After a successful breach of the 1.1020
support the EUR/USD downtrend continues with a potential target - the
low at 1.0880. The supports along the way are 1.0970, 1.0940 and
1.0900. The main resistance from the higher time frames remains 1.1064,
and only a breach of 1.1090 could shift the negative sentiment to a
positive one. The statement of the chairman of the Federal Reserve
(17:00 UK time) regarding the state of the US economy will be closely
monitored by all market participants as it will probably increase
volatility for all USD pairs. The main factor that will drive
volatility are hints for the future direction FED’s monetary
policy. The US inflation data (13:30 UK time) should also lead to some
interesting price action as the CPI might suggest whether the Federal
Reserve will continue cutting the interest rate or will pause.
Even though the momentum is slowing down,
the uptrend continues as buyers are preparing for a test of the 109.19
resistance with next target at 109.45. Any potential retracements
should remain limited above 108.64 - a level that currently holds the
market. If it's breached, sellers would probably return and push down
the price towards 108.00.
It looks like the short term downtrend has
ended and the price is moving comfortably above the 1.28 support and
buyers are preparing for a test at the resistance at 1.2858. The
sentiment remains positive and the major uptrend could be renewed with
the price heading towards the highs around 1.2970. An alternative
scenario could be if the 1.28 level is breached, this would indicate a
retracement of higher ranking that belongs to the higher time frames.
The next major support from the higher frames after 1.2800 is 1.2550
and the inflation data at 09:30 UK time should fuel the already high
Trading continues in a range between 13180
and 13300. After yesterday’s unsuccessful test of 13300, the
sentiment remains positive but a move towards 13180 levels, where
buyers should step in, remains probable. Should the price breach the
support at 13180, a deeper retracement could be expected with major
support at around 12950.
Yesterday’s trading session
began optimistically and making new records was highly expected.
However optimism didn't last long after President Trump threatened
China to slap more substantial tariffs if there is no trade deal. On
the announcement, US30 crashed from its previous high. Major support
remains around 27540 and news around trade relations between the two
most powerful economies will highly impact equity markets. The US
inflation data (13:30 UK time) and Powell’s statement (17:00
UK time) will impact the US30 because of the reasons mentioned in the
Where will the market go?
Stay informed with a free subscription to our analyses.
DeltaStock’s daily technical analyses are provided by a team of professional dealers with many years of experience in the forex, indices, and shares trading scene. Our analysts are frequently invited to comment on a variety of economic topics for some of the nation’s leading financial portals, such as Investor.bg and Bloomberg TV Bulgaria.
These analyses are for information purposes only. They do not post a buy or sell recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources.
The forecasts made are based on technical analysis. However, Deltastock's Analyst Deptartment also takes into consideration a number of fundamental and macroeconomic factors, which we believe may impact the price moves of the observed instruments.
Deltastock AD assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Deltastock AD shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result.
Any information is subject to change without prior notice.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.