Forex Technical Analysis By Capital Street fx

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Daily FX Analysis – GBP/USD drops, EUR/USD navigates, NZD/USD strengthens, USD/CHF soars.​

Introduction​

GBP/USD faces pressure, dropping towards 1.2650 after disappointing UK Retail Sales data. The pair grapples with a resurgent US Dollar and cautious market sentiment, awaiting crucial US data and Federal Reserve speeches. Meanwhile, EUR/USD remains stable below 1.0900, monitoring ECB President Lagarde’s speech. NZD/USD gains strength above 0.6100, while USD/CHF rises to nearly 0.8680 on SNB Chairman’s concerns about the appreciating Swiss Franc. Market dynamics continue to evolve as traders brace for upcoming economic indicators and central bank communications.

Markets In Focus Today – GBP/USD​

GBP/USD Drops Toward 1.2650 After UK Retail Sales Data.​

GBP/USD is dropping toward 1.2650, under intense selling pressure after the UK Retail Sales dropped more than expected in December. The pair is also feeling the heat from a pause in the US Dollar decline, as sentiment remains tepid ahead of top-tier US data, Fedspeak. GBP/USD reversed its direction after dipping below 1.2700 and closed in positive territory above 1.2750 on Thursday. The positive shift seen in risk mood supports the pair on Friday as markets await Producer Price Index (PPI) data from the US. Inflation figures provided a boost to the US Dollar (USD) with the initial reaction but they seemingly failed to persuade markets that the Federal Reserve (Fed) could refrain from lowering the policy rate in March.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 49.84 | Neutral Zone | Neutral

Stochastic Oscillator : 47.09 | Neutral Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment : Neutral Market Direction : Buy​

Trade Suggestion : Limit Buy : 1.2655 | Take Profit : 1.2754 | Stop Loss : 1.2595

EUR/USD​

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Daily FX Analysis – Red Sea, Stable EUR, AUD Retreats, USD/JPY Eyes BoJ.​

Introduction​

The GBP/USD consolidates above 1.2700 amid modest USD weakness, driven by a positive risk-on environment. Despite a rebound in the pair, rising tensions in the Red Sea pose potential challenges. Meanwhile, EUR/USD stabilizes near 1.0900, influenced by an improving risk mood. The Australian Dollar retraces gains as the market awaits potential policy rate reduction by the Australian Central Bank. Japanese Yen struggles against the USD, with investors anticipating dovish actions from the Bank of Japan amid geopolitical risks and China’s economic concerns.

Markets In Focus Today – GBP/USD​

GBP/USD Consolidates Above 1.2700 On Modest USD Weakness.​

GBP/USD kicks off the new week on a positive note, trading above 1.2700 early Monday. The risk-on environment bolsters the rebound of the major pair. However, the rising tension in the Red Sea might boost safe-haven asset demand and cap the pair's upside. GBP/USD staged a rebound in the second half of the previous week and erased a large portion of its weekly losses. The pair’s near-term technical outlook is yet to point to a build-up of bullish momentum as it holds steady at around 1.2700 in the European morning on Monday. Nevertheless, investors remain indecisive about the Federal Reserve (Fed) policy pivot timing ahead of this week’s key growth and inflation data from the US.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 51.69 | Buy Zone | Bullish

Stochastic Oscillator : 55.73 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2685 | Take Profit: 1.2792 | Stop Loss: 1.2619

EUR/USD​

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Daily Index Analysis – DOW soars, S&P 500 breaks records, FTSE defies storm.​

Introduction:​

After Wall Street’s record-setting rally, Asian markets displayed varied performances on Monday. The Shanghai Composite declined by 2.68%, while Japan’s Nikkei 225 rose by 1.62%. In Europe, shares mirrored the positive trend, with DAX futures up 0.48%, CAC 40 futures rising 0.49%, and UK 100 futures gaining 0.15%. The S&P 500 in the U.S. reached a two-year closing high on Friday, propelled by optimism in artificial intelligence and a surge in chipmakers and major tech stocks. Attention now shifts to the European Central Bank (ECB).

