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Daily Market Outlook, May 10, 2023 Asian equity markets maintained a muted tone overnight, mostly in the red after a lacklustre handover from Wall Street, where Fed officials comments were deemed more hawkish than expected, while Fed’s Williams ceded he would consider a pause in the rate cycle at the next meeting, he was keen […]

PLTR Beats Forecasts Shares in Peter Thiel founded tech company Palantir were seen exploding higher yesterday. PLTR stock gapped open following the release of Q1 earnings after the bell on Monday and pushed on to end the session around 25% highs from Monday’s closing price. Looking at the breakdown of Q1 results, PLTR posted EPS […]

EURUSD, “Euro vs US Dollar” EURUSD is testing the lower border of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.0985 is expected, followed by a decline to 1.0845. An additional signal confirming the decline will be a rebound from the […]

XAUUSD, “Gold vs US Dollar” Near the resistance level, the instrument has formed a Harami reversal pattern. The quotes are currently going by the reversal signal in a descending wave. The correction target could be 2015.00. After testing the support, the price could get a chance to rebound from it and go on by the […]

EUR Longs Overextended The latest CFTC COT institutional positioning data shows that EUR traders continued to add to longs in the week ending May 2nd. With this latest increase, EUR is the most overbought of the G10 pack. Indeed, despite longs being increased last week, price action shows a loss of upside momentum suggesting risks […]

TitleUS30USD H4 | Dropping to support TypeBullish Bounce Preference:Price could approach the pivot point of 33292.68 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 33803.46. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 33039.15. To discuss this trading idea, […]