XAUUSD continues its downward structure by breaking below the previous low. It broke and closed below the 2000 key psychology level. During an intraday session, it might rebound to test the 2000-2010 level before falling again. However, if XAU falls further, 1978 and 1960 are the downside targets in order.
Home Depot, Inc. (symbol ‘HD’) share price had a spectacular steady growth in the latest quarter managing to rise by around 25%. The company’s earnings report for the fiscal quarter ending January 2024 is expected to be released on Tuesday 20th of February, before market open. The consensus EPS is $2.73 against $3.30 in the same quarter last year. ‘The company...
Prices rebounded from the 1.9250 support zone, forming an ascending triangle pattern. A breakout above 1.9420 resistance could signal further upside potential, pushing prices towards the 1.9720 resistance zone last seen in September. Conversely, a breakdown below 1.9250 support may lead to further declines, with 1.8950 as the next support level. While EMAs...
ISM Service Index rebounded more than expected to 53.4 (cons. 52, prev. 50.4) after a drop in Dec. ISM Services Prices Paid also jumped to 64 (cons. 56.7, prev. 56.7). The DXY went up, as all economic data since last Friday's NFP has been good and will remain strong, although further upside is limited.
Oil prices experience volatility amid conflicting reports on Middle Eastern ceasefire negotiations, initially driving prices higher with hints of a potential ceasefire. Subsequent reports indicating ongoing negotiations dampen the initial optimism, leading to fluctuations in oil prices. Despite this uncertainty, supply constraints from OPEC's affirmed...
Bitcoin came under a bit of pressure after rallying significantly for a while. The risk-on sentiment was generally affected as the Fed lowered the chances of an interest rate cut in March. The first cryptocurrency is currently trading at $42100, the next level of support could come in at $41340 ahead of $40150, while on the upside, the first line of resistance...
Oil prices declined, giving up part of their recent gains. The US Energy Information Administration reported a buildup of 1.234 million barrels in inventories. The US oil is currently trading at $76.46, the next level of support could come in at $75.20 ahead of $73.85, while on the upside, the first line of resistance could come in at $78.10 ahead of $79.05.
Shares in Alibaba Group Holding Limited (symbol ‘BABA’) incurred losses in the fourth quarter of around 11%. The company’s earnings report for the fiscal quarter ending December 2023 is set to be released on Wednesday 7th of February, before market open. The consensus EPS is $2.40 compared to the same quarter of last year at $2.44. ‘As of 30/09/2023 the price...
Shares in McDonald's Corporation (symbol ‘MCD’) gained around 14% in the last quarter of 2023 and managed to cover the losses incurred in the previous quarter. The company’s earnings report for the fiscal quarter ending December 2023 is set to be released on Monday 5th of February, before market open. The consensus EPS for Q4 is $2.81 compared to Q4 2022’s $2.59....
The Fed held interest rates steady and indicated that a March rate cut is unlikely, boosting the DXY’s rally. However, the upside could be limited as labour market conditions soften. Recent labor market data in the US showed a slowdown in labor cost growth, indicating easing inflationary pressures and potentially opening the door for future interest rate cuts by...
Digesting the U.S. Q4 GDP data and the ECB monetary policy meeting, the pound has remained stable at the $1.2700 range. The upcoming monetary policy meeting of the Bank of England (BoE) is currently a major point of interest for the markets. The BoE is expected to keep interest rates unchanged at 5.25% for the fourth consecutive time, and the market is...
The ECB froze its benchmark interest rate at 4.50% for the third consecutive time at its January monetary policy meeting. In its monetary policy statement, the ECB has evaluated that the current financial conditions exert pressure on demand and simultaneously restrain inflation. Lagarde stressed that it is still premature to cut rates and warned that...
Market prices confront a critical barrier at 103.50, marked by the Fibonacci confluence and the 200-day SMA. Should prices persist below the 103.50 resistance zone, a potential reversal towards the support around 101.00 might occur. A successful breakthrough above the 103.50 resistance zone, however, could fuel an extended uptrend, targeting the 104.50...
Natural gas is moving in a confirmed downtrend, being pushed by a lack of demand and short selling. The level of $2 is considered a fair price according to the STEO forecast from the Energy Administration of the United States, so this level might be used as a target.
After having broken the neckline of a cup-and-handle formation, the next possible dynamics would be another consolidation or a short-term trading range, which might be broken to the upside as shown in the chart below.
The dynamics of EURUSD now is influenced by the short-term strength of the US dollar, and probably that puts EURUSD in the context of a declining trend. The price moves in the shape of a declining wedge, and for the moment of writing this report, is positioned at the lower side of this formation, which might lead to a retest of the upper trendline with a possible...
Shares of Advanced Micro Devices, Inc (symbol ‘AMD’) rose by around 10% in the third quarter of the year. The company’s earnings report for the fiscal quarter ending December 2023 is expected to be released on Tuesday 30th of January, after market close. The consensus EPS is $0.58, against $0.54 of the same quarter last year. ‘ The company reached a new all...
Shares of Alphabet Inc. (symbol ‘GOOGL’) rose by around 4% in the last quarter of the year. The company’s earnings report for the fiscal quarter ending December 2023 is expected to be released on Tuesday 30th of January, after market close. The consensus EPS is $1.60, against $1.05 of the same quarter last year. ‘ The company is involved in the AI frenzy with...