Here are today's directional views from the global research desks of Ventura Prime FX! These are starting points for your own research to identify opportunities that make sense for you.
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| DAILY NEWS BRIEF - MARKET OUTLOOK |
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| Here are today's directional views from the global research desks of Ventura Prime FX! These are starting points for your own research to identify opportunities that make sense for you. |
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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, both the S&P 500 (+42 points or 0.62% to 6944) and the Dow Jones Industrial Average (+484 points or 0.99% to 49,462) scored record-high closing levels.
And the Nasdaq 100 +238 points (+0.94%) to 25,639.
Memory and storage tech stocks advanced as the Consumer Electronics Show in Las Vegas started:
Sandisk (SNDK) +27.56%
Western Digital (WDC) +16.77%
Micron Technology (MU) +10.02%
Also,
Microchip Technology (MCHP) +11.65%
Texas Instruments (TXN) +8.43%
Intel (INTC) +1.70%
On the other hand,
Advanced Micro Devices (AMD) -3.04%
Nvidia (NVDA) -0.47%
The U.S. 10-year Treasury yield +1.4 basis points to 4.169%.
European stocks remained firm:
DAX 40 + 23 points (+0.09%) to 24,892
CAC 40 +25 points (+0.32%) to 8,237
FTSE 100 +118 points (+1.18%) to 10,122
Gold price +46 dollars (+1.03%) to 4,495 dollars an ounce.
U.S. WTI crude futures -1.19 dollar (-2.04%) to 57.13 dollars a barrel.
Reuters reported that governments of the U.S. and Venezuela are discussing exporting Venezuelan crude to refiners in the U.S.
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The U.S. dollar strengthened, with the dollar index rising to 98.60.
EUR/USD -33 pips to 1.1687.
Germany’s inflation rate slowed to 1.8% year on year in December.
France’s inflation rate dipped to 0.8% year on year in December.
USD/JPY +27 pips to 156.65.
GBP/USD -40 pips to 1.3500, AUD/USD +25 pips to 0.6738.
USD/CHF +42 pips to 0.7955, USD/CAD +42 pips to 1.3811.
Bitcoin -583 dollars to 93,487 dollars.
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Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out. |
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| Gold Intraday: the upside prevails. |
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| Pivot: |
| 4454 |
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| Our preference: |
| Long positions above 4454 with targets at 4513 & 4544 in extension. |
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| Alternative scenario: |
| Below 4454 look for further downside with 4426 & 4396 as targets. |
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| Comment: |
| The next resistances are at 4513 and then at 4544. |
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| USD/JPY Intraday: the bias remains bullish. |
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| Pivot: |
| 156.40 |
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| Our preference: |
| Long positions above 156.40 with targets at 156.80 & 157.00 in extension. |
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| Alternative scenario: |
| Below 156.40 look for further downside with 156.20 & 156.00 as targets. |
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| Comment: |
| The RSI calls for a bounce. |
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| EUR/USD Intraday: the downside prevails. |
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| Pivot: |
| 1.1710 |
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| Our preference: |
| Short positions below 1.1710 with targets at 1.1675 & 1.1660 in extension. |
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| Alternative scenario: |
| Above 1.1710 look for further upside with 1.1725 & 1.1740 as targets. |
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| Comment: |
| The RSI is bearish and calls for further downside. |
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| Dow Jones (CME) (H6) Intraday: the bias remains bullish. |
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| Pivot: |
| 49450 |
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| Our preference: |
| Long positions above 49450 with targets at 50000 & 50200 in extension. |
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| Alternative scenario: |
| Below 49450 look for further downside with 49100 & 48900 as targets. |
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| Comment: |
| Investors have to remain cautious since these levels may trigger profit taking. |
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| S&P 500 (CME) (H6) Intraday: further advance. |
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| Pivot: |
| 6970 |
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| Our preference: |
| Long positions above 6970 with targets at 6995 & 7015 in extension. |
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| Alternative scenario: |
| Below 6970 look for further downside with 6958 & 6938 as targets. |
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| Comment: |
| The RSI shows upside momentum. |
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| GBP/USD Intraday: watch 1.3450. |
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| Pivot: |
| 1.3530 |
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| Our preference: |
| Short positions below 1.3530 with targets at 1.3480 & 1.3450 in extension. |
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| Alternative scenario: |
| Above 1.3530 look for further upside with 1.3560 & 1.3590 as targets. |
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| Comment: |
| The RSI advocates for further decline. |
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| Silver Intraday: expect 87.10. |
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| Pivot: |
| 79.80 |
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| Our preference: |
| Long positions above 79.80 with targets at 85.30 & 87.10 in extension. |
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| Alternative scenario: |
| Below 79.80 look for further downside with 77.70 & 76.00 as targets. |
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| Comment: |
| The RSI shows upside momentum. |
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| Crude Oil (WTI) (G6) Intraday: watch 56.30. |
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| Pivot: |
| 57.75 |
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| Our preference: |
| Short positions below 57.75 with targets at 56.30 & 56.00 in extension. |
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| Alternative scenario: |
| Above 57.75 look for further upside with 58.30 & 58.85 as targets. |
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| Comment: |
| The RSI has broken down its 30 level. |
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TRADING FOREIGN EXCHANGE ON MARGIN CARRIES A HIGH LEVEL OF RISK AND MAY NOT BE SUITABLE FOR ALL INVESTORS.
THE POSSIBILITY EXISTS THAT YOU COULD SUSTAIN A LOSS OF SOME OR ALL OF YOUR INITIAL INVESTMENT AND THEREFORE YOU SHOULD NOT INVEST MONEY THAT YOU CANNOT AFFORD TO LOSE.
THE HIGH DEGREE OF LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU. BEFORE DECIDING TO TRADE FOREIGN EXCHANGE OR CFD’S YOU SHOULD CAREFULLY CONSIDER YOUR INVESTMENT OBJECTIVES, LEVEL OF EXPERIENCE, AND RISK APPETITE.
YOU SHOULD BE AWARE OF ALL THE RISKS ASSOCIATED WITH FOREIGN EXCHANGE AND OTHER CFD TRADING, AND SEEK ADVICE FROM AN INDEPENDENT FINANCIAL ADVISOR IF YOU HAVE ANY DOUBTS. VPFX RECOMMENDS READING THE RISK DISCLOSURE SECTION OF THE PROSPECTUS FOR ANY FINANCIAL PRODUCT MENTIONED.
VPFX is the trading name for Ventura Prime FX Limited with registration number LL16224 registered in Labuan F.T., Malaysia.
Ventura Prime FX Limited is authorised and regulated by the Labuan Financial Services Authority (LFSA). Registered Address:Kensington Gardens, No U1317, Lot 7616, Jalan Jumidar Buyong, 87000 Labuan Federal Territory, Malaysia
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