Financial Updates Today

General Market Overview

Oil prices slid down by over 3% as Middle East tensions eased. However, analysts do note that WTI is showing a good buying opportunity as it slides down. In the future, we can see demand overshadow supply.

The equities are sliding to a high as markets open but closing at a lower level than yesterday, dropping for the past few days. Analysts mention positioning in an earnings indigestion and say, hold a little of healthcare and consumer staples. To decide to hedge the volatility and hold it out on momentum-based portfolios, and weigh them with options.

GOLD - Our outlook on GOLD remains bullish as the price stays in a range between the hourly structures at 2365.743 and 2392.470. We can see the price breaking above to continue the bullish trend but is unsure of how long prices will last in this range.

SILVER -Silver is still stuck in between the range of hourly structures at 28.073 and 29.018. Our overview of the price remains bullish. We must wait for the price to break below or above before any movements can be made.

DXY -The DXY is supported by the hourly structure at 105.840 and pushing upward into 106.111, failing the shift in momentum. We see today that the dollar is regaining strength. We still wait for the break above 106.394 before seeing a consistent momentum into the next structure.

GBPUSD - GBPUSD has failed to touch the daily range as it attempts to break below the hourly structure at 1.24268. We must wait for the break to occur to call on a sustainable momentum. We see the pair bearish.

AUDUSD - AUD is once again attempting to break below the hourly structure at 0.64086 after breaking slightly above the daily structure at 0.64427. A clean break is required to find a clear momentum continuation but we continue to see the pair bearish.

NZDUSD - NZD was resisted by the hourly structure at 0.59288, failing the shift in momentum. Currently, it has broken slightly below the 0.58984 and possibly, will drop towards the daily structure at 0.58856 to continue bearish. Our call on this pair is still bearish. 

EURUSD -EURUSD has failed to test the hourly structure at 1.06988, failing the momentum shift. It has broken back below the 1.06660 and might test 1.06227. We need to find a break below to continue the momentum. We still see this pair to be bearish.

USDJPY - The JPY failed to break below the 154.112 as USD regained strength. We now see a price break above the 154.430 and back into testing the 154.771. Upon break, we may see a continuation in momentum into the next structure. We still view this as a bullish market as a shift in momentum failed.

USDCHF - Price failed to test hourly structure at 0.90743 and failed shift in momentum as price broke back into 0.91036. Although, we still view the chart to be in a range. We still view the market to be bullish.

USDCAD -USDCAD has failed to test the 1.37261, failing the shift in momentum, as it broke back into the 1.37745 and might attempt to break beyond the daily structure at 1.37881. We must wait for a clean break into said structures before anything happens as markets stall for market orders. We still call USDCAD bullish.     

Reminder:

It is now closing day for markets. It is important to note that markets might experience a slowdown or a filling of orders. There is also a chance for parabolic or very aggressive movements in the market to occur. We advise exercising caution and prudence during these market conditions unless a good setup is available to make trades.