EURUSD New Forecast The price has reached the target mentioned in our previous analysis. Currently, a correction is anticipated to adjust momentum. However, the overall trend remains bullish as long as the price trades above 1.08030. Stability above 1.0883 will signal the start of a new bullish trend towards 1.0992. Key Levels to Watch: - Pivot Price:...
CPI, the Dollar, and US Yields Propel Gold Prices Higher The US Consumer Price Index (CPI) significantly influences market movements, especially given the recent heightened media attention and the accelerating price pressures over the past two months. Consequently, the market welcomed the news that the monthly CPI fell from the previous 0.4% to 0.3%, with...
The Crypto Market Up Today! The crypto market is experiencing an upward trend due to several key factors: Increased Inflows into Spot Bitcoin ETFs: There has been a significant increase in investments in U.S. spot Bitcoin exchange-traded funds. As of May 16, these funds manage approximately $12.40 billion in BTC, up from $11.18 billion at the beginning of the...
An uptick in gold prices this week deterred physical purchases in top-consuming markets, prompting dealers to offer lower premiums in China and deeper discounts in India following a key gold-buying festival. In India, the world's second-largest gold consumer and major importer, domestic prices (MAUc1) were around 73,000 rupees per 10 grams on Friday, nearing the...
NASDAQ New Forecast (Structure: Short) The price is still retracing towards 18,435 after dropping and stabilizing below the pivot zone, which lies between 18,660 and 18,600. As long as trading remains below 18,600, the price is expected to drop to 18,435. A subsequent break below 18,420 would signal a continuation of the bearish trend towards 18,250. However,...
SP500 Index NewForecast (Structure: Short ) The price has dropped and continues to do so as we predicted, aiming for a retest at 5302 and 5281. It has already reached 5302 and is now moving towards 5281. Currently, the SP500 is undergoing a corrective retracement targeting 5281. At this point, we should monitor whether it breaches 5281. Stability below 5281...
Fed Outlook Boosts Wall Street Pre-Bell; Asia Gains, Europe Slips Wall Street futures indicated a push toward new all-time highs pre-bell on Thursday as traders considered the potential for policy easing by the US Federal Reserve following Wednesday's moderate inflation report. Walmart ( NYSE:WMT ) shares climbed over 4% in premarket trading Thursday after...
U.S. stock index futures edged higher on Thursday, positioning Wall Street to extend gains from the all-time highs reached in the previous session. A subdued inflation report bolstered hopes for interest rate cuts. Economically, investors are anticipating the release of initial claims for state unemployment benefits at 8:30 a.m. ET, seeking insights into the...
Futures Edge Higher as Softer Inflation Report Boosts Rate-Cut Hopes All three major indexes reached record closes following a smaller-than-expected rise in consumer inflation, sparking optimism that inflation is easing after three consecutive months of higher-than-anticipated numbers. The market is now anticipating two quarter-point interest rate cuts from...
USDCAD The Canadian Dollar is exhibiting a bearish trend as long as it remains below 1.3678, with targets set at 1.3628 and 1.3612. A reversal and stabilization above 1.3689 would indicate a shift to a bullish trend, potentially extending up to 1.3732. The pivot price is established at 1.3689, Resistance levels at 1.3732, 1.3773, and 1.3825. Support levels...
New Zealand Dollar Weakens as Inflation Expectations Hit Two-Year Low In early European trading on Monday, the New Zealand dollar declined against the US dollar and lagged behind most other major currencies after reports indicated that business inflation expectations for the current quarter had dropped to their lowest level in two years. Technically : The price...
EURUSD New Forecast The price will try to get 1.0792 and then should break that to continue the bullish trend till 1.0872 otherwise, the bearish trend will start by breaking the breakout line which is between 1.0730 and 1.0700 toward 1.0656 and 1.0614 Pivot Price: 1.0735 Resistance Levels: 1.0792, 1.0872, 1.1000 Support Levels: 1.0656, 1.0613, 1.0577 The...
Oil prices fell early Tuesday following a report that U.S. inflation increased more than anticipated, diminishing prospects for a reduction in U.S. interest rates. Meanwhile, OPEC maintained its positive demand forecast for 2024. West Texas Intermediate crude for June delivery decreased by $0.47 to $78.65 per barrel, and July Brent crude, the international...
USNAS100 New Forecast The price is approaching the resistance zone between 18,400 and 18,480. Following this, it will likely come under bearish pressure, especially if the CPI is released at 3.4% or higher. If the CPI comes in at 3.4%, the price will initially attempt to touch the resistance area before starting a bearish trend. However, if the CPI exceeds...
GOLD New Forecast If inflation proves to be stickier than expected, interest rates could remain elevated for a longer period, posing a challenge for non-interest-bearing bullion. While gold has recently found support due to haven demand amid geopolitical tensions in the Middle East, its vulnerability increases as these tensions ease, leaving it susceptible to...
US30 New Forecast The price exhibits sensitivity to the CPI and remains consolidated between 39,670 and 39,420. Our focus should be on the CPI results. If the CPI comes in below expectations, it will likely support a bullish trend, pushing the price to 39,850 and 39,990. Conversely, if the CPI is 3.4% or higher, it will support a bearish trend, initially...
SPx New Forecast The price is anticipated to approach the resistance levels at 5267 and 5280 before declining to 5249 and 5196. However, the Consumer Price Index (CPI) will have a significant impact on the market. With expectations set at 3.4% or lower, this could bolster bullish trends for indices to reach 5280. Nonetheless, if the CPI is released at 3.4%, the...
Federal Reserve Chair Jerome Powell emphasized the need for continued patience in monitoring inflation trends during his remarks at the Foreign Bankers’ Association's annual meeting in Amsterdam on Tuesday. Powell highlighted that while there was some easing of inflation in the U.S. last year, the first quarter showed unexpectedly high inflation rates, which were...