Market In Focus For Today – DOW JONES​

Bullish signals are evident in the Dow Jones Industrial Average (DOW) as it experiences a current surge, surpassing the $37,791.43 level. This breakout suggests a departure from a triple-top pattern.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 37991.98 | Positive Crossover | Bullish
• MA 20: 37702.84 | Positive Crossover | Bullish
• MA 50: 37771.71 | Positive Crossover | Bullish

Simple:​

• MA 5: 38023.05 | Positive Crossover | Bullish
• MA 20: 37702.22| Positive Crossover | Bullish
• MA 50: 37771.34 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 64.98| Buy Zone| Bullish

Stochastic Oscillator: 100| Buy Zone | Positive

Resistance And Support Levels:​

• R1: 38154.50 | R2: 38784.03
• S1: 37362.51| S2: 36672.06

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 37585.89 | Take Profit: 38296.65| Stop Loss: 37139.13.

S&P 500:​

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Daily FX Analysis – Red Sea, Stable EUR, AUD Retreats, USD/JPY Eyes BoJ.​

Introduction​

The GBP/USD consolidates above 1.2700 amid modest USD weakness, driven by a positive risk-on environment. Despite a rebound in the pair, rising tensions in the Red Sea pose potential challenges. Meanwhile, EUR/USD stabilizes near 1.0900, influenced by an improving risk mood. The Australian Dollar retraces gains as the market awaits potential policy rate reduction by the Australian Central Bank. Japanese Yen struggles against the USD, with investors anticipating dovish actions from the Bank of Japan amid geopolitical risks and China’s economic concerns.

Markets In Focus Today – GBP/USD​

GBP/USD Consolidates Above 1.2700 On Modest USD Weakness.​

GBP/USD kicks off the new week on a positive note, trading above 1.2700 early Monday. The risk-on environment bolsters the rebound of the major pair. However, the rising tension in the Red Sea might boost safe-haven asset demand and cap the pair's upside. GBP/USD staged a rebound in the second half of the previous week and erased a large portion of its weekly losses. The pair’s near-term technical outlook is yet to point to a build-up of bullish momentum as it holds steady at around 1.2700 in the European morning on Monday. Nevertheless, investors remain indecisive about the Federal Reserve (Fed) policy pivot timing ahead of this week’s key growth and inflation data from the US.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 51.69 | Buy Zone | Bullish

Stochastic Oscillator : 55.73 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2685 | Take Profit: 1.2792 | Stop Loss: 1.2619

EUR/USD​

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Post automatically merged: Jan 25, 2024

Daily FX Analysis – Pound soars, Euro steadies, Kiwi rises, Loonie retreats on crude.​

Introduction​

GBP/USD gains momentum as the Bank of England signals a likely maintenance of its restrictive policy, reaching near 1.2740. Meanwhile, EUR/USD consolidates near 1.0900 amid uncertainty about the European Central Bank’s potential interest rate cut. NZD/USD sees modest gains above mid-0.6000s, influenced by concerns about China’s economy. USD/CAD grapples with retracement challenges amid upbeat crude prices, anticipating the Bank of Canada to hold its 5.0% policy rate in Wednesday’s meeting.

Markets In Focus Today – GBP/USD​

GBP/USD Builds On Expectation As BoE To Maintain The Restrictive Policy Trades Near 1.2740.​

GBP/USD moves upward for the second successive session on Tuesday, inching higher to near 1.2740. The expectations of a status quo in the BoE’s monetary policy contribute to the positive performance of the Pound Sterling, which underpins the pair. GBP/USD staged a rebound in the second half of the previous week and erased a large portion of its weekly losses. The pair’s near-term technical outlook is yet to point to a build-up of bullish momentum as it holds steady at around 1.2700 in the European morning on Monday. The US Dollar (USD) rally forced GBP/USD to come under bearish pressure last week. However, the improving risk mood toward the end of the week, as reflected by the impressive rally seen in Wall Street’s main indexes, weighed on the USD and opened the door for a decisive rebound in the pair.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Positive Crossover | Bullish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Positive Crossover | Bullish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.26 | Positive Crossover | Bullish

RSI (Relative Strength Index): 56.05 | Buy Zone | Bullish

Stochastic Oscillator : 64.55 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2733 | Take Profit: 1.2822 | Stop Loss: 1.2684

EUR/USD​

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Daily FX Analysis – EUR/USD Struggles, GBP/USD Rebounds, USD/CHF Falters, NZD/USD Surges.​

Introduction​

EUR/USD hovers below 1.0900 following Germany’s PMI data revealing continued economic contraction, hindering Euro’s recovery. Meanwhile, GBP/USD sees improvement near 1.2700 after a sharp Tuesday reversal. USD/CHF, ending its winning streak, trades below 0.8700 amid subdued US Dollar and Fed rate cut speculations. NZD/USD extends gains to 0.6110, benefiting from a weaker USD and in anticipation of US PMI data, following New Zealand’s CPI release. Investors await the ECB’s monetary policy and US GDP data before making significant moves.

