Overall view of US markets - Update of July 22nd week
The idea of cutting rates in order to diminish the effects of the trade war is not well-received by markets. The US dollar index is weakening while gold soared to a 5-year high. The market is certain that the Federal Reserve will cut interest rates at the end of the month, with the only remaining debate over whether it will be 0.25 or 0.50 of a percentage point from the current target range of 2.25% to 2.50%. Thus, U.S. large-cap indexes ended the week slightly below their record highs.
Possible Target: @7600.00 (-200 points).
Advice: The US indices experienced a false breakout leading to an all-time high while settling on a supply zone. They are now trading at the bottom of the channel with increasing odds of a plunge to the demand level. Stay bearish and sell any high points while we don't break upside @7880.00.
Possible Target: @7600.00 (-200 points).
Advice: The US indices experienced a false breakout leading to an all-time high while settling on a supply zone. They are now trading at the bottom of the channel with increasing odds of a plunge to the demand level. Stay bearish and sell any high points while we don't break upside @7880.00.
Comment:
The security is mixed and seems to follow an upward trend. Any breakout would confirm the final trend's direction.
Comment:
The index is ranging around the supply level. A strong movement is expected.
Comment:
Market is following the upside channel.
Trade closed: target reached
