USD: The Dollar is pushing into the Red against the Majors
Jun-04 07:41
- From a flat overnight start for the Dollar, to now tilting in the red against all the majors, albeit all in small for now.
- The EURUSD has traded either side of 1.1400 in the past 2 sessions, and is now eyeing back a test above 1.1400.
- In Terms of Option Expiries, there's 1.08bn at 1.1400 Today, 2.24bn at 1.1400 Tomorrow, and ~1bn at 1.1400 Friday.
- The Stokkie and the Nokkie are now the best early performers within G10 Currencies.
- The USDNOK is still seeing the initial support at 10.0500, this was the May's low and lowest printed level since July 2023, although all Market Participants will be watching for any test to the Psychological 10.0000 level.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
AUD: Best performer within G10s
May-05 07:14
- While just off its best level, the AUD is still the best performer against the Dollar within G10 Currencies, the Aussie has extended through the 2025 high on Friday and has found a boost following Albanese's win over the Weekend.
- Tariffs risks are still the major concern, but some of the continuity in Policy could be seen as supportive at least short Term.
- Next resistance in AUDUSD comes at 0.6528 High Nov 29 ‘24, and upside traction could be on the card, although Trade risks are at the forefront.
SILVER TECHS: Trend Structure Remains Bullish
May-05 07:08
- RES 4: $36.000 - Round number resistance
- RES 3: $34.903 - High Oct 23 ‘24 and the bull trigger
- RES 2: $34.590 - High Mar 28
- RES 1: $33.686 - High Apr 25
- PRICE: $32.385 @ 08:07 BST May 5
- SUP 1: $31.668 - Low May 2
- SUP 2: $30.915/28.351 - Low Apr 11 / 7 and the bear trigger
- SUP 3: $27.686 - Low Sep 6 ‘24
- SUP 4: $27.180 - Low Aug 14 ‘24
A strong rally in Silver on Apr 23 reinforced the current bullish theme. This suggests the latest pullback that started Apr 25, is a correction. Price has traded below support at $322.443, the 50-day EMA. A continuation lower would highlight scope for a deeper retracement and open $30.915, the Apr 11 low. For bulls, resistance to watch is $33.686, the Apr 24 high. Clearance of this level would confirm a resumption of the latest uptrend.
EURIBOR OPTIONS: Put Condor
May-05 07:03
ERU5 98.50/98.37/98.25/98.00p condor, bought for flat in 6.2k.
