Daily Analysis

Daily Analysis

May 6th Daily Analysis

The U.S. Dollar index found a hard time breaking above 103.60 as the resistance intensified before the Non-Farm Payroll data.
Technically, after 7 days of trading below the resistance of 103.60, the index value remains expected to decline to 100.50. However, on the hourly chart, technical indicators and trend lines expect the index to hover around 103 during the day.

May 5th Daily Analysis

The U.S. dollar failed to hold above 103 after the interest rate hike from the Federal Reserve (Fed) as it matched the expectations. The U.S. Dollar index fall to 102.36 during the early trades and bounced back to 102.73 later. The index declined from a firm resistance at 103.60 which was cemented by the interest rate decision from the 

May 4th Daily Analysis

The U.S. Dollar traded around 103.50 slightly below its all-time high of 103.90. The current level seems to be massive resistance as traders are waiting for the FOMC meeting. After the interest rate hike announcement, the U.S. Dollar might show impulsive movements that will determine the trend.
Technically, 

May 3rd Daily Analysis

The U.S. Dollar traded slightly below 103.50 near its all-time high slightly at 103.90. As mentioned before the price is expected to trade around the range of 103.50 for the week due to the volume traded and reactive trading.
Meanwhile, the trend will keep trading in a slow pattern until it breaks above 104 for a new high or below 103 

May 2nd Daily Analysis

The U.S. Dollar traded slightly below 103.50 near its all-time high slightly at 103.90. The index is strongly supported above the tight range between 103 and 103.20, indicating that it remains in an optimistic trend. As mentioned last week the price is expected to trade around the range of 103.50 for the week due to the volume traded and reactive trading.

 

April 29th Daily Analysis

The price of the US index has reached an all-time high of roughly 104.00, indicating that it is in an overall optimistic trend. The hourly chart shows a price retreat to the level of 103.50, which could either see the price continue higher and breach the barrier of 104.00 or form a reversal to the level of 101.10 before the bulls reclaim control.

April 28th Daily Analysis

The price of the US index has reached an all-time high of roughly 104.00, indicating that it is in an overall optimistic trend. The hourly chart shows a price retreat to the level of 103.50, which could either see the price continue higher and breach the barrier of 104.00 or form a reversal to the level 

April 26th Daily Analysis

On the daily chart of the Euro, the overall trend remains bearish. Similarly, the price is currently intersecting the negative trend line and the level of 1.0725 on the hourly chart, indicating a significant downturn. The RSI and MACD both imply price continuation to the downside.

April 25th Daily Analysis

The Euro fell 0.4% to $1.0720, getting below the two-year low of $1.0758 hit last week. A look at the EURUSD daily chart shows a continuation of the bearish trend. likewise, the hourly chart supports the bearish price action, with the price currently trading at 1.0720, below the 20-candle moving average.

April 22nd Daily Analysis

The common currency retreated after comments by the Fed chairman regarding the monetary policy yesterday. However, EURUSD was traded heavily above the support at 1.0840 and started to show hopes awaiting Lagarde’s speech later today. Technically, the pair remains in a downward trend over the long run as shown in the daily chart. Moreover, the current level is critical to deciding the next impulsive movement.

April 21st Daily Analysis

The European currency traded up for the third day, although it retains the negative trend on the daily chart. The common currency bounced from the support at 1.0780 earlier this week, which revers some of the losses recorded before the Good Friday holiday. EURUSD traded up with the European session. Technically, the hourly chart shows an impulsive movement that exceeded the moving average line, which signals a …

April 20th Daily Analysis

The Sterling pound outweighs the common currency driving the daily chart into a downtrend. The trend appears to make a corrective pullback on the hourly chart, drawing higher highs and reaching 0.8310. Based on the price action, it appears that the pair may resume its downward movement after touching the resistance near 0.8310. As the pair is moving in a tight range, thus the MACD and RSI look to be indecisive.

April 19th Daily Analysis

Dow Jones Industrial Average daily chart indicates an upward trend. However, the trend appears to be bearish on the hourly time frame since it has been making a succession of lower lows to the downside, which is a strong corrective move on the daily time frame. Price appears to be going in a horizontal manner with the 20 period MA moving in between prices, indicating an indecisive move according to the RSI and MACD.

April 18th Daily Analysis

SPX500 daily chart shows a positive tilt. However, pricing appears to have broken out of the bearish flag on the hourly time frame, indicating that it will go lower. The 20-period MA is above price, confirming the S&P 500’s negative directional bias. Both the MACD and the RSI point to a price decline.

