Market Analysis

Daily Market Outlook, April 20, 2023 Another whipsaw session on Wall Street, albeit with recent ranges which are continuing to contract on low volume price action, notably the VIX, the fear gauge for investors printed lows not seen since 2021, suggesting investors risk appetite remains optimistic, the directionless action on Wall Street has seen Asian […]

Q1 Results Beat After gapping lower at the open yesterday, Morgan Stanley shares surged higher by around 5% on the session as traders reacted to a solid set of Q1 results. On the back of weak results from State Street and mixed results from Goldman, there was a little trepidation in the market. However, in […]

Retail Heavily Short GBPJPY The retail market is currently more than 70% short GBPJPY making it a prime candidate to monitor for long opportunities. The pair has been grinding higher recently amidst a broader breakout pattern and looks vulnerable to further upside near-term. GBP has been well bid recently on the back recent UK data […]

Oil Traders Increase Longs – Price Falls The latest CFTC COT institutional positioning report shows that oil traders increased their net long positions again last week. Total upside exposure rose from 226k contracts to 235k contracts, marking the third consecutive weekly increase in bullish bets. Despite the increase, crude prices have fallen sharply this week, […]

The Japanese yen has dropped noticeably against the US dollar. The current quote is 134.80. The yen is being betrayed by domestic news and the international background equally. The morning statistics demonstrated that the trade deficit in Japan in fiscal 2022 (ended on 31 March 2023) had reached a high of 44 years, amounting to […]

EURUSD on Thursday is neutral. The current quote is 1.0960. Yesterday the US published almost no important statistics except for the Beige Book report. Meanwhile, the Eurozone shared some more exciting data – the final inflation report for March. Well, the CPI in the Eurozone in March remained at 6.9% y/y, while base inflation stayed […]

Bitcoin has tested the resistance area formed between the levels 30000 and 31000 and reversed to undergo correction and drop. The asset is likely to drop and gain the required support at the level of 25200. Oil keeps filling the formed gap, approaching the broken downtrend. The price of the asset might potentially pull back […]

Beige Book Points to Slowing Activity With recession concerns returning to focus recently, the update makes for worrying reading. The Fed notes that while price levels rose moderately, consumer spending (accounting for around two-thirds of the economy) was down over the period. Real estate activity was also seen remaining subdued due to higher interest rates […]

EURUSD, “Euro vs US Dollar” The currency pair has performed a structure of decline to 1.0917. At the moment, the price has corrected to 1.0979. Today the market is forming a link of a new declining wave to 1.0928. If this level breaks, a pathway down to 1.0880 could open. GBPUSD, “Great Britain Pound vs […]

USDCHF, “US Dollar vs Swiss Franc” On H4, the quotes are under the 200-day Moving Average, revealing the presence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a test of 1/8 (0.8911) should be expected, followed by a downward breakout and a decline to the support at 0/8 (0.8789). […]

Goldman Earnings Up Next Following on from JP Morgan and Citi’s bumper Q1 earnings calls last week, traders now turn their attention to Goldman Sachs which is due to report today. On the numbers front, the market is looking for EPS of $8.14 on revenues of $12.762 billion. These forecasts mark a solid uptick on […]

EURUSD, “Euro vs US Dollar” EURUSD is pushing off the support level. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower border of the Cloud at 1.0945 is expected, followed by growth to 1.1165. A signal confirming the growth will be a rebound from the lower border […]