As the Dollar seems to be getting more weaken ,the Gold price most likely to look up . Look for long if the price creates the SPRING.
US Dollar is weaken in ahead of big news. The bulls returned to the game at the level of 1.07380. Look for longs currently.
****** EURUSD ******* The EUR/USD approaching the 1.09292, A break higher would strengthen the outlook for the Euro to the next station 1.1034. A failure could clear the way for a bearish correction at support 1.085.
EURUSD is seen as very short term bullish, keep an eye at Fin 50%.
Gold price rejected at 1800 as it keeps bearish potential move towards 1744_1730. Look for selling opportunities.
On a shorter-term basis, the Greenback pushed up for a test of the August high this morning.
Currently the market is seen as bullish due to the coolest inflation data, however mainly the inflation drops to 8.5 percent in July as fuel prices dip. Having the inflation 8.5 will not confirm the bottom of the SPX . Its too early to jump as 8.5 is still too high. I still think the price will test the level 4036 before it move sup to 4300 or moving down. .
S&P jump 2% as inflation finally cools off, Look for short-term selling opportunities as there is a high probability of the price testing the Fib level - 38% then 50%.
SPX was unable to continue recent bullish momentum today.
US inflation shows no signs of slowing down, Annual inflation rate in the US unexpectedly accelerated to 8.6% in May of 2022. S&P 500 reacted to the peaking inflation by slowing the market by nearly 22% from ATH. Is really America heading towards a recession?
SPX - Symmetrical Triangle Initial Jobless Claims 229K 227K 231K
We can expect a short term pull back ( Sell-off ) right at the Strong/R level 32744. The price will Re- test the trend line and pull up in order to confirm the bullish continuation.
Signaling the stock market is oversold and due for at least a short-term bounce to the level at 4090
1 minute ago The Ukraine-Russia crisis complicates ECB's path to higher rate. The Pair seems to have geared down to berish, but still should wait for the sell-off confirmation as the pair can move up from the level at 129.70/71. Look for selling opportunities if the pair drops below 129.70 in order to minimize the risk.
GBPUSD currently seems to be remaining berish, the pair is to touch 50-MA in short term .If the pair falls below the level 38% Feb/R , the next bearish target can lead to 1.3500. On the Upside if the pair runs above the level 1.3643, It probably will face the next level at 1.3700 right above 200 MA. Resistance - previous highs of 1.3643 support - 1.3356. Next...