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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On Friday, U.S. stocks indexes were closed for the Independence Day holiday, with normal trading resuming on Monday, July 6.
Thursday’s session ended the shortened trading week with mixed results for U.S. stocks following the June jobs report. The S&P 500 was relatively flat at 7483.24 while the Nasdaq 100 fell 479.92pts (-1.61%) to 29329.213 and the Dow rose 594.83pts (+1.14%) to 52900.07. Most sectors were higher, with Health Care (XLV), Utilities (XLU), and Consumer Staples (XLP) outperforming. Meanwhile, Technology (XLK), Consumer Discretionary (XLY), and Communication Services (XLC) were the only sectors to finish in the red.
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At the European close, the major indices in the region finished in positive territory. Germany's Dax gained 198pts (+0.78%) to 25779, France's Cac 40 rose 33pts (+0.39%) to 8508, and the U.K.'s FTSE 100 increased 26pts (+0.25%) to 10679.
In France, industrial production declined 0.1% month-on-month in May, versus an expected 0.4% drop, after rising 0.3% in April (revised up from 0.1%).
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Global Macro, FX & Commodities: |
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Precious Metals & Crude:
In the commodities market, Gold rose 52.1 dollars (+1.26%) to 4174.9 and Silver gained 1.39 dollars (+2.28%) to 62.4. WTI Crude Oil advanced 0.09 dollars (+0.13%) to 68.78.
The Dollar & Majors:
The dollar index was flat at 100.848.
EUR/USD added 8pips (+0.07%) to 1.1438.
GBP/USD gained 10pips (+0.07%) to 1.3356.
USD/JPY increased 25pips (+0.16%) to 161.34.
USD/CHF slipped 2pip (-0.02%) to 0.8032.
AUD/USD rose 16pips (+0.23%) to 0.6937.
USD/CAD advanced 14pips (+0.1%) to 1.4195.
Digital Assets:
Finally, in the cryptocurrencies market, Bitcoin rose 620 dollars (+1.01%) to 62154 and Ethereum added 33 dollars (+1.94%) to 1737.
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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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| Dow Jones (CME) (U6) intraday: the bias remains bullish. |
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| Pivot: |
| 53080 |
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| Our preference: |
| Long positions above 53080 with targets at 53400 & 53490 in extension. |
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| Alternative scenario: |
| Below 53080 look for further downside with 52760 & 52580 as targets. |
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| Comment: |
| The next resistances are at 53400 and then at 53490. MARKET CLOSED |
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| S&P 500 (CME) (U6) intraday: intraday support around 7540. |
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| Pivot: |
| 7540 |
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| Our preference: |
| Long positions above 7540 with targets at 7577 & 7593 in extension. |
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| Alternative scenario: |
| Below 7540 look for further downside with 7515 & 7480 as targets. |
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| Comment: |
| The next resistances are at 7577 and then at 7593. MARKET CLOSED |
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| EUR/USD intraday : the downside prevails as long as 1.1457 is resistance |
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| Our pivot point is at 1.1457. |
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| Our preference: |
| The downside prevails as long as 1.1457 is resistance |
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| Alternative scenario: |
| Above 1.1457, look for 1.1480 and 1.1494. |
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| Comment: |
| The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.1442 and 1.1441). |
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| GBP/USD intraday : the downside prevails as long as 1.3378 is resistance |
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| Our pivot point is at 1.3378. |
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| Our preference: |
| The downside prevails as long as 1.3378 is resistance |
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| Alternative scenario: |
| Above 1.3378, look for 1.3409 and 1.3427. |
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| Comment: |
| The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3355 and 1.3356). |
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| USD/JPY intraday : the upside prevails as long as 161.22 is support |
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| Our pivot point is at 161.22. |
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| Our preference: |
| The upside prevails as long as 161.22 is support |
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| Alternative scenario: |
| Below 161.22, expect 161.08 and 160.99. |
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| Comment: |
| The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 161.28 and 161.18). |
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| Gold intraday: watch 4210. |
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| Pivot: |
| 4130 |
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| Our preference: |
| Long positions above 4130 with targets at 4210 & 4255 in extension. |
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| Alternative scenario: |
| Below 4130 look for further downside with 4075 & 4027 as targets. |
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| Comment: |
| The next resistances are at 4210 and then at 4255. |
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| Silver intraday: intraday support around 61.90. |
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| Pivot: |
| 61.90 |
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| Our preference: |
| Long positions above 61.90 with targets at 63.40 & 64.30 in extension. |
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| Alternative scenario: |
| Below 61.90 look for further downside with 60.95 & 60.30 as targets. |
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| Comment: |
| The RSI is above its neutrality area at 50%. |
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| Crude Oil (WTI) (Q6) intraday: further advance. |
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| Pivot: |
| 68.10 |
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| Our preference: |
| Long positions above 68.10 with targets at 69.50 & 70.15 in extension. |
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| Alternative scenario: |
| Below 68.10 look for further downside with 67.50 & 67.10 as targets. |
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| Comment: |
| The RSI is above its neutrality area at 50%. |
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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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