April 15th Daily Analysis

EURGBP’s daily chart shows a bearish trend overall. Similarly, the EURGBP plummeted to almost a one-month low on the hourly chart for the fourth day in a row. The price is trading below the 20-candle moving average on the chart, at a level of 0.8270. The RSI and MACD both indicate that the price will continue to fall.

April 14th Daily Analysis

From the overview of the chart of Gold Spot (XAUUSD) in the daily time frame, the overall trend is bullish. Similarly, from the hourly chart, Gold Spot (XAUUSD)is indicating pressure from the bulls and has tested the recent highs made on Wednesday near $1,980 before a pullback to the $1,970 level. The US dollar is trading above the 20 candles moving average which signifies a bullish move to the upside. The RSI is also indicating price continuation to the upside.

April 13th Daily Analysis

Cable’s overall trend remains bearish in the daily time. Similarly, the trend can be seen consolidating or moving horizontally after an initial move to the downside. Price is currently at the level of 1.3010 intersecting the 20 periods MA. Both the MACD and RSI are indicating a bearish continuation of price.

 

PIVOT POINT: 1.3010

April 12th Daily Analysis

The Aussie has been in an overall uptrend from the daily time frame. However, the trend in the hourly time frame is bearish and is also trading below the 20 periods MA. The RSI and MACD are moving below the centre-line which indicates a bearish momentum of price.

 

PIVOT POINT: 0.7430

April 11th Daily Analysis

The long-term trend for EURUSD looks bearish. On the 1-hour time frame, the price seems to be making a series of lower lows, indicating a further decline. Price is currently trading below the 20 period MA at the level of 1.0895. The RSI and MACD both show that the price is most likely targeting 1.0640 in the long run.

April 8th Daily Analysis

From the daily time frame, the overall trend for the Cable is bearish. However, from the hourly time frame, GBPUSD seems to be moving horizontally after an initial break to the downside. The RSI and MACD are within the centre-line which shows that price is likely to keep moving horizontally.

 

April 7th Daily Analysis

The overall trend from the daily time frame for USDCHF remains bullish. From the hourly time frame, it is also seen clearly that the price has been making a series of higher highs and is currently at 0.9330. There is a possibility of the price retesting the support level of 0.9300 before continuing in its bullish direction. The RSI is above the centre-line which

April 6th Daily Analysis

US crude oil (WTI) long-term trend is bearish. However, the price has intersected with the 20 candles MA at $101 a barrel. Fibonacci retracement shows a weak upward movement between the levels of 38.2 and 50, showing strong resistance below $102 a barrel. MACD and RSI show a likelihood of more downward movement towards $99.5 a barrel.

 

April 5th Daily Analysis

GOLD SPOT has been in the range from the 4-hour time frame after an initial impulsive move to the bearish direction. Down to the hourly time frame, price is forming higher highs after an initial breakout from the downward trend-line. Price has formed a rejection in form of a pin-bar at the support level of 1925 and is above the centre-line on the RSI and MACD indicators.

April 1st Daily Analysis

Ahead of a key U.S. jobs report that could cement the potential for a 50 basis-point Federal Reserve interest rate hike, the dollar extended a rebound versus major peers on Friday, rallying against the yen. The dollar index, which gauges the greenback against six counterparts including the euro and yen, rose 0.10% to 98.420, building on Thursday’s 0.50% climb.

April 4th Daily Analysis

Ahead of a key U.S. jobs report that could cement the potential for a 50 basis-point Federal Reserve interest rate hike, the dollar extended a rebound versus major peers on Friday, rallying against the yen. The dollar index, which gauges the greenback against six counterparts including the euro and yen, rose 0.10% to 98.420, building on Thursday’s 0.50% climb.

April 1st Daily Analysis

Ahead of a key U.S. jobs report that could cement the potential for a 50 basis-point Federal Reserve interest rate hike, the dollar extended a rebound versus major peers on Friday, rallying against the yen. The dollar index, which gauges the greenback against six counterparts including the euro and yen, rose 0.10% to 98.420, building on Thursday’s 0.50% climb.

March 31st Daily Analysis

The US 10-year Treasury yields rose 5.4 basis points (bps) to the highest levels since May 2019, around 2.54% by the time of writing. European stock markets are expected to start the week in a cautious manner, as market participants keep a wary eye on changes in the war between Ukraine and Russia with peace talks set to take place in Turkey this week.

March 30th Daily Analysis

Ukraine proposes to join the EU while adopting neutral status by not joining NATO. The Ukrainian presidential advisor Mykhailo Podolyak said they have prepared documents that allow the presidents to meet on a bilateral basis. Gold has witnessed a steep fall this week after failing to sustain above the grounds of $1,950.00.  