Markets In Focus Today – EUR/USD​

EUR/USD Stays Below 1.0900 After The German PMI Data.​

EUR/USD continues fluctuating in a narrow channel below 1.0900 on Wednesday. The data from Germany showed that the private sector’s economic activity continued to contract in early January, not allowing the Euro to gather recovery momentum. EUR/USD turned south and touched its lowest level since mid-December at 1.0820 during the American trading hours on Tuesday. Although the pair managed to recover above 1.0850 early Wednesday, the technical outlook is yet to point to a build-up of bullish momentum. Nevertheless, investors are likely to refrain from taking large positions ahead of the European Central Bank’s (ECB) monetary policy announcements on Thursday.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.09 | Negative Crossover | Bearish
• MA 20 : 1.09 | Negative Crossover | Bearish
• MA 50 : 1.09 | Negative Crossover | Bearish

Simple :​

• MA 10 : 1.09 | Negative Crossover | Bearish
• MA 20 : 1.09 | Negative Crossover | Bearish
• MA 50 : 1.09 | Negative Crossover | Bearish

RSI (Relative Strength Index): 43.09 | Neutral Zone | Neutral

Stochastic Oscillator : 22.06 | Sell Zone | Negative

Resistance And Support Levels :​

• R1 : 1.11 R2 : 1.12
• S1 : 1.08 S2 : 1.07

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Stop Sell: 1.0851 | Take Profit: 1.0749 | Stop Loss: 1.0918

GBP/USD​

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Daily Index Analysis – Wall Street soars, Dow hits 38K, S&P rises, FTSE falls.​

Introduction:​

Asian markets respond to Wall Street’s record performance, with gains in Shanghai, Hang Seng, Kospi, and S&P/ASX 200. Meanwhile, European stocks see a modest rise ahead of the ECB meeting. In the U.S., the S&P 500 reaches another all-time high as technology stocks lead the way, while investors eagerly await upcoming corporate reports for insights into this year’s earnings outlook.

Market In Focus For Today – DOW JONES​

Tuesday morning saw minimal movement in U.S. stock futures following the historic milestone of the Dow Jones surpassing 38,000 for the first time. Dow futures dipped by 17 points, or 0.04% decrease.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 38127.08 | Positive Crossover | Bullish
• MA 20: 37767.23 | Positive Crossover | Bullish
• MA 50: 37784.71 | Positive Crossover | Bullish

Simple:​

• MA 5: 38156.05 | Positive Crossover | Bullish
• MA 20: 37767.22| Positive Crossover | Bullish
• MA 50: 37784.34 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 66.98| Buy Zone| Bullish

Stochastic Oscillator: 98.95| Buy Zone | Positive

Resistance And Support Levels:​

• R1: 38289.20 | R2: 38670.30
• S1: 37990.50| S2: 37485.80

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 37805.10 | Take Profit: 38217.10| Stop Loss: 37557.90.

S&P 500:​

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Daily Index Analysis – Nasdaq, S&P 500 bullish, DAX cautious, Euro STOXX defies.​

Introduction:​

Global markets witness diverse movements: Asian stocks rise on hopes of a Chinese rescue package, with the Shanghai Composite up 1.80%. European markets show improvement driven by positive Eurozone PMI data. In the U.S., indices display mixed performance as investors await major earnings reports, contributing to the S&P 500 reaching a new record high on Tuesday.

Market In Focus For Today – Nasdaq 100​

Nasdaq-100 futures experience an increase following a surge in Netflix subscribers.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 17569.54 | Positive Crossover | Bullish
• MA 20: 17248.83 | Positive Crossover | Bullish
• MA 50: 16941.36 | Positive Crossover | Bullish

Simple:​

• MA 5: 17553.05 | Positive Crossover | Bullish
• MA 20: 17248.02| Positive Crossover | Bullish
• MA 50: 16941.31 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 77.07| Buy Zone| Bullish

Stochastic Oscillator: 92.05| Buy Zone | Positive

Resistance And Support Levels:​

• R1: 17664.95 | R2: 18114.72
• S1: 17154.40| S2: 16643.84

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 17190.86 | Take Profit: 17664.95| Stop Loss: 16886.96.

