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US OPEN
Cautious risk tone ahead of reciprocal tariff updates on ‘Liberation Day’
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.
6 Things You Need to Know
US “Liberation Day”: US President Trump to announce reciprocal tariffs at 16:00EDT/21:00BST on Wednesday; US Commerce Secretary Lutnick speaks at 08:30EDT/13:30BST
USTR has reportedly prepared “an across-the-board tariff on a subset of nations that likely would not be as high as the 20% universal tariff option”, according to WSJ.
Stocks move lower as markets await reciprocal tariff updates on “Liberation Day”.
USD steady, Antipodeans outperform whilst Havens lag a touch.
Bonds largely in a holding pattern as we await the Rose Garden speech.
Crude is incrementally lower whilst spot gold prices remain underpinned by haven demand.
BTCUSD 4h
Support at 83.850 held nicely and in advance.
Next bar is very important – if it manages above 85.600, we’ll be seeing 87.600 shortly after.
BTC has to take it over and reach 91K in order to finally break this consolidation.
Anything else would bring us back to Yoyo phase and more of trendless waste of time.
Using my platform as a HEATMAP shows…
… the dollar not surprisingly treading water ahead of the tariff announcement
What caught my eye is EURUSD PRINTING 1.08 FOR THE 9th DAY IN A ROW… the longer this pattern goes on the greater the risk of a directional move once it is broken
XAUUSD up after holding 3100 yesterday
Light data calendar… all that matters is Trump at 4PM EDT… stay on guard for any leaks beforehand
USDCAD 4 HOUR – WHAT IS THE CAD SAYING
Maybe just some booking squaring or [perhap some hope that Canada will be spared the worst outcome?
In any case, when you see a straight line (in this case down) with no retracement it indicates real money selling.
Looking ahead, use 1.42-1.44/1.45as a reference range with only a firm move outside it giving a verdict on tariffs.
This article is worth revisiting we wait for the tariff announcement
NAS100 4 HOUR – 24 hours to go
24 for hours from now…Same for all stock markets… it will be the reaction to news that matters.
In this regard, it will be a new ball game after the close of the cash market tomorrow when President Trump will announce details on reciprocal tariffs.
On the upside, NAS100 would need to regain above 19815-20050 to suggest the low is in, at least for now.
On the downside, what matters most is the low at 18793.
GME – GameStop Corporation
Their gig with the crypto didn’t help…at all…
Kitty is Roaring, all right…but in agony 😀
23.25 & 23.95 represents two resistance levels that are going to be hard to get over.
Support at 20.75 doesn’t mean much – 18.85 & 17.70 should be ones that might provide some real support.
Below it 9.95 smiles cheerfully.
BTCUSD – Bitcoin Daily
Supports: 83.850, 82.650 & 81.500
Resistances: 85.500, 87.500 & 88.850
Bitcoin is kind of struggling, trying to turn the direction Up again.
For any real move Up we have first to see it above 91K, and that would be just a first step.
For tomorrow, I expect it to make another push Up to challenge resistance at 87.500
EURUSD Daily
Supports: 1.07750, 1.07650 & 1.07500
Resistances: 1.07950, 1.08050 & 1.08150
Very tight ranges, but we can expect lots of commotion once Tariffs hit the street.
Chart wise : this can turn both ways equally , so stay on small time frames if you feel like trading is must, and if not get some pop corns and sit back and relax.
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