Thursday July 31 - Market Summary
United States:
June personal income rose by 0.2 percent.
June personal spending increased by 0.3 percent.
Core PCE inflation was up 0.2 percent, showing steady disinflation.
The Federal Reserve is likely to stay cautious; no immediate rate cuts expected.
Japan:
The Bank of Japan kept its interest rate at 0.5...
The USDJPY pair is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the falling resistance, suggesting a temporary relief rally within the downtrend.
Key resistance is located at 149.90, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish...
The USD/CHF pair is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the falling resistance, suggesting a temporary relief rally within the downtrend.
Key resistance is located at 0.8107, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish...
The USDCAD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 1.3730 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 1.3730 would confirm ongoing upside momentum, with potential targets at:
1.3830 – initial...
Key Support and Resistance Levels
Resistance Level 1: 2278
Resistance Level 2: 2300
Resistance Level 3: 2318
Support Level 1: 2232
Support Level 2: 2213
Support Level 3: 2193
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 not...
US equities pulled back, breaking a six-day winning streak for the S&P 500 (-0.30%) as sentiment cooled ahead of key earnings and the Federal Reserve’s rate decision. The Nasdaq 100 (NDX) was weighed down by weakness in megacap tech stocks—the Mag-7 fell -0.68%, with Meta declining -2.46% and Microsoft earnings due after the close.
Post-earnings disappointments...
The Brent Crude remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 7133 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 7133 would confirm ongoing upside momentum, with potential targets at:
7352 – initial...
The WTI Crude remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 6857 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 6857 would confirm ongoing upside momentum, with potential targets at:
7123 – initial...
The CAC 40 index continues to display a bullish bias, underpinned by a well-established rising trend. Recent intraday price action indicates a breakout from consolidation, suggesting renewed upward momentum.
Key Technical Levels:
Support:
7770 – This level marks the prior consolidation zone and now serves as critical support.
7740 – Secondary support, guarding...
The FTSE remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 9092 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 9092 would confirm ongoing upside momentum, with potential targets at:
9210 – initial...
Key Data Releases:
US:
Q2 GDP – Crucial insight into US economic momentum.
July ADP Employment – A labor market pulse-check ahead of Friday's payrolls.
June Pending Home Sales – Gauges housing market resilience.
Europe:
Germany, France, Italy, Eurozone Q2 GDP – A comprehensive picture of Eurozone growth trajectory.
June Retail Sales (Germany), Consumer...
The BTCUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 114,850 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 114,850 would confirm ongoing upside momentum, with potential targets at:
122,900 –...
The ETHSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 3,667 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 3,667 would confirm ongoing upside momentum, with potential targets at:
4,020 – initial...
The LTCUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 1,070 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 1,070 would confirm ongoing upside momentum, with potential targets at:
1.132 – initial...
Key Support and Resistance Levels
Resistance Level 1: 45197
Resistance Level 2: 45507
Resistance Level 3: 46000
Support Level 1: 44390
Support Level 2: 43900
Support Level 3: 43590
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...
US equities were largely subdued, with the S&P 500 inching up +0.02%, marking its sixth straight record high, the longest streak since July 2023. Despite the headline gain, over 70% of S&P 500 stocks declined, revealing weak breadth and suggesting index gains are being driven by a narrow group of large-cap tech names.
Tech led the way, with the information...
The EURAUD pair is currently trading with a bearish bias, aligned with the broader range-bound sideway consolidation. Recent price action shows a retest of the resistance, (previous rising support)
Key resistance is located at 1.7907, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish rejection from...
The EURCHF pair is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the falling resistance, suggesting a temporary relief rally within the downtrend.
Key resistance is located at 0.9340, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish...
