Mercato in vista

Rimani aggiornato con le informazioni di mercato critiche per gentile concessione del mercato della Pacific Union. Il nostro mercato in anticipo è un ottimo modo per prepararci al prossimo giorno di negoziazione.

US Senate is on the path to negotiate a $550 billion infrastructure…

US Senate is on the path to negotiate a $550 billion infrastructure package, which was included in the previous Joe Biden’s infrastructure plan

Market Focus US markets declined at the tail end of a big earning reports week as investors worried about the rapid resurgence of new Covid cases, more than …

20210802
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Market Focus

US markets declined at the tail end of a big earning reports week as investors worried about the rapid resurgence of new Covid cases, more than 103,000 cases in a seven-day average, the highest since February. The Dow Jones Industrial Averages dropped 0.42% on Friday. Meanwhile, the tech-heavy Nasdaq 100 plunged 0.71% and the S&P 500 declined 0.54%.

The mega-cap technology company, Amazon. com Inc. plummeted 7.6% in its largest decline since May 2020 after its earnings report missed the expectation, contributing the most declines in the Nasdaq 100 and S&P 500.

After China’s intensified requirements on overseas IPOs, cracking down Chinese stocks more than $1.5 trillion, the SEC said that it will also require additional disclosures from Chinese companies seeking to list on US stock exchanges. The SEC will require Chinese companies to distinguish the shell company from the operating company…etc. The move could potentially intensify the tensions between the US and China.

US Senate is on the path to negotiate a $550 billion infrastructure package, which was included in the previous Joe Biden’s infrastructure plan. The package would provide the biggest infusion of the US Federal spending on infrastructure in decades. It includes $110 billion for roads and bridges, $66 billion for trains, and $73 billion for electric grid upgrades…etc.

Main Pairs Movement

Bitcoin holds above $41,000, the highest since May, after a 10- day bullish move that was the longest in eight years. The upside momentum is driven by the Fed as it begins to consider tapering its $120 billion a month of asset purchases. Investors view bitcoin that can serve as an effective hedging instrument against inflation.

The eurodollar retreated from 1.1908 to 1.1870 against the greenback on Friday. At the same time, the British Pound was down 0.35% against the greenback. After the US Core PCE inflation in June came in at 3.5%, lower than expectations, the greenback gained strength, dragging the EURUSD pair to the downside.

Gold and Copper trimmed weekly gains as the greenback rebounded. Copper future fell nearly 1% on Friday with the concerns over the Covid and China’s regulatory clampdown, pushing the greenback up; gold was down as well, slipping 0.75%.

Crude oil price rose 0.45% on Friday. OPEC delivers most of planned supply as demand looks to recover. The cartel increases oil production by 420,000 barrels a day to 26.82 million daily as members restore more of the supplies shuttered last year, according to Bloomberg.

Technical Analysis

GBPUSD (4-hour Chart)

Sterling failed to retain the recently upward momentum on Friday and trims the weekly gains to the 13893 level. The dollar rises even as the U.S. yield moves further downward. The key economic report of the U.S. was the core PCE deflator, an important inflation parameter for Fed. In the U.K., still, focus on the variant contagious number. Meanwhile, the BoE will hold a meeting next week. Market expect no change in monetary policy stance. For the technical aspect, the RSI indicator corrects its momentum then sets 50.7 figures as of writing, suggesting a lack of direction at the moment. For moving average side, 15 long SMA indicator easing upward movement then turn to flirt and 60 long SMA indicator remaining up way traction.

As failed to break through the first resistance, it turns back on the first support level. For now, we expect the market will kick off the rooming between a tiny channel between 1.4 and 1.3895. Forbid buyer, off-the-cuff support level is at the current stage. If went down subsequently, it would be expected to tamp down to the lower stage.

