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 Thursday, major U.S. stock indexes narrowed gains at close:
Dow Jones +292 points (+0.6%) to 49,442
S&P 500 +17 points (+0.26%) to 6,944
Nasdaq 100 +81 points (+0.32%) to 25,547
Financial stocks rebounded following better-than-expected quarterly results:
BlackRock (BLK) +5.93%
Morgan Stanley (MS) +5.78%
Goldman Sachs (GS) +4.63%
Taiwan Semiconductor Manufacturing (TSM) +4.44%, as the Taiwan-based chip-maker gave an upbeat full-year growth guidance.
Other chip-maker stocks also outperformed the market:
Nvidia (NVDA) +2.13%
Advanced Micro Devices (AMD) +1.93% (up for four sessions)
Micron (MU) +0.98%
Broadcom (AVGO) +0.92%
Eli Lilly (LLY) -3.76%. The U.S. Food and Drug Administration has delayed a review decision on drug-maker’s new weight-loss medication.
Boston Scientific (BSX) announced its acquisition of thrombectomy firm Penumbra (PEN) for 14.5 billion dollars:
Boston Scientific (BSX) -3.96%
Penumbra (PEN) +11.82%
The U.S. 10-year Treasury yield -3.3 basis point to 4.171%.
European stock markets closed mixed:
DAX 40 +0.26%
CAC 40 -0.21%
FTSE 100 +0.54%
Gold price eased from its all-time high, trading at 4,616 dollars an ounce.
U.S. WTI crude futures -2.94 dollars (-4.74%) to 59.08 dollars a barrel, halting a five-session winning streak.
Some comments by U.S. President Donald Trump on Iran helped to alleviate concerns of a potential U.S. military action against the oil-producing country that is seeing wide-spreading protests.
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The U.S. dollar rose against other major currencies, with the dollar index climbing to 99.36.
Regarding U.S. economic data, the Philadelphia Fed manufacturing index rose to 12.6 in January (vs -4.0 expected, -8.8 in December).
The New York Empire State manufacturing index rose to 7.7 in January (vs 1.0 expected, -3.7 in December).
EUR/USD -35 pips to 1.1607. The Eurozone’s industrial production +0.7% month on month in November, higher than expected.
USD/JPY +20 pips to 158.63.
GBP/USD -58 pips to 1.3380. The U.K.’s gross domestic product +0.3% month on month in November (vs -0.1% in October).
USD/CHF +33 pips to 0.8031.
AUD/USD +17 pips to 0.6697.
Bitcoin retreated over 1% to levels below 96,000 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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| Crude Oil (WTI) (H6) Intraday: the downside prevails. |
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| Pivot: |
| 59.80 |
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| Our preference: |
| Short positions below 59.80 with targets at 58.30 & 57.50 in extension. |
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| Alternative scenario: |
| Above 59.80 look for further upside with 60.50 & 61.20 as targets. |
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| Comment: |
| Technically the RSI is below its neutrality area at 50. |
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| USD/JPY Intraday: bullish bias above 158.30. |
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| Pivot: |
| 158.30 |
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| Our preference: |
| Long positions above 158.30 with targets at 158.85 & 159.10 in extension. |
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| Alternative scenario: |
| Below 158.30 look for further downside with 158.10 & 157.90 as targets. |
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| Comment: |
| The RSI is mixed to bullish. |
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| EUR/USD Intraday: key resistance at 1.1625. |
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| Pivot: |
| 1.1625 |
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| Our preference: |
| Short positions below 1.1625 with targets at 1.1590 & 1.1575 in extension. |
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| Alternative scenario: |
| Above 1.1625 look for further upside with 1.1640 & 1.1660 as targets. |
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| Comment: |
| The upward potential is likely to be limited by the resistance at 1.1625. |
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| S&P 500 (CME) (H6) Intraday: key resistance at 7015. |
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| Pivot: |
| 7015 |
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| Our preference: |
| Short positions below 7015 with targets at 6974 & 6948 in extension. |
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| Alternative scenario: |
| Above 7015 look for further upside with 7036 & 7070 as targets. |
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| Comment: |
| The index currently faces a challenging resistance area at 7015. |
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| GBP/USD Intraday: key resistance at 1.3400. |
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| Pivot: |
| 1.3400 |
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| Our preference: |
| Short positions below 1.3400 with targets at 1.3360 & 1.3340 in extension. |
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| Alternative scenario: |
| Above 1.3400 look for further upside with 1.3420 & 1.3440 as targets. |
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| Comment: |
| The upward potential is likely to be limited by the resistance at 1.3400. |
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| Gold Intraday: 4568 expected. |
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| Pivot: |
| 4624 |
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| Our preference: |
| Short positions below 4624 with targets at 4568 & 4540 in extension. |
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| Alternative scenario: |
| Above 4624 look for further upside with 4642 & 4660 as targets. |
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| Comment: |
| As long as 4624 is resistance, expect a return to 4568. |
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| Silver Intraday: choppy. |
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| Pivot: |
| 92.00 |
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| Our preference: |
| Short positions below 92.00 with targets at 87.80 & 86.30 in extension. |
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| Alternative scenario: |
| Above 92.00 look for further upside with 93.60 & 95.55 as targets. |
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| Comment: |
| The RSI advocates for further downside. |
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| Dow Jones (CME) (H6) Intraday: aim @ 49900. |
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| Pivot: |
| 49580 |
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| Our preference: |
| Long positions above 49580 with targets at 49810 & 49900 in extension. |
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| Alternative scenario: |
| Below 49580 look for further downside with 49460 & 49300 as targets. |
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| Comment: |
| The RSI has just landed on its neutrality area at 50% and is turning up. |
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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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