Bitcoin is trading within the range of $30,000 and $31,000 for the 3rd consecutive week without any major directional signals. Bollinger bands are still contracted at a great percentage indicating volatility might be drying up while the faster moving averages are trading above the slower ones indicating that the overall bullish momentum is still valid. Fear and...
Shares in Wells Fargo & Company (symbol ‘WFC’) incurred losses in the second quarter of the year and is currently down around 9% compared to the 1st of March. The company is expected to report earnings for the quarter ending June 2023, on Friday 14th of July before markets open. The consensus EPS is $1,16 compared to $0,74 in the same quarter last year. Antreas...
Shares in JP Morgan Chase & Co (symbol ‘JPM’) managed to cover the losses incurred throughout the second quarter and is currently in some minor profits of around 2% compared to the beginning of the quarter. The company is expected to report earnings for the quarter ending June 2023, on Friday 14th of July before markets open. The consensus EPS is $3,66 compared to...
WTI Crude oil is gaining momentum, and is heading towards $80: the consensus forecast from the Energy Administration of the US. Easing inflation and recession fears make energy traders reevaluate their estimates about the recession, including price projections for major contracts for Crude Oil and Natural gas. Keeping that in mind, USOIL may achieve $80 pretty...
A weakening dollar narrative drives gold, though, there’s not much strength visible behind the price action. Positions for commercial traders for Gold futures don’t show any meaningful increase. That’s why, for Gold, the 1950-1960 area would be crucial for understanding the further dynamics. Odds for the rise have grown, though, should the US dollar pull back,...
American light oil could return to its recent range in the next few days around the key release of American inflation. The Fed remains hawkish, with a hike on 26 July now almost certain, while last week's NFP was mostly reasonable although the headline figure was lower than expected. The focus in data is regular stock data from the US and rig count later this...
Even though the share price of UnitedHealth Group Incorporated (symbol ‘UNH’) kicked off the second quarter with a rally, we witnessed a rather strong correction in mid-April that’s still in effect today. The company is expected to report quarterly earnings to 30 June 2023 on Friday, 14 July, before markets open. The consensus EPS for the quarter is $6.04 ...
Shares in PepsiCo, Inc. (symbol ‘PEP’) had been rallying through most of the second quarter of the year, only to revert to the downside around the middle of the quarter. The company is expected to report earnings for the quarter ending June 2023, on Thursday, 13 July before markets open. The consensus EPS is $1.95, compared to $1.86 in the same quarter last year....
Oil prices dipped on Monday as investors awaited economic data from the United States. The oil market remains uncertain due to fears of demand control by Western economies and supply-control strategies employed by OPEC. Saudi Arabia and Russia have extended their supply cuts, easing the oil glut. JPMorgan analysts suggest that OPEC+ needs to deepen its cuts and...
The negative Claimant change which is expected by market participants as well as the stable unemployment figure are possibly expected to support the quid against its pairs including the US Dollar. Also if we take a look at the British 30 year gilt we will see that the percentage of 4,715% is near the yearly high of almost 5% while the corresponding American 30...
AUDJPY pair is in focus this week with a possible retracement around $95 before continuing its bullish rally at around $97,50. The main narratives behind this is the differences in the 10 year bond yields of the two countries that show capital flowing more aggressively in favor of the Aussie Dollar, also the pausing of the hikes by the RBA earlier in the week did...
Oil prices are on the rise after Saudi Arabia and Russia announced supply cuts for August. Saudi Arabia extended its voluntary production cut of one million barrels per day (bpd) for another month, while Russia announced it would reduce its oil exports by 500,000 bpd in August. Both countries are trying to prop up prices, which have dropped due to concerns of an...
Bitcoin is trading near a yearly high around the area of $30,000 - $31,000. This has proven to be a strong resistance area in the past with the price failing to make a valid break above it in the last week. Fear and Greed index is at 62% indicating “greed” sentiment.
USOIL has been trading in a declining triangle formation for the last 2 months and currently the price is trading very close to the upper boundary of the triangle possibly indicating a correction to the downside.
XAUUSD has been trading in a declining momentum in the last week and is currently continuing this for up to date in a slower pace. It is testing the support level of the 61.8% of the Fibonacci which if broken we might see further losses for the metal.
Gold reached a three-month low this week as the outlook for the Fed’s policy is still hawkish while inflation has declined significantly. This article looks at possibilities for the yellow metal around important upcoming data, notably personal consumption expenditures later today. Comments by central bankers including Jerome Powell this week were mostly quite...
$1,900 is a crucial psychological support which aligns with the 200-day moving average, so from there it’d be likely to see either a bounce or a breakout lower depending on sentiment, changing expectations for the funds rate and today’s releases. For the time being, the upside still seems to be more favourable based on TA. The slow stochastic is clearly oversold...
Bitcoin's momentum to push through resistance around $31,000 seems to be limited, so it might move lower in the next few days and possibly test $28,500-29,000. The main narrative for that potential decline is possibly excessive enthusiasm last week as participants speculated on the effects of BlackRock's planned bitcoin ETF. The most important data coming up to...