[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Mike Dolan

As the week’s tariff rollercoaster levels out a bit, Wall Street stocks are tilting lower again – clouded by a poor reception for Alphabet (NASDAQ:GOOGL)’s results, lingering China tariff hike plans and fresh interest rate rise speculation in Japan.

U.S. stock futures were back in the red ahead of Wednesday’s bell as shares in megacap Alphabet plunged 7% overnight. The drop came amid doubts about the Google parent’s cloud computing business, much like Microsoft (NASDAQ:MSFT) last week, and anxiety about its huge investment in artificial intelligence – especially in the light of last week’s DeepSeek news.

Morning Bid: Alphabet flubs, Yen surges, China Return

[GVI Forex 2]

NEWSQUAWK US OPEN

USD lower and Bonds gain ahead of ISM Services, NQ hit as China mulls a probe into AAPL, GOOGL -7% post-earnings

Good morning USA traders, hope your day is off to a great start! Here are the top 5 things you need to know for today’s market.

5 Things You Need to Know

European bourses mostly lower; NQ underperforms with GOOGL -7% & AMD -8% post-earnings, AAPL -2.5% as China mulls a probe on its App Store.

EU prepares to target US big tech if US President Trump pursues tariffs against the EU, according to FT.

Dollar dragged lower again, JPY is boosted by wage data, EUR/USD above 1.04.

Bonds bid as AAPL reports hit sentiment and into Bessent’s first Quarterly Refunding.

Gold continues to print record highs on lingering uncertainty; crude on the backfoot despite the firmer Dollar.

Try Newsquawk for 7 Days Free

[GVI Forex 2]

Trump cooling the sabre rattling against Iran

source: Newsquawk.com

[GVI Forex 2]

GBPUSD DAILY CHART – Not on the hit list

Outside week

GBP benefiting from not being on the US tariff hit list and so far ignoring an expected 25bps rate cut tomorrow by the BOE.

To keep a strong bid, needs to stay above 1.2500-23

Chart shows resistance at 1.2575-1.2610 but 1. 2550 is likely to be pivotal if it makez a run at it or slips back towards 1.25.

[GVI Forex 2]

XAUUSD 4 HOUR CHART – Unchartered territory

There is no reason to guess at a top when in uncharted record high territory.

If I had to guess at a possible pause area it would be 2880-00

Keeps a bid as long as it holds 2830-50.

[GVI Forex 2]

USDJPY DAILY CHART – BREAKDOWN

Downtrend picking up steam

Sell bias while below 153.70

Back above 153.14 needed to slow the risk to 150-152.

Timely warning from London ST last night

[GVI Forex 2]

Using my platform as a HEATMAP

USD is down across the board, led by the JPY (breaka below 153.70 and 153.14)

Outside week in USDCAD but still above 1.4260

Outside week in USDMXN by just one pip (double bottom around 20.29-30)

EURUSD completes 61.8% retracement at 1.0410 (high 1.0417), next res 1.0434

Gold continues its march into record high territory

Trade war with China heats up, EU threaten retaliation against tech

US stocks slip

US 10 year currently below 4.50%

 

[GVI Forex 2]

Why?

Why Do Prop Trading Firms Offer Discounts?

[ST London]

Picture tells a story. Our focus is EurJpy but we are keeping a close eye on this major (UsdJpy) for obvious (downside) reasons.

[GVI Forex 2]

NAS100 4 HOUR CHART   Will Key levels come om the radar?

Gap filled and now needs to make a run at key resistance at 21812-21908 or risk disappointment.

To keep the current bid, 21104 needs to hold as support.

[GVI Forex 2]

US500 4 HOUR CHART –  Gap filled but not enough

Opening week gap filled but would need to regain 6932+ to put the .6100 area back on the radar.

Otherwise, 6000 remains the pivotal bias setting level within a broad 5900-6100 range.

 

[GVI Forex 2]

XAUUSD 4 HOUR CHART – ANOTHER RECIORD DAY

New record high (2845), close to our next target at 2850 (beyond that is 2880-00)

To keep 2850 on the radar, 2830 needs to become support.’

In any case, keeps the bid as long as it trades above 2800-07.

[Belgrade Bobby]

DAX – GER30

Dax is still my hero – in spite of all the political upheaval in last couple of days, it is managing to stay above the channel trendline at 21.230.

Now resistance is at 21.500

If survives up here it will target 22.000

[Belgrade Bobby]

NIO Inc.

Nio started nicely Up, but got cut short at 4.50 – downtrend channel line.

For another attempt at it , needs to stay above 4.30 in coming days.

However if 4.10 lost faces a drop to 3.75 and 3.60 – important horizontal support.

[Belgrade Bobby]

SOLUSD – Solana

Is it ready to break sharply Up ?

Resistance at 220.00 & 240.00

Support at 180.00 & 170.00

It was scooped up just below 180, and on its own it represents a significant fact.

On the big picture it is in an Uptrend and needs to get bullish momentum going any time now.

[Mtl JP]

OPINION on cnbc
–
JPMorgan says U.S.-China trade war will escalate, bar is too high for truce
Published Tue, Feb 4 202512:09 PM ESTUpdated 49 Min Ago
Lisa Kailai Han

[Mtl JP]

Trump playing golf again ?

wsj – Trump Tariffs: U.S. President, Xi Won’t Speak Tuesday After China Retaliates
President Trump and China’s Xi Jinping won’t speak Tuesday, a U.S. official says, after both countries moved to impose tariffs
Last Updated: Feb. 4, 2025

[GVI Forex 2]

USDJPY 4 HOUR CHART –  Watch 155

Failed to test 156… puts 153.70-00 back on the radar while below 155, which is the clear bias setter

Looking at longer-term charts, momentum is still down while below 155.95-00 but consolidating while above 153.70 (key level is 153.15) .

[Topnine]

This an all buy time for GOLD (XAU/USD) as it is not relenting in its continuous buying power. This week Friday 7th February 2025 is NFP (Non farm payroll ) release date and market is set to be volatile that day. Even days before we will see abnormal market behaviour. We saw a gap of 50-100 pips in some currency pairs upon Market opening this week.

This is testament to the volatility we are about to experience this week and beyond. The gold went on the lowest at price 2806 this morning and ever since went on a buy. It has ever since been buying and it got to a high of 2845. I see market reching around 2853 and beyond today. The upward movement does not seem to want to wane so soon. I see a continued buying power of the gold.As i said earlier gold has been buying since 1996, go and check your hourly chart on the gold to confirm this.

However, let us tread with caution and let’s place minimal trades with strong SL and TP. Don’t Trade more than 2-5% of your capital. A word is enough for the wise.

Thanks
TOPNINE.

[GVI Forex 2]

EURUSD FIBOS FOR 1.0533 -> 1.0210 … High 1.0386…
Using our Fibonacci Calculator

[Author]

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