S&P 500:​

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Daily FX Analysis – EUR/USD, GBP/USD, AUD/USD, USD/JPY Dynamics.​

Introduction​

EUR/USD hovers near 1.0880, tracing the 38.2% Fibonacci level in the early European session, driven by a US Dollar retracement. Wednesday’s bullish momentum to 1.0930 retreated later as the USD rebounded. Investors await the ECB’s policy announcements. GBP/USD experiences a downturn after reaching a two-week high, currently trading around 1.2710. AUD/USD faces a second day of losses at 0.6570 amid an enhanced US Dollar, reacting to positive S&P PMI data. USD/JPY retreats from a one-week peak following the Bank of Japan’s hawkish stance.

Markets In Focus Today – EUR/USD​

EUR/USD Moves Lower To Near 1.0880 Followed By The 38.2% Fibonacci Level.​

EUR/USD traded lower near 1.0880 during the early European session on Thursday as the US Dollar makes efforts to retrace its recent losses. The 14-day Relative Strength Index (RSI) for the pair is positioned below the 50 mark, indicating a bearish momentum in the market. EUR/USD gathered bullish momentum and advanced to the 1.0930 area on Wednesday. With the US Dollar (USD) staging a rebound later in the day, the pair erased a large portion of its daily gains and returned below 1.0900. Investors await the European Central Bank’s (ECB) policy announcements and high-tier data releases from the US.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.09 | Negative Crossover | Bearish
• MA 20 : 1.09 | Negative Crossover | Bearish
• MA 50 : 1.09 | Negative Crossover | Bearish

Simple :​

• MA 10 : 1.09 | Negative Crossover | Bearish
• MA 20 : 1.09 | Negative Crossover | Bearish
• MA 50 : 1.09 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.69 | Buy Zone | Bullish

Stochastic Oscillator : 30.64 | Sell Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.11 R2 : 1.12
• S1 : 1.08 S2 : 1.07

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 1.0913 | Take Profit: 1.0816 | Stop Loss: 1.0978

GBP/USD​

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Daily Index Analysis – Netflix, S&P 500 Records, DAX Surge.​

Introduction:​

In the Asian indices market, most shares see gains, particularly in China following recent policy moves. However, European shares decline at the open, awaiting updates from the ECB on rates. Meanwhile, U.S. equities advance, propelled by positive earnings and economic data, leading to a rise in yields. Global markets reflect optimism, with MSCI’s global equity index hitting a near two-year high, fuelled by encouraging developments in Europe, the U.S., and expectations of Chinese stimulus support.

Market In Focus For Today – DOW JONES​

The Dow Jones Industrial Average briefly rallied 150 points Wednesday, as Wall Street reacted to Netflix’s (NFLX) earnings report.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 38089.54 | Negative Crossover | Bearish
• MA 20: 37908.35 | Positive Crossover | Bullish
• MA 50: 37809.36 | Positive Crossover | Bullish

Simple:​

• MA 5: 38103.05 | Negative Crossover | Bearish
• MA 20: 37908.37| Positive Crossover | Bullish
• MA 50: 37809.31 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 57.43| Buy Zone| Bullish

Stochastic Oscillator: 13.31| Sell Zone | Negative

Resistance And Support Levels:​

• R1: 38299.50 | R2: 38795.01
• S1: 37969.16| S2: 37308.48

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 37728.91 | Take Profit: 38299.50| Stop Loss: 37308.48.

S&P 500:​

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Daily FX Analysis – EUR/USD, GBP/USD, AUD/USD, USD/JPY Dynamics.​

Introduction​

EUR/USD hovers near 1.0880, tracing the 38.2% Fibonacci level in the early European session, driven by a US Dollar retracement. Wednesday’s bullish momentum to 1.0930 retreated later as the USD rebounded. Investors await the ECB’s policy announcements. GBP/USD experiences a downturn after reaching a two-week high, currently trading around 1.2710. AUD/USD faces a second day of losses at 0.6570 amid an enhanced US Dollar, reacting to positive S&P PMI data. USD/JPY retreats from a one-week peak following the Bank of Japan’s hawkish stance.

