US stock futures fell in early trade while equities across the Asian region were mixed as investors weighed signs of progress in talks to avert a debt default and persistent inflationary pressure. The focus for this week is on U.S. industrial production and retail sales data to provide further signals on the world's largest economy. Additionally, markets await Fed speakers this week, including Fed Chair Jerome Powell on Friday.
Lira Traders Brace for Volatility as Turkey Heads to Runoff read on
Asian stocks dip ahead of Chinese data, Fed cues read on
Oil falls as economic concerns offset prospect of tighter supplies read on
Gold pressured by stronger dollar before Fed-heavy week read more
Dollar hits 5-week high on inflation worries; lira drops, baht soars read more
The Week Ahead in Forex, Chump Profit read more
Key events today.
Eurozone industrial production
US cross-border investment, New York Fed Empire Manufacturing
Atlanta Fed’s Raphael Bostic speaks at his bank’s annual financial markets conference
“Intraday forex trading signals". Our top forex trades for today, we look at the technicals and fundamentals to generate profits daily on the most traded correlated assets in the world.
Dollar Index (ICE) intraday: Bullish
Pivot: 102.44
Our preference:
Above 102.44 look for further upside with 102.95 & 103.21 & 103.72 as targets.
Alternative scenario:
Short positions below 102.44 with targets at 102.18 & 101.67 & 101.41 in extension.
Comment:
Looking at the H4 chart, our overall bias for Dollar Index is bullish as the price has now moved above the Ichimoku cloud, even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The RSI shows further upward momentum.
Gold Intraday: Bullish
Pivot: 2011.41
Our preference:
Long positions above 2011.41 with targets at 2021.93 & 2033.08 & 2043.60 in extension.
Alternative scenario:
Below 2011.41 look for further downside with 2000.26 & 1989.74 & 1978.59 as targets.
Comment:
Looking at the H4 chart, our overall bias for XAU/USD is bullish as the current price has now headed above the Ichimoku cloud. The RSI shows upward momentum.
USD/JPY Intraday: Bullish
Pivot: 135.30
Our preference:
Long above 135.30 with targets at 136.21 & 136.67 & 137.58 in extension.
Alternative scenario:
Short positions below 135.30 look for further downside with 134.84 & 133.93 & 133.47 as targets.
Comment:
Looking at the H4 chart, our overall bias for USDJPY is bullish as the current price is above the Ichimoku cloud indicating an uptrend. RSI indicates further upside momentum.
AUD/USD Intraday: Bearish
Pivot: 0.6661
Our preference:
Short below 0.6661look for further downside with 0.6616 & 0.6589 & 0.6544 as targets.
Alternative scenario:
Long positions above 0.6661 with targets at 0.6688 & 0.6733 & 0.6760 in extension.
Comment:
Looking at the H4 chart, our overall bias for AUDUSD is bearish as the price is below the Ichimoku cloud. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The RSI is heading for neutral.
Crude Oil (WTI) West Texas Intermediate: : Bearish
Pivot: 70.58
Our preference:
Short positions below 70.58 look for further downside with 69.39 & 68.73 & 67.54 as targets.
Alternative scenario:
Long positions above 70.58 with targets at 71.24 & 72.43 & 73.09 in extension.
Comment:
Looking at the H4 chart, our overall bias for WTI is bearish as the price is heading below the Ichimoku cloud in a downtrend. The RSI shows further downward momentum.
USD/CAD Intraday: Bullish
Pivot: 1.3532
Our preference:
Long positions above 1.3532 with targets at 1.3584 & 1.3619 & 1.3671 in extension.
Alternative scenario:
Short positions below 1.3532 look for downside with 1.3497 & 1.3445 & 1.3410 as targets.
Comment:
Looking at the H4 chart, our overall bias for USDCAD is bullish, as the current price is above Ichimoku cloud. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The RSI shows further upward momentum.
EUR/USD Intraday: Bearish
Pivot: 1.088
Our preference:
Short positions below 1.088 look for downside with 1.082 & 1.079 & 1.073 as targets.
Alternative scenario:
Long positions above 1.088 with targets at 1.091 & 1.097 & 1.100 in extension.
Comment:
Looking at the H4 chart, our overall bias for EUR/USD is bearish as the current price is below the Ichimoku cloud signifying a downtrend. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The RSI is neutral.
GBP/USD Intraday: Bearish
Pivot: 1.248
Our preference:
Short positions below 1.248 with targets at 1.241 & 1.238 & 1.232 in extension.
Alternative scenario:
Long positions above 1.248 look for further upside with 1.251 & 1.258 & 1.261 as targets.
Comment:
Looking at the H4 chart, our overall bias for GBPUSD is bearish as the current price is now below the Ichimoku cloud. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The RSI shows downward momentum.
Nasdaq 100 Intraday: Bullish
Pivot:
13,341
Our preference:
Long positions above 13,341 with targets at 13,426 & 13,512 & 13,597 in extension.
Alternative scenario:
Below 13,341 look for further downside with 13,255 & 13,170 & 13,084 as targets.
Comment:
Looking at the H4 chart, our overall bias for Nasdaq 100 is bullish as the current price is above the Ichimoku cloud. The RSI indicates further upward momentum.
“Intraday forex trading signals". Our top 9 forex trades for today, we look at the technicals and fundamentals to generate profits daily on the most traded correlated assets in the world.
For our Managed Forex Account Service , email jeannette@chumpprofit.com for contact.
Our website offers information about investing, trading and saving, but not personal advice. If you're not sure which investments are right for you, please request advice, for example from your financial advisers. If you decide to invest or trade, remember that investments can go up and down in value, so you could get back less than you put in. ©2023 by Chump Profit.