Category: Technial Analysis
Following a 10.78% correction and a prolonged sideways channel, the JP 225 stock index resumed growth, reaching its highest level since 1989. The primary driver is increased demand from Japan’s domestic investors, who have reduced their investments in US government bonds to protect themselves against the yen’s depreciation. JP 225 trading key points Recent data: […]
Gold prices are rising on Tuesday, 9 July 2024, partially recouping Monday’s losses. The 2,350 level serves as strong support. XAUUSD trading key points Price growth is driven by expectations of a Federal Reserve interest rate cut Technical analysis: buyers have breached the upper boundary of a triangle pattern XAUUSD price targets: 2,393, 2,450 Fundamental […]
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Japan’s news landscape positively contributes to a correction in the USDJPY rate. The yen is temporarily headed for strengthening in anticipation of an interest rate decision. USDJPY trading key points Japan’s M2 monetary aggregate (y/y): currently at 1.5% compared to the previous reading of 1.9% The 5-year Japanese government bond (JGB) auction: currently at 0.612% […]
The EURUSD rate corrected slightly on 9 July 2024 but remains at a three-week high as pressure on the US dollar persists. EURUSD trading key points Market focus: Federal Reserve chair’s speech on monetary policy US consumer inflation expectations dropped from 3.2% to 3.0% in June EURUSD price targets: 1.0840, 1.0900, and 1.0944 Fundamental analysis […]
The USDJPY rate is correcting on Monday amid the highest US employment rate since November 2021. The pair could not drop below the 160.20 support level. USDJPY trading key points Earnings in Japan reached their highest level since January US job growth decreased to the lowest seen since November 2021 USDJPY price targets: 160.00, 159.30, […]
The US 500 stock index reached a new all-time high within the uptrend, driven by major players’ expectations of a US Federal Reserve interest rate cut amid weak employment market data. US 500 trading key points Recent data: US unemployment rate increased to 4.1% in June Economic indicators: a weak employment market may cause the […]
The commodity market has started the week on a neutral tone, with prices reflecting decreasing geopolitical risks and a US economic slowdown. Brent trading key points US employment statistics have raised doubts in the market The Middle East news is exerting pressure on commodity prices Brent price targets: 84.64, 83.11, and 82.12 Fundamental analysis The […]
The correction may soon be over, and the AUDUSD pair may embark on a new growth wave, with the price reaching last year’s highs. AUDUSD trading key points Australia’s home loans (m/m): currently at -2.0% compared to the previous reading of 4.5% Australia’s real estate investments (m/m): currently at -1.3% compared to the previous reading […]
The EURUSD pair continues its ascent. However, the euro faces risks due to the French political situation. EURUSD trading key points US employment market data was soft Political uncertainty in France becomes a risk factor for the EUR EURUSD price targets: 1.0900 and 1.0944 Fundamental analysis The EURUSD pair appears relatively expensive, hovering at 1.0828 […]