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EURUSD WEEKLY CHART – TARGETS
As I have been noting, target were at 1.0665 and 1.0600.
As youc an see by this chart, should 1.0600 be firmly broken, then 1.0500-15 and the 2023 high at 1.0446 would come on the radar.
On the upside, back above 1.0630 (yesterday’s high_ and 1.0665 would be needed to ease the risk.
XAUUSD DAILY CHART – WATCH 2600
Reversal of fortune: Bitcoin up, Gold down
If I had to pick a target for the XAUUSD retreat it would have been 2600, which has been tested as the retreat from the record high continues. Low so far 2595.
So 2600 now becomes the pivotal level that needs to become support or next risk is for another $50-55 on the downside.
The straight line move down has left resistance far away so using other time frames, 2626/43/75 are some levels to watch.
XAUUSD DAILY CHART – WATCH 2600
If I had to pick a target for the XAUUSD retreat it would have been 2600, which has been tested as the retreat from the record high continues. Low so fasr 2595.
So 2600 now become the pivotal level that need to become support or risj is for another $50-55 all to the downside.
The straight line move down has left resistance far away so using other time frame, 2626/38-43/75 are some levels to watch.
NAS100 4 HOUR CHART – ANOTHER RECORD HIGH BUT…
Another day, another record high but we know nothing goes one way forever so keep an eye on the 21000 level as below it would at least argue for a pause.
One way to focus on stocks is to look at U500 6000 as that is a good indicator for equities in general.
In any case, it would take a lot to reverse the trend so expect support within 20500-21000 in case the march higher takes a pause.
NIO
NIO Stocks Are Falling. Why China’s Stimulus Disappointed?
Investors soured on China stocks Friday after Chinese authorities unveiled additional measures to shore up its economy.
The market reaction today suggests that investors had been hoping for more sweeping measures, potentially including capital injections into banks to nudge them to lend more.
