US NATGAS: Northeast EOD – Forecasts Shed CDDs and Added HDDs

US President Donald Trump is shortly due to hold a joint press conference with Israeli Prime Minister Benjamin Netanyahu at the White House. LIVESTREAM. Today's visit is Netanyahu's second since Trump took office in January. 

• Haaretz speculates that the meeting is designed to give Trump a political win amid the fallout from his tariffs: "The planned meeting between U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu on Monday is unusual, not only because it was arranged last minute, but mainly due to the reversal of circumstances. It isn't Netanyahu who needs Trump this time, but rather Trump who needs Netanyahu."
• The New York Times notes: "Looming over the meeting this week is a point of tension: Mr. Trump’s sweeping tariffs, which did not spare Israel. Mr. Netanyahu’s office said the two men plan to discuss the tariff issue, the war in Gaza, Israel-Turkey relations, Iran and the International Criminal Court."
• Netanyahu said on the tariffs: “I can tell you that I am the first international leader, the first foreign leader, who will meet with President Trump on the issue, which is so important to the Israeli economy. There is a long line of leaders who want this regarding their economies. I think that it reflects the special personal link, as well as the special ties between the U.S. and Israel.”

• RES 4: 151.30 High Mar 3   
• RES 3: 150.43/151.21 50-day EMA / High Mar 28 and reversal trigger 
• RES 2: 149.12 20-day EMA
• RES 1: 148.18 Low Mar 20 
• PRICE: 147.73 @ 16:50 BST Apr 7
• SUP 1: 144.56 Low Apr 4  
• SUP 2: 144.13 76.4% retracement of the Sep 16 ‘24 - Jan 10 bull leg
• SUP 3: 143.43 Low Oct 2 ‘24
• SUP 4: 142.95 1.00 proj of the Feb 12 - Mar 11 - 28 price swing

USDJPY maintains a softer tone following last week’s sharp sell-off and is trading just ahead of its recent lows. A resumption of the downtrend and a break of Friday’s 144.56 low would signal scope for an extension towards 144.13, a Fibonacci retracement point. Initial firm resistance to watch is 149.12, the 20-day EMA. Short-term gains would - for now - be considered corrective.     

• RES 4: 0.8628 1.500 proj of the Mar 3 - 11 - 28 price swing      
• RES 3: 0.8604 1.382 proj of the Mar 3 - 11 - 28 price swing  
• RES 2: 0.8593 High Aug 14 ‘24
• RES 1: 0.8580 High Apr 7
• PRICE: 0.8571 @ 16:49 BST Apr 7 
• SUP 1: 0.8432/0.8380 Low Apr 4 / 20-day EMA 
• SUP 2: 0.8316 Low Mar 28 and a key near-term support
• SUP 3: 0.8299 Low Mar 5   
• SUP 4: 0.8251 Low Mar 4

EURGBP maintains a bullish tone. The latest rally has resulted in a break of key resistance at 0.8474, the Jan 20 high. Clearance of this hurdle highlights an important technical breach and strengthens a bullish condition. Sights are 0.8593 next, the Aug 14 ‘24 high. On the downside, firm support lies at 0.8380, the 20-day EMA. The contract is overbought, a pullback would allow this condition to unwind.