Markets In Focus Today – EUR/USD​

EUR/USD Moves Lower To Near 1.0880 Followed By The 38.2% Fibonacci Level.​

EUR/USD traded lower near 1.0880 during the early European session on Thursday as the US Dollar makes efforts to retrace its recent losses. The 14-day Relative Strength Index (RSI) for the pair is positioned below the 50 mark, indicating a bearish momentum in the market. EUR/USD gathered bullish momentum and advanced to the 1.0930 area on Wednesday. With the US Dollar (USD) staging a rebound later in the day, the pair erased a large portion of its daily gains and returned below 1.0900. Investors await the European Central Bank’s (ECB) policy announcements and high-tier data releases from the US.

Technical Overview With Chart :​

1024×343 75.6 KB

Moving Averages :​

Exponential :​

• MA 10 : 1.09 | Negative Crossover | Bearish
• MA 20 : 1.09 | Negative Crossover | Bearish
• MA 50 : 1.09 | Negative Crossover | Bearish

Simple :​

• MA 10 : 1.09 | Negative Crossover | Bearish
• MA 20 : 1.09 | Negative Crossover | Bearish
• MA 50 : 1.09 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.69 | Buy Zone | Bullish

Stochastic Oscillator : 30.64 | Sell Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.11 R2 : 1.12
• S1 : 1.08 S2 : 1.07

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 1.0913 | Take Profit: 1.0816 | Stop Loss: 1.0978

GBP/USD​

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Daily FX Analysis – GBP/USD trends, EUR/USD pressure, USD/CAD at 1.3500, NZD/USD defense.​

Introduction​

GBP/USD remains in a consolidation phase below a month-old descending trend-line resistance, hovering just above the 1.2700 level. The pair, which saw a bullish surge earlier in the week, stabilized above 1.2700 despite a minor correction. Meanwhile, EUR/USD faces renewed bearish pressure, slipping below 1.0850, driven by USD strength amid risk aversion. The European Central Bank (ECB) maintained key rates, and USD/CAD is trading lower at 1.3472. NZD/USD is on the defensive above 0.6100, influenced by a stronger USD following robust US GDP data, with the Core PCE in focus for further market direction.

Markets In Focus Today – GBP/USD​

GBP/USD Consolidates Below One-Month-Old Descending Trend-Line Resistance.​

The GBP/USD pair struggles to gain meaningful traction on Friday and oscillates in a narrow trading band, just above the 1.2700 mark. Spot prices, meanwhile, remain well within striking distance of a nearly two-week high touched on Wednesday. GBP/USD gathered bullish momentum and advanced to its highest level in nearly two weeks above 1.2770 on Wednesday. Although the pair staged a downward correction in the American session, it managed to post daily gains by stabilizing above 1.2700. The PMI data from the UK showed that the private sector’s economic activity continued to expand at an accelerating pace in early January.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.27 | Positive Crossover | Bullish

RSI (Relative Strength Index): 50.13 | Buy Zone | Bullish

Stochastic Oscillator : 57.85 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Neutral Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2650 | Take Profit: 1.2767 | Stop Loss: 1.2568

EUR/USD​

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Daily Index Analysis – Nasdaq turbulence, S&P records, FTSE luxury, Euro Stoxx ECB boost.​

Introduction:​

In the global indices market, Asian shares predominantly declined despite encouraging U.S. economic growth indicators. European equities displayed mixed performance, influenced by weakening German consumer sentiment. Conversely, Wall Street observed gains fuelled by robust GDP data, highlighting an economy surpassing expectations.

Market In Focus For Today – Nasdaq 100​

Nasdaq 100 futures experienced a decline on Friday morning following Intel’s issuance of an outlook that failed to meet Wall Street’s expectations.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 17560.54 | Negative Crossover | Bearish
• MA 20: 17462.35 | Positive Crossover | Bullish
• MA 50: 17066.36 | Positive Crossover | Bullish

Simple:​

• MA 5: 17587.05 | Negative Crossover | Bearish
• MA 20: 17462.37| Positive Crossover | Bullish
• MA 50: 17066.31 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 60.58| Buy Zone| Bullish

Stochastic Oscillator: 2.14| Sell Zone | Negative

Resistance And Support Levels:​

• R1: 17791.70 | R2: 18176.39
• S1: 17443.08| S2: 17058.39

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 17226.69 | Take Profit: 17719.57| Stop Loss: 16902.11.