Resistance: 1,3985, 1.4

Support: 1.3665, 1.3745, 1.38, 1.3896

EURUSD (4- Hour Chart)

Euro fiber corrects lower following the early move beyond 1.19 and after spot hit the pressure on the upper territory. Furthermore, the euro pair is on track to close the week on the positive ground following two consecutive weekly pullbacks. On the eco-data side, preliminary GDP figures in the euro zone now see the region expanding 2% during Q2. From the technical perspective, the RSI indicator closes 55 figures as of writing, suggesting slightly bull movement for the short term. For moving average side, 15 long SMA indicator shows turn it slopes to the north side and 60 long SMA slightly moving to upward.

For price action, the market seems to find a comfortable support level at 1.1848 and flirting around 1.1848~1.188. At the current stage. If the price could breach 1.188 again, it could head to a higher level. On the downside, we deem the most strong support level will be the 1.1766 level, yet the short term is setting at 1.18.

Resistance: 1.188, 1.19

Support: 1.1848, 1.18, 1.1766

AUDUSD (4- Hour Chart)

Aussie went down under 0.735 threshold, reaching a fresh two-day low, driven by strong U.S. dollar across the board while greenback gained momentum during the London fix. In the meantime, market participants are awaiting for RBA meeting next Tuesday. On the other hand, most of the commodities were close negative except the oil market. On the technical side, the RSI indicator fell under 50 to 42 figures, suggesting a bearish movement ahead. For moving average perspective, 15 long SMA indicator turn its momentum to floating movement and 60 long SMA still flirting.

In light of the aforementioned, we expect the market will continue to test the 0.7415 level which is immediate resistance. If it could penetrate the first resistance, it would toward to next consolidation between 0.7416 and 0.7492 range. For downside, efficient immediate support will be 0.7384, 0.73 will be way off following.

Resistance: 0.7415, 0.7492

Support: 0.733, 0.73

20210802
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Cryptocurrencies are still in their upward trend driven by Tesla’s June quarter…

Cryptocurrencies are still in their upward trend driven by Tesla’s June quarter earnings, which showed that it holds $1.3 billion worth of Bitcoin

20210730
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Market Focus

US equities rose toward all-time highs as the latest read on the economy eased concerns about inflation and the Federal Reserve scaling back its ultra-accommodative policies. Amid risk-off sentiments, all of the main American stock indexes advanced, with S&P 500 (+18.51) and Dow Jones (+153.60, or 0.44%) touching records. Ford Motor Co. rallied after a surprise profit. Facebook Inc. weighed on Nasdaq (+15.68, or 0.11%) after the social-media company gave a cautious outlook. And Amazon.com Inc. fell in extended trading after its sales forecast fell short, pulling futures in the Nasdaq lower.

It was supposed to be a triumph for today’s memeified markets — a validation for all those amateurs who took on the Wall Street pros. The public debut for Robinhood Markets Inc. turned out to be an embarrassment for the company that’s become synonymous with the rise of individual investors. Robinhood traders, it turned out, had no time for Robinhood.

In fact, some of the very people who flocked to the firm’s free-trading app to buy meme stocks like GameStop Corp. and AMC Entertainment Holdings Inc. this year appeared to take glee Thursday as the company’s share price slid. Reddit’s WallStreetBets forum, a hotbed of retail traders, lit up. One top post: “Is it me or does anyone else get pleasure from watching Robinhood’s stock burn to the ground?”

Almost nothing seemed to go right for Robinhood, whose decision to briefly freeze trading at the height of the meme-stock frenzy in January drew scorn from its own customers. The stock was priced late Wednesday at the low end of its expected range. Then investors saw red instead of green: shares almost immediately dropped after trading opened, tumbling as much as 12%. Robinhood eventually pared the worst of the decline, falling 8.4% to close at $34.82.

Main Pairs Movement

The dollar slid yet another day and reached fresh lows against most major rivals, as US data missed the consensus estimates. 21Q2 GDP showed the economy grew at an annualized pace of 6.5%, better than the previous 6.4%, although missing the 8.6% expected. Also, Initial Jobless Claims for the week ended July 23 printed at 400K, worse than anticipated.

The euro pair settles around 1.1890 while Cable approaches the 1.4000 figure. The commodity-linked currencies were strong on Thursday, with Loonie traded lower at 1.2440, Aussie hiked on the 0.7400 level, and Kiwi flirted with the 0.7000 milestones. The Japanese yen appreciated on the back of a better market’s mood, with USD/JPY trading around 109.40.

