Stock benchmarks registered modest gains on Tuesday, extending the sentiment seen in Asia overnight, with investors bracing for today’s crucial US inflation data.
As previously said in our last report, market sentiment towards risky assets has lost a bit of its direction over the past few days after Federal Reserve officials expressed mixed hints about the future...
According to them:
→ the price of the S&P 500 index will reach 4,500 at the end of the year (previous forecast = 4,200);
→ the dollar will continue to remain strong.
According to Goldman Sachs analysts, published yesterday, the price of the S&P 500 index will fluctuate around current levels, forming a consolidation zone.
That is, a decline in the S&P 500 is...
Equities climbed slightly at the start of a new week in Europe despite a bullish trend losing direction ahead of this week’s CPI data.
Investors and analysts are bracing for crucial inflation prints from the US, EU and the UK this week, with the desperate need to clarify where monetary policies will likely go in these regions, especially after the mixed signals...
European benchmarks opened lower following the bearish trend sparked at the end of the US trading session yesterday but quickly bounced back as bull traders defended support levels.
Fed Chairman Jerome Powell’s warning that borrowing rates may not be at “restrictive enough” levels surprised investors yesterday, stalling the rally in equities and treasuries while...
hi Traders,
EU50 broke the upsloping support and retested it as resistance which confirms our bearish bias.
It's still in pretty low risk area for short entry.
Difficult to be bullish on EU50 , especially now when we've seen a weekly bearish engulfing candle last week.
Risk - Reward ratio: 4.11
Entry , stop loss and target are shown on the chart
Good luck
Eurostoxx 50 at Important Support. Production in Europe is Declining
As data released this morning showed:
→ Purchasing Managers' Index (PMI) in France: actual = 42.6, expected = 44.4, a month ago = 43.6. Thus, the index dropped to its lowest level since the panic associated with the spread of coronavirus.
→ PMI in Germany: actual = 40.7, expected = 40.1, a...
Eurostoxx 50 eu50eur bullish for some bucks at 15 min chart, target 60
Its my bet on this one, but we can have a need of close the position if it turns arround
Pivot: 4280.00
Our preference:
long positions above 4280.00 with targets at 4341.00 & 4358.00 in extension.
Alternative scenario:
below 4280.00 look for further downside with 4257.00 & 4237.00 as targets.
Comment:
the RSI is bullish and calls for further advance
Pivot: 4275.00
Our preference:
short positions below 4275.00 with targets at 4247.00 & 4220.00 in extension.
Alternative scenario:
above 4275.00 look for further upside with 4290.00 & 4315.00 as targets.
Comment:
the upward potential is likely to be limited by the resistance at 4275.00.
We've seen an outbreak from the mid July range. Today's upward retracement has built a new bear flag. Dtarting from this retracement level we could see new lower prices now.
Pivot: 4294.00
Our preference:
long positions above 4294.00 with targets at 4349.00 & 4372.00 in extension.
Alternative scenario:
below 4294.00 look for further downside with 4275.00 & 4240.00 as targets.
Comment:
the RSI lacks downward momentum.
We have reached a sufficiently old support/resistance level now. As the trend is still bullish we may consider this as a fulfilled correction with renewed upward potential.
We are still trading in a range so no vast profit is expected but the support seems to important to me to miss the opportunity of a rebound.
Pivot: 4405.00
Our preference:
short positions below 4405.00 with targets at 4270.00 & 4219.00 in extension.
Alternative scenario:
above 4405.00 look for further upside with 4430.00 & 4457.00 as targets.
Comment:
as long as the resistance at 4405.00 is not surpassed, the risk of the break below 4270.00 remains high.
I see yesterday's spike up as growing pressure to the upside. That's why I am using the intraday correction towards the former trading channel as a chance to take part in the expected continuation of the rise.
