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, the U.S. stock market ended lower as chip stocks fell. The S&P 500 dropped for a fifth consecutive day.
The S&P 500 slipped 3.47pts (-0.05%) to 7354.02 and the Nasdaq 100 fell 322.084pts (-1.09%) to 29118.238. The Dow dropped 44.51pts (-0.09%) to 51876.11.
On the sector front, the outperforming sectors were Health Care (XLV), Real Estate (XLRE), and Consumer Staples (XLP) while Technology (XLK), Industrials (XLI), and Materials (XLB) underperformed the most.
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U.S. Economic Developments: |
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There were no major economic news announced on Friday.
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ON Semiconductor (ON) plunged 23.66% after agreeing to acquire Synaptics (SYNA) in an all-stock deal at a 1.350 exchange ratio. The transaction is valued at about $7 billion. Synaptics' stock fell 3.68%.
Micron Technology (MU) dropped 6.69% as selling spread across the semiconductor sector. SanDisk (SNDK) slid 10.46%, Western Digital (WDC) fell 13.17%, Intel (INTC) declined 3.42%, and Marvell Technology (MRVL) dropped 5.15%.
American Tower (AMT) rose 4.07% following an upgrade to “Outperform” from “Sector-Perform” at RBC.
Microsoft (MSFT) gained 5.71%, and Palantir (PLTR) rose 5.28% as both stocks had traded at 52-week lows in the prior session.
Broadcom (AVGO) fell 3.67% after OpenAI unveiled Jalapeño, its first custom AI chip, built by Broadcom for large-language-model inference.
Eli Lilly (LLY) jumped 7.13% after European regulators issued a positive opinion recommending Jaypirca for chronic lymphocytic leukemia across all lines of therapy.
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At the European close, the major indices in the region finished in negative territory. Germany's Dax dropped 323pts (-1.29%) to 24671 and France's Cac 40 fell 46pts (-0.55%) to 8384 while the U.K.'s FTSE 100 slid 21pts (-0.21%) to 10508.
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Global Macro, FX & Commodities: |
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Rates & Risk Sentiment:
The VIX dropped 0.48pts (-2.54%) to 18.41 and the US 10 year yield declined to 4.378%.
Precious Metals & Crude:
In the commodities market, Gold rose 42.18 dollars (+1.05%) to 4068.18 and Silver gained 0.67 dollars (+1.15%) to 58.53. WTI Crude Oil slipped 2.47 dollars (-3.43%) to 69.45.
The Dollar & Majors:
The dollar index fell 0.11pts (-0.11%) to 101.322.
EUR/USD rose 19pips (+0.17%) to 1.1388.
GBP/USD advanced 8pips (+0.06%) to 1.3199.
USD/JPY fell 5pips (-0.03%) to 161.73.
USD/CHF slipped 6pips (-0.07%) to 0.8092.
AUD/USD dropped 12pips (-0.17%) to 0.6896.
USD/CAD retreated 16pips (-0.11%) to 1.4182.
Digital Assets:
Finally, in the cryptocurrencies market, Bitcoin rose 219 dollars (+0.37%) to 59585 and Ethereum gained 13 dollars (+0.88%) to 1571.
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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: choppy. |
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| Pivot: |
| 52620 |
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| Our preference: |
| Short positions below 52620 with targets at 51930 & 51720 in extension. |
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| Alternative scenario: |
| Above 52620 look for further upside with 53030 & 53440 as targets. |
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| Comment: |
| A break below 51930 would trigger a drop towards 51720. |
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| S&P 500 (CME) (U6) intraday: choppy. |
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| Pivot: |
| 7455 |
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| Our preference: |
| Short positions below 7455 with targets at 7365 & 7330 in extension. |
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| Alternative scenario: |
| Above 7455 look for further upside with 7490 & 7525 as targets. |
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| Comment: |
| The RSI is around its neutrality area at 50% |
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| EUR/USD intraday : the downside prevails as long as 1.1410 is resistance |
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| Our pivot point is at 1.1410. |
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| Our preference: |
| The downside prevails as long as 1.1410 is resistance |
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| Alternative scenario: |
| Above 1.1410, look for 1.1433 and 1.1447. |
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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 1.1399 and 1.1386). |
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| GBP/USD intraday : the downside prevails as long as 1.3231 is resistance |
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| Our pivot point is at 1.3231. |
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| Our preference: |
| The downside prevails as long as 1.3231 is resistance |
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| Alternative scenario: |
| Above 1.3231, look for 1.3266 and 1.3286. |
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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 1.3209 and 1.3203). |
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| USD/JPY intraday : the upside prevails as long as 161.60 is support |
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| Our pivot point is at 161.60. |
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| Our preference: |
| The upside prevails as long as 161.60 is support |
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| Alternative scenario: |
| Below 161.60, expect 161.43 and 161.33. |
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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 161.70 and 161.71). |
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| Gold intraday: intraday support around 4040. |
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| Pivot: |
| 4040 |
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| Our preference: |
| Long positions above 4040 with targets at 4095 & 4122 in extension. |
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| Alternative scenario: |
| Below 4040 look for further downside with 4005 & 3985 as targets. |
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| Comment: |
| The next resistances are at 4095 and then at 4122. |
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| Silver intraday: intraday support around 58.40. |
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| Pivot: |
| 58.40 |
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| Our preference: |
| Long positions above 58.40 with targets at 59.60 & 60.70 in extension. |
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| Alternative scenario: |
| Below 58.40 look for further downside with 57.60 & 56.35 as targets. |
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| Comment: |
| The next resistances are at 59.60 and then at 60.70. |
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| Crude Oil (WTI) (Q6) intraday: the upside prevails. |
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| Pivot: |
| 68.60 |
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| Our preference: |
| Long positions above 68.60 with targets at 70.90 & 71.80 in extension. |
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| Alternative scenario: |
| Below 68.60 look for further downside with 67.50 & 66.50 as targets. |
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| Comment: |
| The next resistances are at 70.90 and then at 71.80. |
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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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