S&P 500:​

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Weekly FX Analysis – GBP/USD Swings, EUR/USD Challenges, AUD/USD Rebounds, USD/JPY Gains.​

Introduction​

GBP/USD retreated below 1.2750, reversing gains after soft US December core PCE inflation data. Despite the setback, the pair eyes marginal weekly gains. Meanwhile, EUR/USD stabilized near 1.0850 post-US inflation data, maintaining positive territory. AUD/USD recovered to 0.6600 on improved market sentiment ahead of US core PCE data, while USD/JPY aimed for the psychological resistance at 148.00, supported by Tokyo CPI slowing below the BoJ’s 2.0% target.

Markets In Focus Today – GBP/USD​

GBP/USD Retreats Below 1.2750, And Looks To Post Small Weekly Gains.​

GBP/USD lost its traction and retreated below 1.2730 after rising above 1.2750 on soft US December core PCE inflation data in the early American session on Friday. Every week, GBP/USD remains on track to post marginal gains. GBP/USD lost its traction and dropped below 1.2700 in the early trading hours of the European session on Friday. Although the near-term technical outlook is yet to highlight a build-up of bearish momentum, buyers could remain discouraged unless the pair manages to reclaim 1.2700. Upbeat macroeconomic data releases from the US provided a boost to the US Dollar (USD) during the American session on Thursday.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Positive Crossover | Bullish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.27 | Positive Crossover | Bullish

RSI (Relative Strength Index): 51.13 | Buy Zone | Bullish

Stochastic Oscillator : 59.44 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2622 | Take Profit: 1.2799 | Stop Loss: 1.2524

EUR/USD​

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Weekly Index Analysis – Nasdaq’s ride, S&P records, trade insights.​

Introduction:​

Asian stocks are poised for a weekly gain, with attention focused on the upcoming US inflation test. The Shanghai composite has risen by 0.14%. Across the region, the Singapore MSCI is up 0.76% at 279.55. European equities have reached a two-year peak, driven by positive economic indicators and strong earnings reports. On Wall Street, there is an uptrend fueled by robust GDP data. The strong start to the year for the US stock market faces a significant challenge next week, with a busy schedule featuring major tech earnings, the Federal Reserve’s monetary policy meeting, and the eagerly awaited employment report.

Market In Focus For The Next Week – Nasdaq 100​

Nasdaq 100 futures experienced a decline on Friday morning following Intel’s issuance of an outlook that failed to meet Wall Street’s expectations.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 17560.54 | Negative Crossover | Bearish
• MA 20: 17462.35 | Positive Crossover | Bullish
• MA 50: 17066.36 | Positive Crossover | Bullish

Simple:​

• MA 5: 17587.05 | Negative Crossover | Bearish
• MA 20: 17462.37| Positive Crossover | Bullish
• MA 50: 17066.31 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 60.58| Buy Zone| Bullish

Stochastic Oscillator: 2.14| Sell Zone |Negative

Resistance And Support Levels:​

• R1: 17791.70 | R2: 18176.39
• S1: 17443.08| S2: 17058.39

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 17226.69 | Take Profit: 17719.57| Stop Loss: 16902.11.

S&P 500:​

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Weekly FX Analysis – GBP/USD Swings, EUR/USD Challenges, AUD/USD Rebounds, USD/JPY Gains.​

Introduction​

GBP/USD retreated below 1.2750, reversing gains after soft US December core PCE inflation data. Despite the setback, the pair eyes marginal weekly gains. Meanwhile, EUR/USD stabilized near 1.0850 post-US inflation data, maintaining positive territory. AUD/USD recovered to 0.6600 on improved market sentiment ahead of US core PCE data, while USD/JPY aimed for the psychological resistance at 148.00, supported by Tokyo CPI slowing below the BoJ’s 2.0% target.

Markets In Focus Today – GBP/USD​

GBP/USD Retreats Below 1.2750, And Looks To Post Small Weekly Gains.​

GBP/USD lost its traction and retreated below 1.2730 after rising above 1.2750 on soft US December core PCE inflation data in the early American session on Friday. Every week, GBP/USD remains on track to post marginal gains. GBP/USD lost its traction and dropped below 1.2700 in the early trading hours of the European session on Friday. Although the near-term technical outlook is yet to highlight a build-up of bearish momentum, buyers could remain discouraged unless the pair manages to reclaim 1.2700. Upbeat macroeconomic data releases from the US provided a boost to the US Dollar (USD) during the American session on Thursday.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Positive Crossover | Bullish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.27 | Positive Crossover | Bullish

