US equities were largely subdued, with the S&P 500 inching up +0.02%, marking its sixth straight record high, the longest streak since July 2023. Despite the headline gain, over 70% of S&P 500 stocks declined, revealing weak breadth and suggesting index gains are being driven by a narrow group of large-cap tech names.
Tech led the way, with the information...
The EURAUD pair is currently trading with a bearish bias, aligned with the broader range-bound sideway consolidation. Recent price action shows a retest of the resistance, (previous rising support)
Key resistance is located at 1.7907, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish rejection from...
The EURCHF pair is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the falling resistance, suggesting a temporary relief rally within the downtrend.
Key resistance is located at 0.9340, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish...
The EURUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 1.1526 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 1.1526 would confirm ongoing upside momentum, with potential targets at:
1.1714 – initial...
The DAX remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 23925 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 23925 would confirm ongoing upside momentum, with potential targets at:
24605 – initial...
Key Data Releases
US:
JOLTS (June): Provides insight into labor market slack; a tighter reading could delay Fed rate cuts.
Advance Goods Trade Balance & Wholesale Inventories: Important for Q2 GDP revisions.
Consumer Confidence (July): A strong print would reflect continued consumer resilience, a weak one could pressure cyclicals.
Dallas Fed Services Activity...
Trend Overview:
The AUDUSD currency price remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 0.6465 (primary pivot), followed by 0.6445 and 0.6400
Resistance: 0.6570...
The NZDUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 0.5950 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 0.5950 would confirm ongoing upside momentum, with potential targets at:
0.6070 – initial...
The USD/CHF pair is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the falling resistance, suggesting a temporary relief rally within the downtrend.
Key resistance is located at 0.8045, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish...
The Silver remains in a bullish trend, with recent price action showing signs of a continuation breakout within the broader uptrend.
Support Zone: 3686 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 3686 would confirm ongoing upside momentum, with potential targets at:
3814 – initial...
The Gold remains in a bullish trend, with recent price action showing signs of a continuation breakout within the broader uptrend.
Support Zone: 3308 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 3308 would confirm ongoing upside momentum, with potential targets at:
3387 – initial...
The EURGBP remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 0.8677 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 0.8677 would confirm ongoing upside momentum, with potential targets at:
0.8775 – initial...
The GBPAUD pair is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the resistance, suggesting a temporary relief rally within the downtrend.
Key resistance is located at 2.0600, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish...
The GBPUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 1.3370 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 1.3370 would confirm ongoing upside momentum, with potential targets at:
1.3480 – initial...
The FTSE remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 9092 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 9092 would confirm ongoing upside momentum, with potential targets at:
9210 – initial...
Market Summary – Monday, July 28:
Data: The Dallas Fed manufacturing index is expected to stay weak, highlighting ongoing softness in US regional manufacturing.
Earnings:
EssilorLuxottica – Consumer strength and China demand in focus.
Cadence Design Systems – Insight into AI and semiconductor R&D spending.
Heineken – Signals on global consumer demand and...
The ETHUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 3500 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 3500 would confirm ongoing upside momentum, with potential targets at:
3842 – initial...
The BTCUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 114,850 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 114,850 would confirm ongoing upside momentum, with potential targets at:
122,900 –...
