Markets A surprise but inconclusive outcome of the French parliamentary election after some initial jitters also resulted in an inconclusive market (European) reaction yesterday. As the left group Nouveau Front Populair gained most seats in Read more…
Short Term Elliott Wave View in S&P 500 (SPX) suggests that cycle from 4.20.2024 low is in progress as a 5 waves impulse. Up from 4.20.2024 low, wave 1 ended at 5325.49 and pullback in Read more…
Daily Pivots: (S1) 0.6726; (P) 0.6744; (R1) 0.6755; More… A temporary top is formed at 0.6760 in AUD/USD and intraday bias is turned neutral first. Outlook will stay bullish as long as 0.6619 support holds. Read more…
Daily Pivots: (S1) 1.3623; (P) 1.3635; (R1) 1.3647; More… Intraday bias in USD/CAD stays neutral and outlook is unchanged. Corrective pattern from 1.3845 could still extend. Break of 1.3589 will target 100% projection of 1.3845 Read more…
Daily Pivots: (S1) 1.0802; (P) 1.0824; (R1) 1.0845; More…. A temporary top should be formed at 1.0844 in EUR/USD and intraday bias is turned neutral first. Further rally is in favor as long as 55 Read more…
Daily Pivots: (S1) 1.2785; (P) 1.2815; (R1) 1.2838; More… Intraday bias in GBP/USD is turned neutral first as it retreated ahead of 1.2859 resistance. Outlook will stay bullish as long as 1.2612 support holds, even Read more…
Daily Pivots: (S1) 0.8954; (P) 0.8966; (R1) 0.8987; More… Intraday bias in USD/CHF is turned neutral with current recovery. As noted before, rebound from 0.8825 could have completed at 0.9049, after rejection by falling channel Read more…
Most European indices including the British big caps closed Monday’s session in the negative. The French CAC 40 underperformed its peers with a 0.63% loss in the session after an attempt to the highest level Read more…
Daily Pivots: (S1) 160.28; (P) 160.84; (R1) 161.35; More… Intraday bias in USD/JPY remains neutral for the moment, as range trading continues. Further rally is expected with 160.25 minor support intact. On the upside, break Read more…
Dollar is recovering mildly overnight, as traders prepare for Fed Chair Jerome Powell’s highly anticipated two-day Congressional testimony. Powell is scheduled to address the Senate today and the House tomorrow. Fed’s latest dot plot suggests Read more…