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ECB’s Kazaks is saying that:
The EURUSD has erased its earlier declines and is now trading higher as the U.S. session unfolds. Earlier in the day, the pair dipped below a key swing area between 1.1581 and 1.15956, reaching a session low of 1.1578. However, the move lower failed to gain traction, and once the price reclaimed that support zone, sellers were forced to cover, helping fuel a steady recovery through the New York morning.
Momentum accelerated as the pair moved above the prior session high at 1.1615, extending to a new intraday peak of 1.1622. The rally has brought the EURUSD within striking distance of the 200-hour moving average, currently at 1.16267—a level that remains a key pivot point for the next directional move.
From a technical perspective, a sustained break above the 200-hour MA would give buyers more control and shift short-term bias to the upside, while simultaneously giving sellers cause for caution. On the flip side, if the price fails to hold above 1.1615–1.1622, traders may see the pair drift back toward the 1.1595–1.1580 support zone, where buyers have recently been willing to step in.
For now, the battle line is drawn around 1.1627—a break above strengthens the bullish case, while failure there risks reestablishing the broader consolidation seen over recent sessions.
This article was written by Greg Michalowski at investinglive.com.
The stock market is on edge due to a convergence of major risks: escalating trade tensions with China and the persistent threat of a US government shutdown.
The immediate trigger for the latest anxiety is President Donald Trump’s renewed threat to restrict software and aircraft sales to China. This is a direct response to China halting US soybean purchases and imposing restrictions on rare earth exports.
The US government has been shutdown since October 1. The US House Ways and Means Committee Chair Smith says that lawmakers are weighing a stopgap bill through December 2026.
The Technical Picture (NASDAQ):
The technical damage is visible. The NASDAQ Index has now broken below its 200-hour moving average at 22,637.66. A sustained move below this key technical level confirms that sellers are in firm control in the near term.
Next Downside Target: The primary support to watch is the 22,400 area, which aligns with a rising trendline and a swing low area.
Critical Support: If 22,400 fails, the focus shifts to the major technical support at 22,143.26—the 38.2% Fibonacci retracement of the rally that began on August 1st.
While the NASDAQ index is the weakest of the major 3 indices, the S&P index is also lower by -0.94% currently, while the Dow industrial average is down -0.76%.
Tesla will report their earnings after the close. The stock is down $11.18 or -2.54% at $431.30. The EPS is expected at $0.55 while revenues are expecting a $26.54 billion. That compares to $0.72 a year ago on revenues of $25.18 billion.
This article was written by Greg Michalowski at investinglive.com.
Auction Grade: A
An off the run issue, yet the demand was strong. The tail -1.2 basis points was better than the -0.2 basis point average. THe Bid to cover was above the six-month average. The buyers were domestic buyers.IInternational buyers were a bit later than the six-month average, but the dealers were still saddled with only 10% which was well below the 13.1% average..
This article was written by Greg Michalowski at investinglive.com.
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