Market Morning Briefing: Dollar-Yen Has Been Dragged Down By Weakness In The Dollar
STOCKS Resistance at 33550 on the Dow is holding in line with our expectation. A break below 33000 can trigger the expected corrective fall. DAX has room to test 15500-15700 on the upside before witnessing a sharp reversal. Nikkei can...
Gold Resumes Recovery, Double-Bottom Underpins
Spot gold rose to the highest in more than one week on Tuesday, resuming recovery leg from $1677 (Mar 31 low) after bulls took a breather on Monday. Fresh weakness of the dollar and US Treasury yields revived metal’s appeal...
S&P 500 Outlook: Consolidating Under New Record High
The S&P index is consolidating under new record high, posted after 1% rally on Monday, sparked by upbeat US data. A survey showed a measure of US services industry activity jumped to a record high in March after last week’s...
WTI Futures Range-Bound But Bearish Tone Threatens Outlook
WTI oil futures are currently tackling the direct support zone of 58.86-59.58 on the four-hour chart, although remain within a ranging market between the confines of 57.25 and 62.24. The 50-period simple moving average’s (SMA) bearish incline has waned slightly...
EUR/USD Outlook: Recovery Regains Traction and Cracks Pivotal Barriers
The Euro jumped to a one-week high as the dollar was sold in early US trading on Monday. Fresh strength adds to hopes that recovery may pick up after Friday’s close in red soured the sentiment, as the pair probes...
EURUSD Flickers Red below 200-day SMA
EURUSD’s correction below the 200-day simple moving average (SMA) is transmitting a growing bearish tone. The falling 50-day SMA appears to be heading for a bearish crossover of the 200-day SMA as well, which would further power the negative picture....
USDCHF Jittery ahead of Long-Term Restrictive Line
USDCHF’s attempts to navigate towards the looming long-term restrictive trend line may not be in vain, even though its positive spark seems to be fading. As mentioned, the bullish impetus appears to be withering from its fresh nine-month high of...
US 30 Index Resumes Bullish Bias; Upside Risks Improve
The US30 stock index (Cash) has currently crept over the all-time high of 33,253 and is headed for the 33,638 level, which happens to be the 261.8% Fibonacci extension of the down leg from 28,900 to 26,065. The sturdy advancing...
GBPJPY’s Opposing Forces Fail to Oust Bullish Tone
GBPJPY is sustaining its upward trajectory reaching a 35½-month high of 153.20, and bearish powers seem to be incapable of overthrowing the uptrend. The soaring simple moving averages (SMA) are safeguarding the positive structure, while the rising Ichimoku lines are...
XAU/USD Outlook: Gold Extends Recovery But Break Above $1755 Required to Sideline Bears and Signal a Double-Bottom
Spot gold extends strong rebound into second consecutive day after another short-lived probe below psychological $1700 level. The yellow metal advanced over 2.5% in two days, lifted by lower dollar and US and US bond yields, while weak US jobless...
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