RSI (Relative Strength Index): 51.13 | Buy Zone | Bullish

Stochastic Oscillator : 59.44 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction**: Buy**​

Trade Suggestion: Limit Buy: 1.2622 | Take Profit : 1.2799 | Stop Loss : 1.2524

EUR/USD​

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[Tushar_csfx72]

Daily FX Analysis – GBP/USD Rise, EUR/USD Caution, AUD/USD Geopolitics, USD/JPY Bullish.​

Introduction​

GBP/USD reclaims 1.2700 amid a halted US Dollar recovery, driven by reduced expectations of an early BoE rate cut. Geopolitical tensions in the Middle East pose a potential cap on gains. Meanwhile, EUR/USD faces defensive trading near 1.0850, influenced by heightened US Dollar demand amid geopolitical concerns. AUD/USD consolidates near 0.6600 despite geopolitical risks, with attention on US jobs data. USD/JPY hovers around 147.70, with bullish momentum indicated, while technical analysis suggests potential improvement towards 148.00.

Markets In Focus Today – GBP/USD​

GBP/USD Retakes 1.2700 As US Dollar Stalls Recovery.​

GBP/USD is trading above 1.2700, finding fresh demand amid a stalled US Dollar recovery in early Europe on Monday. The pair cheers reduced bets for an early BoE rate cut ahead of Wednesday’s Fed decision. Middle East geopolitical tensions could cap the upside. GBP/USD lost its traction and dropped below 1.2700 in the early trading hours of the European session on Friday. Although the near-term technical outlook is yet to highlight a build-up of bearish momentum, buyers could remain discouraged unless the pair manages to reclaim 1.2700. Instead, market participants could remain focused on risk perception.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Positive Crossover | Bullish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Positive Crossover | Bullish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.27 | Positive Crossover | Bullish

RSI (Relative Strength Index): 52.39 | Buy Zone | Bullish

Stochastic Oscillator : 56.61 | Buy Zone | Negative

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2686 | Take Profit: 1.2783 | Stop Loss: 1.2629

EUR/USD​

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[Tushar_csfx72]

Daily Index Analysis – Tech, tensions, and banks unsettle global markets.​

Introduction:​

In the global indices landscape, Asian stocks climb with China’s stimulus efforts easing Evergrande concerns. Meanwhile, European markets display a mixed performance amid caution in anticipation of a week filled with significant events. In the U.S., stock futures dip ahead of major tech earnings and the Federal Reserve’s crucial meeting decision, adding uncertainty to Monday’s market outlook.

Market In Focus For Today – Dow Jones​

Dow Jones futures decline as Microsoft takes the lead in a substantial wave of tech earnings.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 38210.94 | Positive Crossover | Bullish
• MA 20: 38142.35 | Positive Crossover | Bullish
• MA 50: 37877.36 | Positive Crossover | Bullish

Simple:​

• MA 5: 38229.06 | Negative Crossover | Bearish
• MA 20: 38142.17| Positive Crossover | Bullish
• MA 50: 37877.07 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 60.86| Buy Zone| Bullish

Stochastic Oscillator: 49.87| Buy Zone | Negative

Resistance And Support Levels:​

• R1: 38383.17 | R2: 38681.85
• S1: 37967.14| S2: 37572.46

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 38041.82 | Take Profit: 38383.17| Stop Loss: 37828.47.

S&P 500:​

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[Tushar_csfx72]

Daily FX Analysis – GBP, EUR, USD, CAD, NZD dynamics.​

Introduction​

GBP/USD remains range-bound above 1.2700 in anticipation of crucial decisions from the Federal Reserve and the Bank of England. The pair struggles for bullish momentum as the cautious market sentiment keeps the US Dollar resilient. Meanwhile, EUR/USD faces resistance at 1.0830, grappling to recover losses amid upward pressure on the greenback. USD/CAD trades softer, influenced by higher oil prices due to geopolitical tensions. NZD/USD attracts buyers above 0.6130, supported by additional stimulus measures in China, though caution prevails ahead of the FOMC meeting.

