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XAUUSD: 9/12 Market Analysis and StrategyTechnical analysis of gold Daily resistance 2700, support below 2580 Four-hour resistance 2654, support below 2627 Gold operation suggestions: Gold's technical side last Friday was slightly higher under the influence of the positive NFP data, and it was under pressure from the 2643 mark, and then fell under the shock. It finally closed below the 2640 mark and showed weak shocks. Today's Asian session slightly jumped high and pierced the 2647 line, and then fell under the degree of suppression and shock. In the short term, the gold price suppressed the recent weak shock consolidation trend below the 2660 mark. From the current 4-hour line trend analysis, we focus on the 2654 line pressure above, and the 2637-2627 line short-term support below. In terms of operation, we will continue to participate in the trend. At present, the 2637-2627 weekly and daily level support below has been supported, and we can continue to be bullish. BUY:2637near BUY:2627near The strategy only provides trading directions. Since it is not a real-time trading guide, please use a small SL to test the signal.
TVC:GOLDLong
by ActuaryJ
S&P 500: Riding the Wave of OptimismS&P 500: Riding the Wave of Optimism Amid Economic and Political Dynamics The S&P 500 continues its upward trajectory, buoyed by tech-driven gains and investor optimism, even as mixed economic data and geopolitical uncertainties loom. Here’s a deep dive into the current market landscape and what it means for the benchmark index. --- Economic and Market Drivers Tech-Led Rally and AI Optimism The S&P 500's performance has been significantly influenced by gains in the technology and AI sectors. Investors are betting on the transformative potential of AI, propelling stocks like Microsoft and Meta to the forefront. However, regulatory scrutiny, such as the FTC's probe into Microsoft's AI software sales, introduces a layer of uncertainty. Resilient Labor Market While the Challenger Layoffs report showed a slight uptick, JOLTS job openings rose to 7.744 million in October, indicating a stable labor market. This balance supports the Federal Reserve’s cautious approach to monetary policy, as Chair Jerome Powell reiterated the economy’s strength and gradual progress in reducing inflation. Mixed Economic Indicators - **ISM Services PMI** fell to 52.1, below expectations of 55.7, suggesting a slowdown in service sector growth. - **Durable goods orders** increased by 0.3%, meeting expectations and reinforcing the narrative of economic stability. - **Construction spending** rose 0.4%, signaling robust investment activity. - **University of Michigan 1-Year Inflation Prelim** came in at 2.9% (forecast: 2.7%, previous: 2.6%), showing slightly higher inflation expectations. - **University of Michigan Sentiment Prelim** reached 74 (forecast: 73.2, previous: 71.8), reflecting improved consumer confidence. These data points reflect a U.S. economy navigating challenges while avoiding a hard landing—a scenario that fuels investor confidence. --- Federal Reserve Policy: A Turning Point? Fed officials, including John Williams and Christopher Waller, have hinted at the potential for a December rate cut, with futures markets now pricing in an **85% likelihood of a 25-basis-point reduction**, up from **67%** before the recent jobs report. Inflation progress appears to have stalled, with Fed Governor Michelle Bowman cautioning that more robust measures may be necessary to meet the 2% target by 2025. The November jobs report further influenced expectations: - US Nonfarm Payrolls rose to 227k (forecast: 220k, previous: 12k, revised to 36k). - US Unemployment Rate ticked up to 4.2% (forecast: 4.1%, previous: 4.1%). - US Average Earnings YoY remained steady at 4% (forecast: 3.9%, previous: 4.0%). These figures reflect a labor market resilient enough to accommodate rate cuts, which could provide an additional boost to equity markets. --- Corporate Highlights: - Salesforce reported Q3 revenue of $9.44 billion, exceeding estimates, but missed on adjusted EPS, reflecting mixed investor sentiment. - Meta (Facebook) is aligning its strategies with evolving political landscapes, as CEO Mark Zuckerberg seeks to navigate regulatory and policy shifts. - *Microsoft faces FTC scrutiny, underscoring increasing regulatory challenges in the tech sector. Despite these challenges, corporate earnings have largely supported market valuations, adding another layer of support for the S&P 500. --- Seasonality and Sentiment: December has historically been a strong month for the S&P 500, driven by: - Holiday-driven consumer spending. - Portfolio rebalancing. - End-of-year tax considerations. snapshot The Fear & Greed Index, currently at 53, indicates a greed-driven sentiment. This optimism aligns with traders pricing in a higher likelihood of Fed rate cuts, reflecting a favorable market environment. --- Outlook: Optimism with Caution The S&P 500’s upward momentum is underpinned by strong tech-sector performance, resilient economic data, and seasonal tailwinds. However, challenges such as geopolitical risks, regulatory scrutiny, and uneven progress in disinflation could temper gains. The Fed's flexibility and potential rate cuts are positive signals for the market, bolstering growth-oriented sectors. Nonetheless, investors should remain vigilant, monitoring corporate earnings, economic releases, and geopolitical developments. In the near term, the S&P 500 appears poised to end the year on a strong note. However, with inflationary pressures, mixed economic indicators, and geopolitical uncertainties still in play, the path forward will require a delicate balance between economic stability and investor confidence.
