 |
 |
|
|
Key resistance positioned at 1.1885
Yesterday, the Euro strengthened against the US dollar and touched its highest level since January 2015, after St. Louis Federal Reserve (Fed) President, James Bullard, stated that the central bank should halt interest rate hike moves in the near term, amid persistently low inflation. On the 1H chart, the pair is trading with a slightly upside bias, ahead of the European Central Bank’s (ECB) economic bulletin and key economic releases in Germany and Eurozone, to be published today. Intraday resistance is placed at the 1.1885 level, followed by the 1.1910 and crucial 1.1950 levels. A surge above the latter might trigger further positivity in the pair. However, the MACD indicator is moving downwards, suggesting at a likely intraday correction in the pair. Key support is aligned at the 1.1820 level where EMA 55 is trading, followed by the 1.1785 and 1.1745 levels. |
|
|
 |
Strong if breaks above 22150
Yesterday, the Dow Jones index achieved the psychological 22,000 milestone for the first time ever, and finished in the green at 22016.24, amid a jump in the shares of Apple Inc. as investors continue to cheer the strong quarterly earnings results. At present, the index is trading with a slightly bullish tone on the 1H chart, reflecting at a positive technical picture. Also, the MACD indicator is tranquil above its midline, further confirming the above stance. Key resistance is situated at the crucial 22050 level, followed by the 22100 and 22150 levels. A surge above the latter might trigger further strength in the index. However, formation of bearish divergence conditions on the MACD chart, suggests that the index might soon witness a near-term correction. Key support is located at the 21965 level, followed by the 21940 and 21890 levels. |
|
|
|
Positive if breaks above 1.3315
The Pound traded higher against the US Dollar in the prior session and settled at 1.3223, brushing off data that indicated a sharp fall in the British construction activity to its lowest level in eleven months in July. Currently, the pair is placed above its short-term and long-term EMAs, suggesting at a bullish technical scenario. Moreover, the MACD indicator is placed above its midline, further supporting the above stance. Traders would eye the Bank of England’s (BoE) interest rate decision and services PMI data in the UK, due for release later today. Important resistance is situated at the 1.3245 level, followed by the 1.3280 and 1.3315 levels. A break and stability above the latter might lead to further bullishness in the pair. Conversely, key support is seen at the 1.3195 level, followed by the 1.3170 and 1.3140 levels. |
|
|
|
Weak if breaches below 7385
The FTSE 100 index traded in the red in the last session, weighed down by losses in financial sector stocks. Moreover, Standard Chartered emerged as the top index loser, as investors were disappointed by a lack of dividend despite a strong first-half result. As visible on the 1H chart, the index is trading below its short-term and long-term EMAs, ahead of the earnings report of Shire Plc, Aviva Plc and London Stock Exchange Group Plc, to be released shortly. Besides, the MACD indicator is trading below its centreline, further elaborating the above stance. Intraday support is positioned at the 7385 level, a breach below which might lead to further bearish pressure on the index, clearing its way for the crucial 7350 and 7320 levels. On the bright side, key resistance is located at the 7445 level, followed by the 7470 and psychological 7500 levels. |
|
|
|
Bullish if breaks above 111.65
Even though the US private employers added less number of jobs than expected in July, the US Dollar finished in positive territory against the Yen in the last session and closed at 110.72. As of now, the pair is trading with a positive tone on the 1H chart, ahead of the factory orders and durable goods orders data to be released in the US, later today. In addition, the MACD indicator is likely to witness a signal line crossover from below, further validating the above stance. The key technical barrier is located at the 111.00 level where EMA 200 is placed, followed by the 111.30 and 111.65 levels. A sustained break above the latter might prompt further strength in the pair. Meanwhile, key short-term support is aligned at the 110.55 level where EMA 55 is located, followed by the 110.25 and 109.90 levels. |
|
|
|
Bearish if breaches below $1254
The precious metal advanced in the previous session and closed at $1271.80, led by a drop in the US Dollar to its lowest level in fifteen months, following weak labour market data in the US. At present, the yellow metal is trading in a downward trending channel on the 1H chart, reflecting a bearish technical outlook for the coming session. Additionally, the MACD indicator is sharply heading south, further endorsing the above view. Key technical support is situated at the $1260 level where EMA 200 is located, followed by the $1257 and $1254 levels. A move back below the latter might trigger downside momentum in the Gold. On the positive side, intraday resistance is aligned at the $1265 level, followed by the $1268 and $1272 levels. A surge above the latter might generate further positivity in the yellow metal. |
|
|
|
Weak if breaches below $51.85
The Brent Crude traded with a bullish tone in the prior session, on the back of reports from the Energy Information Administration (EIA) that showed a fall in the US crude oil inventories in the last week. As of now, the commodity is trading in a narrow range of $52.10-$52.30 on the 1H chart, hinting the presence of consolidation in the coming session. However, a possible signal line crossover by the MACD indicator from above, suggests at likely correction over intraday basis. Key near-term support is seen at the $51.85 level, a breach below which might lead to bearish momentum in the Brent crude, paving way for the $51.55 and $51.15 where EMA 200 is located. On the other hand, the key technical obstacle is positioned at the $52.45 level, followed by the $52.75 and $53.10 level. |
|
|
|
This communication is intended solely for the person or entity to whom it is addressed. Such person or entity is prohibited from disseminating, distributing, transmitting or forwarding this communication to any other person or entity. This communication may not be used in whole or in part by any person or entity which it was not originally directed to by ADS Securities LLC (“ADSS”, “us” or “we”). Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk and may not be suitable for all investors. All opinions, news, analysis, prices or other information contained in this communication are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation for you to buy or sell any over-the-counter product or other financial instrument. Further, this information has been prepared without regard to any specific investment objectives or financial position (including deposit size, leverage, risk appetite and risk exposure) of any specific person. Any reference to historical price movements is informational and based on our analysis. We do not represent or warranty that any such movements are likely to occur in the future, as past performance is not necessarily indicative of future results. While we believe the information contained herein to be reliable, we do not guarantee its accuracy or completeness. You understand that we do not produce the information with the intent of impacting your investment decisions, therefore, you release us from any liability for any losses, including without limitation, any loss of profit you may incur as a result of reliance on such information or entering into any transaction. By receiving this material, you confirm and agree that you have read, received and understood ADSS’s Risk Disclosure. |
|
|
0 komentar:
Posting Komentar