22.200 – Major support needs to hold if DAX is to continue Up right now.
Current pattern signals a Sell off , but in my experience stranger things happened then if DAX is to continue Up from around here. Just saying what I know…
If this drop was a result of a savage profit taking, it wouldn’t surprise me to see 22.200 holding and DAX continuing its trip…
But we can’t know that, so we have to be ready for trend change.
21.450 is another strong point that can provide footing to it.
EURUSD sell on EURGBP sell order gave a buying opportunity treating it as a correction … I have discussed this many times… contact me if you want more info
Reaction to news is what matters… EURUSD reacting to German defense spending need
Carefully now – I said yesterday that fundamentals will drive DAX Up in the future, but this might be a perfect time for profit taking and some correction – be it a sideways or more deeper…
As long as DAX stays above 22.550 , 22.400 & later on 22.200 it is extremely Bullish.
Summary
Weak Japan, Chinese currencies ‘unfair’ to U.S., Trump says
Solution to weak-currency policies is tariffs, Trump says
Japan says it is not adopting policies to directly weaken yen
China keeps guiding yuan firmer
March 4 (Reuters) – U.S. President Donald Trump said he told the leaders of Japan and China they could not continue to reduce the value of their currencies, as doing so would be unfair to the United States. …/..
1.05650 represents a minor resistance level now, and more interesting is 1.06050.
One possibility is that this whole situation ends up as a big SHS pattern.
In my own opinion, we are already on the road to 1.09, but as I said yesterday – lots of fundamentals are in the cards and before it all passes we should take it one day at the time.
China imposes retaliatory tariffs, US futures modestly lower and USD hit ahead of Trump’s State of Union Address
Good morning USA traders, hope your day is off to a great start!
Here are the top 5Â things you need to know for today’s market.
5 Things You Need to Know
Canada said it will impose retaliatory tariffs on US imports from Tuesday. China announced additional tariffs of up to 15% on some US goods from March 10th.
European bourses hit as the region reacts to the latest Trump tariffs; US futures modestly lower.
USD remains on the backfoot, EUR digests defence spending pledges, havens firmer.
Bonds bolstered by growth concerns and tariff updates despite pressure from block trades & EU spending.