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.
|
| |
| DAILY NEWS BRIEF - MARKET OUTLOOK |
|
|
|
|
|
|
| |
| |
| 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. |
| |
|
|
|
|
|
|
|
|
|
|
| |
On Monday U.S. stocks rallied after President Trump said Iran was ready to make a deal following failed weekend peace talks and the U.S. response of imposing a blockade in the Strait of Hormuz.
The S&P 500 advanced 69pts (+1.02%) to 6886, the Nasdaq 100 rose 267pts (+1.07%) to 25383, and the Dow gained 301pts (+0.63%) to 48218.
Technology (XLK), Financials (XLF), and Consumer Discretionary (XLY) led gains, while Utilities (XLU) and Consumer Staples (XLP) were the only sectors to finish lower.
|
| |
|
|
|
|
|
| |
U.S. Economic Developments: |
|
|
| |
|
|
|
| |
|
Existing-home sales fell 3.6% month-over-month in March, larger than the 2% decline forecast and following a revised 2.7% rise in February (previously reported as 1.7%).
|
| |
|
|
|
|
|
|
|
|
| |
Microsoft (MSFT) traded 3.64% higher as Bernstein maintained an "Outperform" rating on the stock and a price target of $641.
Sandisk (SNDK) jumped 11.83% as it will join Nasdaq 100 index, effective April 20, and it was maintained at "Buy" by Citigroup.
Oracle (ORCL) soared 12.69%, topping the S&P 500, after showcasing AI new tools and improvements for utility providers at its Customer Edge Summit.
Fastenal (FAST) declined 6.85% after posting quarterly financial figures in-line with estimates.
ConAgra (CAG) slid 4.41% as it is set to replace President and CEO Sean Connolly with John Brase, who most recently served as president and CEO of J.M. Smucker.
|
| |
|
|
|
|
|
|
|
|
| |
|
At the European close, the major indices in the region finished in negative territory. Germany's Dax fell 61pts (-0.26%) to 23742, France's Cac 40 dropped 23pts (-0.29%) to 8235, and the U.K.'s FTSE 100 slid 17pts (-0.17%) to 10582.
|
| |
|
|
|
|
|
| |
Global Macro, FX & Commodities: |
|
|
| |
|
|
|
| |
Rates & Risk Sentiment:
The VIX fell 0.11pts (-0.57%) to 19.12 while the US 10 year yield declined to 4.293%.
Precious Metals & Crude:
Commodities were mixed on Monday. Gold dropped $5.65 (-0.12%) to $4741.84 and Silver fell $0.41 (-0.54%) to $75.47 while WTI Crude Oil advanced $1.45 (+1.5%) to $98.02.
The Dollar & Majors:
The dollar index dropped 0.27pts (-0.27%) to 98.384.
EUR/USD rose 42pips (+0.36%) to 1.1761.
GBP/USD advanced 45pips (+0.33%) to 1.3503.
USD/JPY gained 10pips (+0.06%) to 159.39.
USD/CHF slipped 55pips (-0.7%) to 0.7836.
AUD/USD increased 37pips (+0.52%) to 0.7097.
USD/CAD retreated 48pips (-0.35%) to 1.379. Building permits in Canada tumbled 8.4% on month in February, against an expected increase of 1.5%.
Digital Assets:
Cryptocurrencies saw positive trading, with Bitcoin climbing $1812 (+2.54%) to $73169 while Ethereum rose $37 (+1.7%) to $2251.
|
| |
|
|
|
|
|
|
| |
| |
 |
|
Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out. |
|
| |
|
|
|
|
|
|
| |
| Dow Jones (CME) (M6) Intraday: 48600 in sight. |
| |
| Pivot: |
| 48190 |
| |
| Our preference: |
| Long positions above 48190 with targets at 48600 & 48800 in extension. |
| |
| Alternative scenario: |
| Below 48190 look for further downside with 48040 & 47900 as targets. |
| |
| Comment: |
| The RSI advocates for further upside. |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| S&P 500 (CME) (M6) Intraday: target 6945. |
| |
| Pivot: |
| 6890 |
| |
| Our preference: |
| Long positions above 6890 with targets at 6945 & 6970 in extension. |
| |
| Alternative scenario: |
| Below 6890 look for further downside with 6860 & 6820 as targets. |
| |
| Comment: |
| The RSI advocates for further advance. |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| EUR/USD Intraday: the upside prevails. |
| |
| Pivot: |
| 1.1715 |
| |
| Our preference: |
| Long positions above 1.1715 with targets at 1.1795 & 1.1820 in extension. |
| |
| Alternative scenario: |
| Below 1.1715 look for further downside with 1.1690 & 1.1660 as targets. |
| |
| Comment: |
| Technically the RSI is above its neutrality area at 50. |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| GBP/USD Intraday: 1.3545 expected. |
| |
| Pivot: |
| 1.3455 |
| |
| Our preference: |
| Long positions above 1.3455 with targets at 1.3545 & 1.3575 in extension. |
| |
| Alternative scenario: |
| Below 1.3455 look for further downside with 1.3420 & 1.3380 as targets. |
| |
| Comment: |
| The break above 1.3455 is a positive signal that has opened a path to 1.3545. |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| USD/JPY Intraday: watch 159.00. |
| |
| Pivot: |
| 159.75 |
| |
| Our preference: |
| Short positions below 159.75 with targets at 159.00 & 158.60 in extension. |
| |
| Alternative scenario: |
| Above 159.75 look for further upside with 160.00 & 160.25 as targets. |
| |
| Comment: |
| A break below 159.00 would trigger a drop towards 158.60. |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| Gold Intraday: the upside prevails. |
| |
| Pivot: |
| 4720 |
| |
| Our preference: |
| Long positions above 4720 with targets at 4795 & 4835 in extension. |
| |
| Alternative scenario: |
| Below 4720 look for further downside with 4700 & 4680 as targets. |
| |
| Comment: |
| The RSI is bullish and calls for further upside. |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| Silver Intraday: further advance. |
| |
| Pivot: |
| 74.50 |
| |
| Our preference: |
| Long positions above 74.50 with targets at 76.80 & 77.70 in extension. |
| |
| Alternative scenario: |
| Below 74.50 look for further downside with 73.60 & 72.50 as targets. |
| |
| Comment: |
| The RSI shows upside momentum. |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| Crude Oil (WTI) (K6) Intraday: aim @ 91.10. |
| |
| Pivot: |
| 101.50 |
| |
| Our preference: |
| Short positions below 101.50 with targets at 94.00 & 91.10 in extension. |
| |
| Alternative scenario: |
| Above 101.50 look for further upside with 103.60 & 105.60 as targets. |
| |
| Comment: |
| The RSI is bearish and calls for further downside. |
| |
 |
| |
|
|
| |
|
|
|
|
|
|
| |
| |
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
|
| |
|
|
|
|
|
