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 Friday the major indexes finished higher, with all posting new record highs. The S&P 500 advanced 16pts (+0.22%) to 7580 and the Nasdaq 100 rose 109pts (+0.36%) to 30333 while the Dow climbed 363pts (+0.72%) to 51032.
Most sectors were in the red, with Consumer Staples (XLP), Energy (XLE), and Consumer Discretionary (XLY) underperforming the most. Meanwhile, Technology (XLK) and Financials (XLF) were the only sectors to finish in the green.
|
| |
|
|
|
|
|
| |
U.S. Economic Developments: |
|
|
| |
|
|
|
| |
|
The Chicago PMI jumped to 62.7 in May, well above the 49.5 that was expected and up from April’s 49.2.
|
| |
|
|
|
|
|
|
|
|
| |
Dell Technologies (DELL) jumped 32.76% after reporting record Q1 earnings driven by robust AI server demand and raising full-year revenue and profit guidance.
NetApp (NTAP) gained 22.36% after issuing strong Q1 and full-year guidance and posting Q4 results that beat estimates.
Gap (GAP) fell 15.40% after trimming its full-year sales forecast.
Costco Wholesale (COST) slipped 3.91% despite quarterly revenue and earnings that topped estimates.
Okta (OKTA) climbed 30.14% after reporting quarterly revenue above expectations.
|
| |
|
|
|
|
|
|
|
|
| |
At the European close, the major indices in the region closed in mixed territory.
Germany's Dax rose 12pts (+0.05%) to 25104 while France's Cac 40 fell 5pts (-0.07%) to 8183 and the U.K.'s FTSE 100 declined 16pts (-0.16%) to 10409.
|
| |
|
|
|
|
|
| |
Global Macro, FX & Commodities: |
|
|
| |
|
|
|
| |
Rates & Risk Sentiment:
The VIX fell 0.42pts (-2.67%) to 15.32 and the US 10 year yield dropped to 4.437%.
Precious Metals & Crude:
In the commodities market, Gold rose 52.58 dollars (+1.17%) to 4544.51 and Silver fell 0.08 dollars (-0.1%) to 75.56. Meanwhile, WTI Crude Oil slipped 1.1 dollars (-1.24%) to 87.8.
The Dollar & Majors:
The dollar index fell 0.11pts (-0.11%) to 98.913.
EUR/USD rose 9pips (+0.08%) to 1.166.
GBP/USD advanced 15pips (+0.11%) to 1.3458.
USD/JPY gained 2pips (+0.01%) to 159.25.
USD/CHF slipped 30pips (-0.38%) to 0.7808.
AUD/USD increased 19pips (+0.27%) to 0.7182.
USD/CAD climbed 12pips (+0.09%) to 1.3792. Canada's GDP fell 0.1% in March, missing expectations for flat growth. On an annualized basis, GDP declined 0.1% in the first quarter.
Digital Assets:
Bitcoin rose 137 dollars (+0.19%) to 73610 and Ethereum gained 8 dollars (+0.41%) to 2019.
|
| |
|
|
|
|
|
|
| |
| |
 |
|
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: bullish bias above 50960. |
| |
| Pivot: |
| 50960 |
| |
| Our preference: |
| Long positions above 50960 with targets at 51140 & 51220 in extension. |
| |
| Alternative scenario: |
| Below 50960 look for further downside with 50860 & 50720 as targets. |
| |
| Comment: |
| The next resistances are at 51140 and then at 51220. |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| S&P 500 (CME) (M6) intraday: 7610 in sight. |
| |
| Pivot: |
| 7575 |
| |
| Our preference: |
| Long positions above 7575 with targets at 7610 & 7630 in extension. |
| |
| Alternative scenario: |
| Below 7575 look for further downside with 7555 & 7535 as targets. |
| |
| Comment: |
| The RSI is around its neutrality area at 50% |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| EUR/USD intraday : as long as 1.1640 is support look for 1.1705 |
| |
|
| Our pivot point is at 1.1640. |
| |
| Our preference: |
| As long as 1.1640 is support look for 1.1705 |
| |
| Alternative scenario: |
| Below 1.1640, expect 1.1617 and 1.1603. |
| |
| Comment: |
| The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is below its 20 period moving average (1.1660) but above its 50 period moving average (1.1651). |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| GBP/USD intraday : as long as 1.3425 is support look for 1.3525 |
| |
|
| Our pivot point is at 1.3425. |
| |
| Our preference: |
| As long as 1.3425 is support look for 1.3525 |
| |
| Alternative scenario: |
| Below 1.3425, expect 1.3389 and 1.3368. |
| |
| Comment: |
| The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is below its 20 period moving average (1.3454) but above its 50 period moving average (1.3443). |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| USD/JPY intraday : our next up target stands at 159.65 |
| |
|
| Our pivot point is at 159.10. |
| |
| Our preference: |
| Our next up target stands at 159.65 |
| |
| Alternative scenario: |
| Below 159.10, expect 158.91 and 158.79. |
| |
| Comment: |
| The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 159.26 and 159.27). |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| Gold intraday: intraday support around 4535. |
| |
| Pivot: |
| 4535 |
| |
| Our preference: |
| Long positions above 4535 with targets at 4605 & 4645 in extension. |
| |
| Alternative scenario: |
| Below 4535 look for further downside with 4510 & 4490 as targets. |
| |
| Comment: |
| The next resistances are at 4605 and then at 4645. |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| Silver intraday: towards 76.50. |
| |
| Pivot: |
| 74.50 |
| |
| Our preference: |
| Long positions above 74.50 with targets at 76.50 & 77.50 in extension. |
| |
| Alternative scenario: |
| Below 74.50 look for further downside with 73.60 & 72.65 as targets. |
| |
| Comment: |
| The next resistances are at 76.50 and then at 77.50. |
| |
 |
| |
|
|
| |
| |
| |
|
|
|
|
|
|
| |
| Crude Oil (WTI) (N6) intraday: key resistance at 88.45. |
| |
| Pivot: |
| 88.45 |
| |
| Our preference: |
| Short positions below 88.45 with targets at 85.85 & 83.45 in extension. |
| |
| Alternative scenario: |
| Above 88.45 look for further upside with 89.60 & 90.80 as targets. |
| |
| Comment: |
| The index currently faces a challenging resistance area at 88.45. |
| |
 |
| |
|
|
| |
|
|
|
|
|
|
| |
| |
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
|
| |
|
|
|
|
|
