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May 19, 20232 min read

Technical Analysis:Your Daily Dose of Market Insights, May 19, 2023

Investors have been closely focused on the ongoing discussions surrounding the U.S. debt ceiling, and the growing optimism surrounding a potential agreement has propelled U.S. stocks higher in the previous trading session. Additionally, oil prices experienced a strong rally, reflecting the prevailing risk appetite, and are on track to achieve their first weekly gain in over a month. Meanwhile, gold has modestly recovered from its significant decline yesterday and is currently trading higher.

Key events today.

  • ECB President Christine Lagarde participates in panel at Brazil central bank conference.

  • New York Fed’s John Williams speaks at monetary policy research conference in Washington; Fed Chair Jerome Powell and former chair Ben Bernanke to take part in panel discussion.

"Discover our expert analysis of technical and fundamental factors to generate daily profits in the highly traded and correlated global forex market". CP

 

Dollar Index (ICE)‎ intraday:

Pivot: 103.33


Dollar Index DXY "A bar chart displaying forex currency and commodities prices with green and red candles representing trading trends over a daily time frame. The chart includes indicators such as moving average and Bollinger bands, along with the Relative Strength Indicator (RSI)."

Gold Intraday:


Pivot: 1965.08


Gold XAU/USD "A bar chart displaying forex currency and commodities prices with green and red candles representing trading trends over a daily time frame. The chart includes indicators such as moving average and Bollinger bands, along with the Relative Strength Indicator (RSI)."

USD/JPY Intraday:

Pivot: 138.25


USD/JPY "A bar chart displaying forex currency and commodities prices with green and red candles representing trading trends over a daily time frame. The chart includes indicators such as moving average and Bollinger bands, along with the Relative Strength Indicator (RSI)."

AUD/USD Intraday:

Pivot: 0.6633


AUD/USD "A bar chart displaying forex currency and commodities prices with green and red candles representing trading trends over a daily time frame. The chart includes indicators such as moving average and Bollinger bands, along with the Relative Strength Indicator (RSI)."

Crude Oil (WTI)‎ West Texas Intermediate: :


Pivot: 71.92


Crude Oil WTI "A bar chart displaying forex currency and commodities prices with green and red candles representing trading trends over a daily time frame. The chart includes indicators such as moving average and Bollinger bands, along with the Relative Strength Indicator (RSI)."

FP Markets forex broker sales banner promoting trading commodities in volatile markets with tight spreads. Trade now. Image shows barrels of oil with black and yellow stripes.

USD/CAD Intraday:

Pivot: 1.3478


EUR/USD Intraday:

Pivot: 1.079


EUR/USD "A bar chart displaying forex currency and commodities prices with green and red candles representing trading trends over a daily time frame. The chart includes indicators such as moving average and Bollinger bands, along with the Relative Strength Indicator (RSI)."

GBP/USD Intraday:

Pivot: 1.243


GBP/USD "A bar chart displaying forex currency and commodities prices with green and red candles representing trading trends over a daily time frame. The chart includes indicators such as moving average and Bollinger bands, along with the Relative Strength Indicator (RSI)."

EUR/GBP Intraday:

Pivot: 0.8684


EUR/GBP "A bar chart displaying forex currency and commodities prices with green and red candles representing trading trends over a daily time frame. The chart includes indicators such as moving average and Bollinger bands, along with the Relative Strength Indicator (RSI)."

Nasdaq 100 Intraday:


Pivot:

13,762


Nasdaq stock tech 100 index "A bar chart displaying forex currency and commodities prices with green and red candles representing trading trends over a daily time frame. The chart includes indicators such as moving average and Bollinger bands, along with the Relative Strength Indicator (RSI)."


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