US government bond yields ticked higher, closing the day at 1.2710. Gold jumped to $1,832.62 a troy ounce, its highest in two weeks, while crude oil prices also reached fresh highs, with WTI ending the day at $73.40 a barrel, Brent at $75.80.

Cryptocurrencies are still in their upward trend driven by Tesla’s June quarter earnings, which showed that it holds $1.3 billion worth of Bitcoin. BTC then keeps soaring after speculation that Amazon may soon start accepting payments in Bitcoin, Ether, and other cryptocurrencies. Bitcoin and Ethereum gained nearly 40% against the US dollar in two weeks, showed by the data from Binance.

Technical Analysis

GBPUSD (4-hour Chart)

Sterling has reached the fresh high in the near month at 1.3981, supported by a fall in coronavirus cases in the U.K. and the dovish rhetoric from the Fed’s chairman. So far, the market still digesting the optimistic traction for risk-on mode. For the technical aspect, the RSI indicator is close around 71 figure which suggests strong-bull guideline over mire into overbought sentiment already, suggesting for more cautious to current the market trend. For moving average side, 15 long SMA indicator continuing its ascending momentum and 60 long SMA indicator remaining up way traction.

As price action, sterling was suppressed by critical resistance at 1.3985, the last high price level. For now, the bid side buyer should be aware of the immediate support 1.3896 level. On the lift side, if sterling could break through 1.3985 again, it could be heading to 1.4 thresholds.

Resistance: 1,3985, 1.4

Support: 1.3665, 1.3745, 1.3896

XAUUSD (4- Hour Chart)

Gold is picking up more than 1% to 1829 around on Thursday, despite easing from the monthly top. Heavily rebounded of the gold prices amid to the poor dollar performance and broad optimistic sentiment in the market while TIPS continuing to go down, 10 year U.S. Treasuries yield as well. From the technical perspective, the RSI indicator closes at 70 figures as of writing, suggesting over-bought sentiment at the current stage. For moving average side, 15 long SMA indicator shows turn it slopes to the north side and golden cross with 60 long SMA while it retains flat.

All in all, we witness the strong gold movement in the daily market, yet resist by pivotal resistance at 1830 which is the last high point. However, the instant indicator shows a remix suggestion as over-bought sentiment on RSI, in contrast, SMA suggests a bull signal at the moment. For the upper side, we expect the next resistance will be psychological level in 1840.

Resistance: 1830.5, 1840

Support: 1795, 1765.5, 1811

AUDUSD (4- Hour Chart)

Aussie topped to 0.7413, the perch in nearly two weeks, but tamp down under 0.74 threshold as of writing. Higher shares market, gold, and commodities market underpin the pair. On the other hand, the market is still worried about the governor’s decision to extend Sydney lockdown and the implications this will have for next week’s RBA meeting. For the technical side, the RSI indicator set 60 figure that gains another higher stage in recent, suggesting have a room for upward. For moving average perspective, 15 long SMA indicator turn its momentum to upside traction and 60 long SMA still flirting. Furthermore, 2 lines have a golden cross that shows a strong signal for upside traction.

In light of the aforementioned, we expect the market will continue to test the 0.7415 level which is immediate resistance. If it could penetrate the first resistance, it would toward to next consolidation between 0.7416 and 0.7492 range. For downside, efficient immediate support will be 0.7384, 0.73 will be way off following.

Resistance: 0.7415, 0.7492

Support: 0.7384, 0.73

20210730
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The Fed will maintain asset purchases at $120 billion a month until…

The Fed will maintain asset purchases at $120 billion a month until there is substantial further progress

20210729
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Market Focus

US markets opened mixed on Wednesday after the FOMC meeting of no move on asset purchases. The Dow Jones Industrial Averages dipped 127.59 points. The S&P500 closed with 4400.64 points whilst the tech-heavy Nasdaq 100 climbed 0.7%.