March 29th Daily Analysis

 A likely higher print of UK inflation may force the BOE to come forward with one more interest rate hike in May. The BOE has increased its interest rates to 0.75% to combat the soaring inflation. The UK’s Office for National Statistics printed the yearly Consumer Price Index (CPI) at 6.2%, which was significantly higher than the market estimates 

 

March 28th Daily Analysis

The US 10-year Treasury yields rose 5.4 basis points (bps) to the highest levels since May 2019, around 2.54% by the time of writing. European stock markets are expected to start the week in a cautious manner, as market participants keep a wary eye on changes in the war between Ukraine and Russia with peace talks set to take place in Turkey this week.

 

March 25rd Daily Analysis

The dollar was down this morning in Asia, and the Japanese yen was set for its worst week in two years. Rising import costs and low-interest rates contributed to the yen’s downward trend, but commodity currencies were set for a second consecutive weekly gain on the dollar as export prices continue to soar.

March 23rd Daily Analysis

Ahead of the disclosure of Consumer Price Index (CPI) numbers on Wednesday, GBPUSD has been performing stronger. A preliminary estimate for the yearly UK’s CPI is 5.9%, much higher than the previous print of 5.5%. GBPUSD has witnessed a strong upside move on Tuesday amid the

March 22nd Daily Analysis

The Euro is trading lower early this morning in the wake of hawkish comments from U.S. Federal Reserve (Fed) Chair Jerome Powell that opened the door for the central bank to take a more aggressive monetary policy path. The common currency remains under pressure after dovish comments

March 21st Daily Analysis

Euro drops below 0.8400 against the Pound after hitting resistance on 0.8455. The currency is trading lower across the board, with risk sentiment waning as hopes of a peace agreement between Russia and Ukraine start to whither in absence of any substantial progress. Looking at the current price of EURGBP, the pair trades around a psychological level 

March 18th Daily Analysis

Gas prices are up as much as 77 cents from last month. Some US shoppers are signing up for Costco memberships in order to buy cheaper gas. Over the past few days, dozens of consumers have touted the benefits of a Costco membership on Twitter, The trend for natural gas is bullish after breaking previous structures to the upside. 

 

March 17th Daily Analysis

Gold price remains in the hands of buyers this Thursday, following a decent comeback amidst a hawkish Fed. Concerns  over risks to global economic growth play out and influence gold price, as the focus remains on the ongoing Russia-Ukraine peace talks.

 

March 11th Daily Analysis

Following a massive rally during the previous session, stocks halted on Thursday, with the major equity averages finishing the day fairly lower.

 

March 10th Daily Analysis

Businesses are producing more data now than ever before. Some estimates say that 90% of all data ever produced has been made in the past two years alone — and as more businesses shift to a…

 

March 9th Daily Analysis

The benchmark indices on BSE and National Stock Exchange (NSE) opened on a positive note on Wednesday.
The S&P BSE Sensex climbed nearly 370 points to 53,793.99 in opening deals

March 8th Daily Analysis

The overall trend for EURGBP shows that price is in a bearish direction. We could clearly see that price is retesting the support zone between 0.83171 and 0.83021 which 

March 4th Daily Analysis

Toyota Motor Corp will halt production at its Russian factory from Friday while vehicle imports into the country have also stopped indefinitely due to supply chain 

March 3rd Daily Analysis

The overall bias of XRPUSD is bullish. We could see that price has broken and retested a major resistance zone which is also inline with the retest of the 50 EMA. 

March 2nd Daily Analysis

In contrast to yesterday, when defense stocks of all stripes moved in only one direction — up — Russia’s continuing attack on Ukraine had divergent effects on defense stocks today. 

March 1st Daily Analysis

The U.S. Treasury has published a document indicating that it will expand upon sanctions against Russia put in place last year. One section makes specific reference to digital 

February 21st Daily Analysis

Market sentiment deteriorated this past week around the globe as geopolitical tensions around Ukraine mixed with the road ahead for tightening monetary policy. On Wall Street, futures tracking the Nasdaq 100, S&P 500 and Dow Jones…

February 18th Daily Analysis

Chinese President Xi Jinping told top leaders to speed up work on new laws for the technology sector during a speech in early December. It’s a sign that regulation is not going away yet, even though the speech covers little new ground…

February 17th Daily Analysis

U.S. stocks fell on Wednesday, with the tech-heavy Nasdaq leading losses after stronger-than-expected retail sales data gave the Federal Reserve more ammunition to tighten policy, while geopolitical tensions over Russia and …

February 16th Daily Analysis

Dry weather conditions in West Africa have helped the cocoa exchange traded note enjoy a sweet February. The Path Bloomberg Cocoa TR Sub-Index ETN (NYSEArca: NIB) has advanced 11.1% since the late January lows…

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