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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
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.
EURUSD 4h
It is still undecided, and after being rejected at resistance 1.08250 lacks a conviction of downward momentum.
Pattern calls for more Down episodes.
Resistances: 1.08150, 1.08250 & 1.08600
Supports: 1.07800, 1.07650 & 1.07500
Guess before we hear that Reciprocal Tariffs Plan tomorrow night, we’ll be seeing more of this “Sideways to Nowhere”
US OPEN
US equity futures lower whilst DXY is flat, reports suggest that White House aides have drafted a proposal to impose tariffs of around 20%
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 Treasury Secretary Bessent said President Trump will announce reciprocal tariffs at 15:00EDT/20:00BST on Wednesday.
US President Trump says maybe Tuesday night or Wednesday you will see tariff details and we are going to be nice in comparison to other countries, adds in some cases maybe substantially lower.
European bourses gain and reside near session highs whilst US futures trade modestly on either side of the unchanged mark.
USD slightly lower but with price action fairly contained ahead of “Liberation Day”, EUR little moved by EZ HICP.
Bonds bid into April 2nd but USTs and Bunds remain around/shy of Monday’s peaks.
Choppy trade for the crude complex, but base metals largely supported by Chinese Manufacturing PMI.
Dollar struggles for direction before Trump’s reciprocal tariffs, awaits data
Investors brace for Trump’s reciprocal tariffs
Markets subdued amid uncertainty
Euro drops as markets bet on a rate cut in April
Aussie flat after RBA decision
Markets will monitor the U.S. Job Openings and Labor Turnover Survey (JOLTS) and the ISM manufacturing index later in the session, both of which could provide further insights into how uncertainty in U.S. trade policy is hurting the economy.
Trump announced late on Sunday that virtually all countries would face new tariffs this week, though he provided no specific details, leaving currency markets in a cautious, subdued state.
European Commission President Ursula von der Leyen said EU was open to negotiations with the U.S. on trade, but would retaliate strongly if necessary.
The dollar index DXY, which measures the U.S. currency against six rivals, was 0.05% higher at 104.24.
DXY Technicals
Using my platform as a HEATMAP shows
… a calm before the Liberation Day storm
Dollar more or less steady and cautious
EURUSD 1.08 has traded for 8th day in a row
USDJPY backed away from 150 but still well above yedterday’s 148.70 low
U.S. bond yields lower (10 year 4.18%)
U.S. stocks cautious
Gold sets another record high
Looking ahead, US ISM PMI