Markets In Focus Today – GBP/USD​

GBP/USD Oscillates In The Trading Range Above 1.2700 Ahead Of The Fed, BoE Rate Decision.​

The GBP/USD pair remains confined in a narrow trading range above the 1.2700 mark during the early European trading hours on Tuesday. Investors prefer to wait on the sidelines ahead of key events from the Fed and the BoE. GBP/USD continues to move up and down in a narrow band at around 1.2700 early Monday after closing the previous week virtually unchanged. The near-term technical outlook fails to provide a directional clue but the Federal Reserve’s and the Bank of England’s (BoE) policy announcements later this week could help the pair break out of its range. The cautious market mood at the beginning of the week helps the US Dollar (USD) stay resilient against its rivals and makes it difficult for GBP/USD to gather bullish momentum.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Positive Crossover | Bullish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.27 | Positive Crossover | Bullish

RSI (Relative Strength Index): 51.48 | Sell Zone | Bullish

Stochastic Oscillator : 55.56 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 1.2699 | Take Profit: 1.2785 | Stop Loss: 1.2657

EUR/USD​

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[Tushar_csfx72]

Daily Index Analysis – Nasdaq tech clash, FTSE energy surge.​

Introduction:​

In the indices market, Asian equities exhibit a mixed performance, with Chinese shares declining ahead of the Federal Reserve rate decision. Meanwhile, European markets show upward movement, but eurozone GDP data signals Germany’s proximity to recession. Stock futures decline as investors brace for major tech company earnings, emphasizing caution ahead of the Federal Reserve policy meeting.

Market In Focus For Today – Nasdaq 100​

The primary U.S. stock indices trade with a mixed but mostly lower sentiment in Tuesday’s pre-market session, as investors redirect their attention towards recent corporate earnings and the upcoming Federal Reserve policy meeting.

TECHNICAL OVERVIEW:​

Moving Averages:​

Exponential:​

• MA 5: 17656.57 | Positive Crossover | Bullish
• MA 20: 17580.38 | Positive Crossover | Bullish
• MA 50: 17223.07 | Positive Crossover | Bullish

Simple:​

• MA 5: 17639.06 | Positive Crossover | Bullish
• MA 20: 17580.17| Positive Crossover | Bullish
• MA 50: 17223.07 | Positive Crossover | Bullish
  

RSI (Relative Strength Index): 65.86| Buy Zone| Bullish

Stochastic Oscillator: 45.87| Buy Zone | Positive

Resistance And Support Levels:​

• R1: 17791.70 | R2: 18131.71
• S1: 17401.31| S2: 16998.33

Overall Sentiment: Bullish | Market Direction: Buy​

Trade Suggestion: Limit Buy: 17262.79 | Take Profit: 17791.70| Stop Loss: 16947.96.

S&P 500:​

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[Tushar_csfx72]

Daily FX Analysis – GBP/USD, EUR/USD dip, Aussie drops, USD/CAD recovers.​

Introduction​

GBP/USD retreats near 1.2680 ahead of the US Fed’s rate decision amidst market caution amid Middle East tensions. With the Fed expected to maintain rates and the Bank of England’s commitment to restrictive policies, risk aversion boosts the US Dollar. Meanwhile, EUR/USD faces selling pressure, the Australian Dollar weakens on softer inflation and USD/CAD recovers above 1.3400 amid robust US economic data. The global market awaits key central bank decisions and economic indicators.

Markets In Focus Today – GBP/USD​

GBP/USD Edges Lower To Near 1.2680 Ahead Of US Fed Interest Rate Decision.​

GBP/USD declines on market caution due to the Middle East tension. Fed is expected to keep interest rate unchanged at 5.5% in January’s meeting. BoE is expected to maintain a prolonged period of restrictive monetary policy to curb inflation. GBP/USD extends its losses for the second consecutive session on Wednesday, inching lower to near 1.2680 during the Asian session. The risk aversion sentiment drives Investors towards the US Dollar (USD), which undermines the GBP/USD pair. US President Joe Biden has communicated that the United States will respond in a tiered approach to a specific situation following the deadly drone attack on US troops near the Jordan-Syria border.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.26 | Positive Crossover | Bullish

Simple :​

• MA 10 : 1.27 | Negative Crossover | Bearish
• MA 20 : 1.27 | Negative Crossover | Bearish
• MA 50 : 1.27 | Positive Crossover | Bullish

RSI (Relative Strength Index): 48.54 | Buy Zone | Bullish

Stochastic Oscillator : 51.85 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 1.28 R2 : 1.29
• S1 : 1.26 S2 : 1.25

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 1.2684 | Take Profit: 1.2589 | Stop Loss: 1.2749

EUR/USD​

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