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US OPEN
NQ bid ahead of NVIDIA earnings; USD gains & copper benefits on Trump tariff investigations.
Good morning USA traders, hope your day is off to a great start! Here are the top 4Â things you need to know for today’s market.
4 Things You Need to Know
European bourses gain and currently reside at highs; US futures also stronger with NQ outperforming ahead of key NVIDIA results.DXY attempts to claw back recent losses, EUR/USD lingers around 1.05.
USTs are off lows but remain in the red while EGBs inch higher.
Crude choppy, gas subdued, but metals hold a positive bias as the complex digests Trump tariff investigations into copper.
EURUSD DAILY CHART – -1.05 trading pattern
1.05 level has traded for 5th day in a row (and 7 out of past 9 days)
NOTE 1.05 is one of my key pivotal levels. The longer the pattern around a pivotal level goes on the greater the risk of a directional move once it ends.
Current range -1.0400/50-1.0530/34
Using my platform as a HEATMAP
Dollar trading a touch firmer bu
EURUSD continues its trade around 1.05
USDCAD remains bid awaiting the March 4 tariff deadline
AUDUSD slips after CPI raises talk of another rate cut
Stocks up a touch waiting for Nvidia earnings after the close
Trump holds first cabinet meeting, watch for headlines
Tesla – TSLA
Something to spice up this dull EUR morning…
Tesla Has Lost $400 Billion In Value During Trump Presidency. What the Charts Say Comes Next
Data Shows Europe Sales Are Down 45%
Charts are clear – Tesla tried to hold on 350 level, but banana slide was too slippery for it.We are looking at 255 as a potentially base building level, unless….Tesla just slides through it as well.
Some support might be seen between 295 and 310, but resistance at 325 is looming dangerously.
For those of us that are endlessly in love with V6 Turbo engines it is a very pleasing development, but those of you that hold  this losing stock is painful…I know…time to change your driving habits…
Stagflation is a dirty word in a central bank’s handbook. Given recent U.S. economic growth concerns while inflation remains sticky, it is a good time to take a closer look at stagflation and what it might mean for the markets.
Is Stagflation a Risk for the U.S. Economy and How Would Markets React?
Out a bit earlier… giving EURUSD some support as market starts to factor in the Russia-Ukraine war end game
NAS100 DAILY CHART –  Can it avoid an outside month?\
NAS100 needs to stay above 20834 to avoid an outside month. This is the key level into month end as a close below it would produce an outside month key reversal.
Back above 21340, at a minimum, is needed to slow the risk.
The market may take a breather on Wednesday awaiting Nvidia earnings after the close.
XAUUSD 4 hOUR CHART – No outside week
I posted this earlier
Looking at this chart and trying to be objective, it has taken a lot of effort just to extend the record high from 2942 to 2956.
This would normally suggest a tired trend but given the failure to follow through on retracement attempts, it is hard to suggest anything but a pause until the pattern changes.
In this regard,
–     Would need to establish 2950 as support to send a signal for a run at 3000–
–     Would need to move below 2878 (last week’s low) to break the 9 week up pattern,
Update: Low so far 2888 but would need at least to regain 2916+ to slow the retracement risk and 2945+ to negate it.
USDCAD 4 HOUR CHART Â Tariff Roulette
Clearly an underperformer along with AUD and NZD weaken vs the USD in a risk off market as it continues to feel the impact of Trump’s tariff on track comments on Monday..
Above 1.4300-05 exposes 1.4340-75.
Keeps a bid while above 1.4200-40, stronger if above 1.4300-05
Keep an eye on headlines as the March 4 tariff deadline nears.
XAUUSD – Gold
Gold came very close to the support at 2880.00
Now I have seen some crazy moves in my carrier, but never really an instant come back from a dive like this.
It is possible of course, but Pattern wise – if tomorrow Gold hits straight up again, and doesn’t break to the new high , it will be just mere dying fish reaction – and then it will start downwards.
It was overdue for a decent correction for quite some time, so let’s see how it develops.
Supports: 2880.00, 2805.00 & 2735.00
Resistances: 2915.00, 2935.00 & 2955.00
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