EURUSD 1.040x
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donald better be careful (or someone needs to supervise him) with his bravado – “will do this , will do that, 25% tariff on day 1” – and NOT delivering on it. Market is bigger than someone’s bluster and if the vigelantes decide they had nuff there ll be good sized price to pay coz showing weakness like donald is doing now with his tariff topsy-tipsy-curvy is playing with credibility.
Another day, another test of trendline – and again failure…
Yesterday a question was raised : what is a Firm break – it is when they manage to close above/below the trendline , and at best twice in a row.
Now twice it failed….
Look at that yellow MA – I know…it means nothing to you…but to me it is a world.
If EUR manages to close tonight just above it, tomorrow we’ll be seeing a sharp leg UP, and most probably a final break of the trendline in that case.
But if it closes just below it – another leg down.
Pay attention to “just above/below” – exactly that…anything else would be no mans land.
As I stated days ago – 1.03500 is the pivotal point, and as long as EURUSD plays around it , both ways are possible. All Bets are OFF Only on the decisive break of 1.04350 and capability of the pair to stay above it.
US futures edge higher, DXY bid whilst CAD & MXN take a hit as President Trump signals tariffs.
Good morning USA traders, hope your day is off to a great start! Here are the top 4 things you need to know for today’s market.
4 Things You Need to Know
European bourses are modestly firmer, US futures edge higher with the RTY outperforming ahead of the first full day of trade as Trump returns to office.
USD bounces back from Monday’s selling as tariff threats loom; the Loonie underperforms as Trump signals tariffs on Canada & Mexico.
Benchmarks have pared initial early morning upside, with USTs a little firmer whilst Bunds dip into the red.
Crude and base metals on the backfoot amid Trump tariff rhetoric.
Euro 1.04 (HoD 1.0430 so far)
DLRx 1.08 (LoD 1.0775)
I have not seen anything from donald that should change the rotation of plant
What I am looking at is … how stacked long dollar is the market
with the puppy below 108.90 market suggests, to me, some pricing correction is happening
Degenerate traders in a bit of teasing mode atm and imo.
Nothing tragic about the dollar just yet.
A market on hold waiting for the inauguration of President Trump and a slew of executive orders to follow.
For the FX market, the focus will be on anything related to tariffs but I have not seen any talk of it in the press.
The heatmap, meanwhile, shows the EURUSD as an outperformer with the GBP and JPY lagging out of respective EUR crosses.
The main action has been in cryptos with BTCUSD surging higher to a new record high (marginally so far). The $Trump memecoin has been the talk of the press but I will leave my opinion on something that has no intrinsic value for another time.
Otherwise US markets are closed today, liquidity is thin and it is now just a wait until the new Trump era begins.