Tech drag dominates: The NASDAQ fell -1.46%, its worst day since Aug 1, led by the Magnificent 7 (-1.67%). Nvidia (-3.5%) was the biggest loser and set the tone for semis and AI-linked names.
Index divergence: Despite the cap-weighted S&P falling (-0.59%), the equal-weighted S&P rose (+0.45%), showing the selloff was tech-concentrated rather than broad. That...
The Brent Crude Oil is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the resistance, suggesting a further selling pressure within the downtrend.
Key resistance is located at 6790, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish...
The WTI Crude Oil is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the resistance, suggesting a further selling pressure within the downtrend.
Key resistance is located at 6600, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish...
The EURGBP remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 0.8590 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 0.8590 would confirm ongoing upside momentum, with potential targets at:
0.8680 – initial...
The FTSE remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 9114 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 9114 would confirm ongoing upside momentum, with potential targets at:
9235 – initial...
China LPR (1y/5y): Signals PBoC stance; 5-yr guides mortgage rates/housing.
UK July CPI/RPI + June House Prices: Key for BoE cut timing; watch core/services.
Japan July Trade & June Core Machine Orders: Gauge external demand and capex.
Germany July PPI: Eurozone disinflation pulse from the supply side.
Denmark Q2 GDP: Nordic growth snapshot (spillovers to ECB...
The ADAUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 8,690 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 8,690 would confirm ongoing upside momentum, with potential targets at:
10,200 – initial...
The ETHUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 4,100 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 4,100 would confirm ongoing upside momentum, with potential targets at:
4,450 – initial...
The BTCUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 115,580 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 115,580 would confirm ongoing upside momentum, with potential targets at:
122,334 –...
Key Support and Resistance Levels
Resistance Level 1: 45400
Resistance Level 2: 45660
Resistance Level 3: 46000
Support Level 1: 44380
Support Level 2: 44080
Support Level 3: 43675
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is...
Summary:
The S&P 500 (-0.01%) slipped for a second consecutive session, dragged by weakness in tech.
The Magnificent 7 (-0.16%) edged lower, with Intel (-3.66%) among the worst performers on reports of a potential 10% US government stake, partly offset by news that SoftBank will buy $2bn in Intel shares.
Broader sentiment was weighed down by a hawkish rates...
The EURAUD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 1.7930 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 1.7930 would confirm ongoing upside momentum, with potential targets at:
1.8050 – initial...
The EURCHF remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 0.9384 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 0.9384 would confirm ongoing upside momentum, with potential targets at:
0.9455 – initial...
The EURUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 1.1544 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 1.1544 would confirm ongoing upside momentum, with potential targets at:
1.1714 – initial...
The DAX remains in a bullish trend, with recent price action indicating a potential oversold rally within the broader uptrend.
Support Zone: 23790 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 23790 would confirm ongoing upside momentum, with potential targets at:
24540 – initial...
Data:
US July building permits and housing starts will give an updated read on the housing sector’s resilience amid higher rates.
Italy June current account balance and ECB June current account provide insight into Eurozone trade and capital flows.
Canada July CPI will be closely watched for inflation dynamics and Bank of Canada policy signals.
Earnings:
Home...
Trend Overview:
The AUDUSD currency price remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 0.6420 (primary pivot), followed by 0.6400 and 0.6370
Resistance: 0.6560...
The NZDUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 0.5887 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 0.5887 would confirm ongoing upside momentum, with potential targets at:
0.6020 – initial...
