 Tools for TradersTop Movers | Heat Map | Pivot Point | Pivot Meters | Action Bias | Volatility Charts Action InsightDaily Report: Dollar Tumbles as Trump Preparing for Full Blown Trade War with China Global markets tumbled on concern that US President Donald Trump is finally starting the steps towards a full blown trade war with China. DOW ended down -0.68%, or -171.58 pts at 25007.03. S&P 500 also lost -0.64%, or -17.71 pts to 2765.31. NASDAQ, which reached a new record high at 7637.27, reversed and closed down -1.02%, or -77.31 pts at 7511.01. Asian markets follow with Nikkei trading down -0.7%, HK HSI down -1.3% and China SSE down -0.5% at the time of writing. In the currency markets, Dollar is under broad based pressure today, it's trading as the second weakest for the week, just next to Canadian Dollar. Sterling is the strongest one for the week, followed by Swiss Franc. Technical OutlookEUR/USD Daily Outlook Daily Pivots: (S1) 1.2302; (P) 1.2323 (R1) 1.2357; More.... EUR/USD's rebound continues today. While intraday bias remains neutral, focus is back on 1.2445. Break there will turn bias back to the upside for 1.2555 high. Decisive break there will carry larger bullish implication. But again, break of 1.2268 will argue that fall from 1.2555 is likely resuming. And intraday bias will be turned back to the downside for 1.2154 support and below. Suggested ReadingsElliott Wave Analysis: USDCAD Potential Upside To 1.324 Fundamentals: Forex, Gold, Oil & Cryptos EUR/JPY: Is This Upside Break In Euro To Yen? US Dollar Index Remains Heavily Pressured On Tepid Inflation, White House Changes You're Fired: Episode # 35 'Rexit' EURGBP Still Consolidating; Unable to Break above Upper Channel Economic Data
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