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May 23, 20231 min read

Technical Analysis:Your Daily Dose of Market Insights, May 23, 2023

US Equity Futures and Oil Rise on Improved Risk Appetite Following Productive Debt Ceiling Talk between President Biden and Speaker McCarthy

  • Debt-Ceiling Talks, Credit Suisse Swaps, ECB Rates, and Scholz's Support for Biden read on

  • US debt ceiling crunch threatens to roil complacent stock market read on

  • Morning Bid: PMIs could knock stocks off highs read on

  • US debt ceiling talks described as productive but no deal yet read more

  • Oil rises 1% as supplies shrink, demand seen higher read more

  • 3 things affecting gold prices now read more

Key events today.

  • Eurozone S&P Global Eurozone Manufacturing & Services PMI

  • US new home sales

  • Dallas Fed President Lorie Logan speaks

 

Dollar Index (ICE)‎ intraday:

Pivot: 103.18

Dollar index A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

Gold Intraday:


Pivot: 1974.37



gold xau/usd A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

USD/JPY Intraday:

Pivot: 138.26

USD/JPY A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

AUD/USD Intraday:


Pivot: 0.6649


AUD/USD A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

Crude Oil (WTI)‎ West Texas Intermediate: :


Pivot: 71.90


WTI crude oil A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

USD/CAD Intraday:

Pivot: 1.3504


USD/CAD Bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

EUR/USD Intraday:

Pivot: 1.081


EUR/USD Bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

GBP/USD Intraday:

Pivot: 1.244

GBP/USD Bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

EUR/GBP Intraday:

Pivot: 0.8695

EUR/GBP Bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

Nasdaq 100 Intraday:


Pivot:

13,845

Nasdaq 100 stock price index Bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.


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