FOMC Meeting Key Takeaways:

  • The Fed has not made any decisions on the timing of taper.
  • The Fed continues to hold rates between zero and 0.25%.
  • The economy continues to grow even though there are concerns over the new- variant delta coronavirus.
  • The rising threat of the pandemic has not yet made a big impact on the economy.
  • The Fed will maintain asset purchases at $120 billion a month until there are substantial further progress.
  • In response to the spike of the inflation, the Fed officials have said that price spikes are likely temporary and are driven by the economic reopening.
  • Unemployment rate has declined significantly below 6%. However, there are still long ways to full employment.
  • The Fed will establish two standing repurchase- agreement facilities.

Large-Cap China stocks listed in the US rebounded after Chinese regulators reassure s investors about the market’s stability by holding a conference attempting to ease market fears. In Asia, the Hang Seng Index reversed losses after slumping several days.

Main Pairs Movement

Gold wavered and closed with $1809 after the FOMC meeting as the Fed sees progress toward tapering but not yet decides on the exact plan.

USDJPY closed below 109.07 as the US policymakers sounded more optimistic than expected.

The Aussie edged higher, closing up 0.2% as the Fed’s tapering plan was progressing but still some way off.

The EURUSD seesawed around 1.1800 level amid an expected Fed decision. By end of the day, the currency pair climbed 0.22%.

The GBPUSD moves higher, closing up 0.17%. The US dollar remained weak after the Fed’s dovish tone.

Technical Analysis

GBPUSD (4-hour Chart)

The GBPUSD pair heading to a recent high at 1.39 as nearly market close, trading a handful of pips below its post-Fed high at 1.3911, and chances are skewed to the upside. Fed chairman poured cool water on tapering speculation. For technical aspect, RSI indicator close around 66 figure which suggest strong-bull guideline extends recently momentum at least for the short term. For the moving average side, 15 long SMA indicator continuing its ascending momentum and 60 long SMA indicator turn sideway traction in the daily market.

As price action, the pound is holding on to a powerful resistance at 1.3896~1.39 around. if the market could extend its current upside momentum to exceed immediately resistance, it would head to a higher stage firmly. On the downside, the 1.3475 level is still a defensive line for bid buyers.

Resistance: 1.3896, 1,3985

Support: 1.36, 1.3665, 1.3745

XAUUSD (4- Hour Chart)

Gold prices are still choppy in the tiny range between first resistance and support level after the post-Fed statement. From the technical perspective, the RSI indicator settles at 55 figures as of writing, suggesting slightly bull movement ahead, but we believed it still lacking a critical impetus. For the moving average side, 15 long SMA indicator shows a flat move in the day market, and 60 long SMA went to a downward trend.

In light of the aforementioned, we expect the gold market will high probability struggle in a consolidation range. On the downside, we expect 1795 will be powerful support. If the market penetrates the first immediately support, it would move to lower lows which eye on 1765.5 level. On the up way, 1811 around shows price cluster resistance as the first pivotal checkpoint.

Resistance: 1811, 1830.5

Support: 1795, 1765.5

EURUSD (4- Hour Chart)

Eurodollar reversed from 1.1770 level and jumped up to 1.1842, approaching the highest level since July 15th, after Fed expect to no rush to taper. Fed Chairman Powell said “substantial further progress is still a ways off. For the technical side, the RSI indicator set 61 figures that gain another higher stage recent, suggesting a bull movement guidance for the short term. For moving average perspective, 15 long SMA indicator moving in a flat with modest momentum in recent and 60 long SMA still moving flat as market choppy in close range. Furthermore, 2 lines have a golden cross that shows a strong signal for upside traction.

As the euro back and forth to test the 1.1804 level in the daily market, it seems finally stand above the 1.1804 level which is a pivotal resistance stage in light of price action. if the price could propel to higher than the next price level would eye on 1.1848~1.188. In contrast, we see the market was stopped by 1.1848 level in day market and still expect 1.1804 is the short run pivot support. If the market reverses to the down way the first support, it would fall into a quagmire between 1.1766 and 1.18040 as tiny volatility.

Resistance: 1.1848, 1.188

Support: 1.1804, 1.1766, 1.17

20210729
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