobby / the current market bias is UP for the euro which is UP vs the dlr a tad over 2%
solid sub-1.0950 would likely be needed to tame current bias.

sofar, maybe notably, european suits have not launched counterattack tariffs blabbing that they are open to negotiations. Saw a headline that EUs trade ministers to be meeting next week. Players apper to have reprice ECB rate expectations somewhat all the while gumflapping from policymakers appear to try to remain cautious about rates in the s/term at least

[Belgrade Bobby]

EURUSD Weekly

Now this is going to give us some real perspective on future moves..

1.12950 is again ( same as on daily) a very important level and in my opinion that one will be the answer to “  are we going to 1.17850 and even 1.21450” or we going to hit the wall at 1.13 area and go back to the Downtrend.

What I don’t like is today’s rally – too much , too fast – and usually it happens as a blow of rally…but taking into account reasons behind the move, and Formation that is becoming clear we are on the road to much higher levels.

[Belgrade Bobby]

EURUSD Daily

340 pips Rally – nice, but is it sustainable or we can see next move in opposite direction and with the same force?

Here comes the Daily chart

First support is at 1.09550, followed by 1.09250 & 1.08850

Resistances are at: 1.11450, 1.12150 & 1.12950

1.12950/1.13 is what we have to glue our eyes at.

[Mtl JP]

heading into NY session
USD is on back foot.
10-yr 4.059.
one could argue significantly. circa 3% vs euro. copper is down as is oil. one could read opposite meanings from copper and from oil, but also same ideas about slowing economy prospects.

on deck
intial jobless claims, ISM services and Friday NFP

[Mtl JP]

re 12:09 / President Trump, also earlier, said that IF some politicians apply retaliatory tariffs, he will squeeze their heads

[GVI Forex 2]

This came out earlier

Try Newsquawk free for 7 days

[GVI Forex 2]

This will do little to calm markets

Try Newsquawk free for 7 days

[GVI Forex 2]

Using AT logic, the EURUSD spike to 1.1147 suggesrs the high is most likely in for the day… 1.1050 now pivoital… keeps a bid while aboe 1.10

[Author]

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