📉 Dhanda The Great 📈

❗ GBP/USD set to retreat toward 1.2483 on fears of a hawkish Fed decision How much of a hawkish Fed stance is priced in? That is the critical question for traders. I expect fears to creep in ahead of the decision on Wednesday, boosting the US Dollar and sending GBP/USD down. Most recent data have been bullish for the Greenback, but on Friday, higher Core PCE was initially dismissed by markets, which seemed exhausting by USD strength. Now, it's a new week, and fresh fears are set to weigh on sentiment. Will the Fed be so hawkish? Probably not, and the reaction would be positive for GBP/USD—but such an outcome is less likely ahead of the decision. GBP/USD faces resistance at 1.2583, backed up by the 4h-200 SMA. Further above, 1.2650 awaits. Some support is at 1.2527, followed by 1.2483; the more meaningful line to watch is 1.2422.

❗ EUR/USD has scope for mild gains toward 1.0750, bears awaited EUR/USD’s broad bias is bearish. The ECB is dovish, while the Fed is not. Inflation data from Germany is due today for more clues on the ECB's next move. Prices have been correcting higher for two weeks. They print an expanding structure at the last wave of the flat corrective structure. There is room for mild gains toward 1.0750. If broken, 1.0775 is the following barrier - 61.8% fib retracement level. I expect any rally to be short-lived and find sellers. Supports are located at 1.0675 and 1.0600.

USD/JPY Chart of the Day

❗ USD/JPY sharp slide from the 34-year high Initial bullish pressure continued overnight with USD/JPY trading to a new 34-year high. Levels close to the 160.00 psychological Big Figure have found selling interest. Although Japan is on holiday, rumours of intervention are rife. Bespoke support is located at 154.78. We have a demand zone between 154.63 and 153.59. On the upside, we have an imbalance located at 157.83. Conclusion: although we will have to wait for Japanese authorities to confirm intervention tomorrow, it is highly likely the Bank of Japan is involved in the last move. With bespoke support located close to the demand zone, I would look for dips to be bought near to 154.78. Intraday resistance is located at 157.83 Resistance: 157.83 (imbalance), 158.86 (trend line) 160.23 (34-year high) Support: 154.78 (bespoke), 154.63 (demand), 153.59 (swing low)

❗ WTI Crude Oil set to extend losses toward $81.99 on hopes for a truce in the Middle East Tensions have risen within the Israeli government about a potential deal with Hamas – a sign that negotiations are at a critical point. There are growing reports that a breakthrough in talks is near, potentially allowing for six weeks of calm, and perhaps even more. A ceasefire in Gaza implies much lower chances of a regional conflict, which could disrupt oil deliveries.  Other factors remain stable – Chinese growth is somewhat weak, while the US economy looks strong. That leaves headlines from the Middle-East to move markets on Monday. On Tuesday, Chinese PMIs could have a small impact. WTI Crude Oil is trading around the crossroads of the 50 and 200 4h-SMAs, which is close to the daily low of $82.96. Further support is at $81.99 and $80.71. Resistance is at $84.47 and then only $86.31. The broader technical trend is sideways.

Patience and trusting your analysis pays off even while you sleeping 😉

Microsoft $MSFT Q1'24 update🔎 Updated one pager with all key information after the latest earnings of $MSFT 👇 Main takeaways 📢 • $MSFT had a very strong quarter with accelerating revenue growth mainly driven by higher than expected cloud revenue of 31% • A.I. contributed 7% of cloud revenue, which translates to a staggering 4 billion run rate • Free cash flow increased +23% to 70 billion. Right now, $MSFT is fairly valued.

Forbes: X 'End Goal' Revealed After Elon Musk Teased A Crypto Payments Bombshell That Could Blow up The Price Of Bitcoin, Ethereum, XRP And Dogecoin https://www.forbes.com/sites/digital-assets/2024/04/28/x-end-goal-revealed-after-elon-musk-teased-a-crypto-payments-bombshell-that-could-blow-up-the-price-of-bitcoin-ethereum-xrp-and-dogecoin/

Core tenets of Gurbani Gurbani talks about three important criteria for a successful life. First, it's about 'Arth,' which means having enough money and resources. Second, it's 'Dharam,' which means doing your duties sincerely. And the third is 'Kaam,' which means fulfilling your desires and dreams. There's also a fourth thing, 'Mokh' or 'Mukti,' which means being free from evil and ultimately from the cycles of reincarnation by way of the soul merging with God. But here’s the important part:Individuals should meet these criteria as members of society, not solely in pursuit of self-interest. So, when you work on your economic well-being, it's not just about you. It's also about making society better. One can achieve economic well-being by either getting a job or starting one’s own business or trade in fields like farming, industry, or commerce. In all cases, people are encouraged to work with integrity.

ਜੇ ਕੋਊ ਅਪੁਨੀ ਓਟ ਸਮਾਰੈ ॥ ਜੈਸਾ ਬਿਤੁ ਤੈਸਾ ਹੋਇ ਵਰਤੈ ਅਪੁਨਾ ਬਲੁ ਨਹ ਹਾਰੈ ॥੧॥ ਰਹਾਉ ॥ ੫ ੬੭੯ One who knows his financial strength, and uses the resources according to availability, does not suffer :Pause: (M: 5, SGGS, p 679).