CAPITALCOM:US500Long
by InvestMate
NASDAQ - Technology Leads Amid Challenges and OpportunitiesNASDAQ - Technology Leads Amid Challenges and Opportunities The NASDAQ index continues to capture investor interest, buoyed by the strength of technology and artificial intelligence (AI) stocks, while navigating regulatory, economic, and geopolitical hurdles. The latest macroeconomic updates and Federal Reserve signals add further dimensions to the narrative shaping the index’s performance. Here’s an expanded analysis, incorporating fresh data and insights. --- Key Macroeconomic Updates Influencing NASDAQ Inflation and Sentiment - University of Michigan 1-Year Inflation Expectations: Actual 2.9% (Forecast 2.7%, Previous 2.6%) This slight increase in inflation expectations signals that consumer inflation concerns remain elevated, despite Federal Reserve efforts. Persistent inflationary pressure could temper optimism around rate cuts. - University of Michigan Sentiment Index: Actual 74.0 (Forecast 73.2, Previous 71.8) The stronger-than-expected sentiment reading reflects consumer confidence in economic resilience, which could support continued spending on technology and digital services, bolstering the NASDAQ index. Labor Market Insights - US Unemployment Rate: Actual 4.2% (Forecast 4.1%, Previous 4.1%) A modest uptick in the unemployment rate suggests a cooling labor market, potentially reinforcing the case for monetary easing. - US Nonfarm Payrolls: Actual 227k (Forecast 220k, Previous 12k, Revised 36k) Strong job growth underscores economic stability but adds complexity to the Federal Reserve's inflation battle. - US Average Earnings YoY: Actual 4.0% (Forecast 3.9%, Previous 4.0%) Wage growth remains steady, indicating ongoing consumer spending power but also signaling potential inflationary pressures. Federal Reserve Dynamics - Fed's Bowman: Progress on inflation seems to have stalled. This commentary reinforces market expectations of a more accommodative monetary stance to counter economic headwinds. - Short-Term Interest Rate Futures: A sharp rise post-jobs report indicates an 85% chance of a rate cut in December, up from 67%. Lower borrowing costs would directly benefit the tech-heavy NASDAQ, as growth stocks typically outperform in low-rate environments. --- Seasonal and Sentiment Factors Historical Seasonality December has historically been favorable for the NASDAQ, driven by: - **Seasonal Consumer Spending:** Electronics and digital services see a surge, supporting revenue for tech companies. - **Portfolio Rebalancing:** Institutional investors often position portfolios for growth into the new year. - **Optimism Around Innovation:** End-of-year announcements and advancements in technology further fuel investor enthusiasm. Investor Sentiment - The **Fear & Greed Index** remains at 53, leaning toward greed, signaling potential for continued short-term market gains. --- Revised NASDAQ Outlook Positives: 1. **Tech Momentum:** The AI-driven rally continues, with companies like Microsoft and Meta capitalizing on innovation and demand. 2. **Federal Reserve Support:** Increasing odds of rate cuts and gradual disinflation expectations create a favorable macro backdrop. 3. **Resilient Economic Indicators:** Strong labor market and durable goods data point to economic stability. Risks: 1. **Regulatory Headwinds:** Scrutiny over AI and antitrust issues may weigh on tech giants like Microsoft and Meta. 2. **Inflation Uncertainty:** Stalled progress on disinflation could delay aggressive monetary easing. 3. **Geopolitical Tensions:** Ongoing global supply chain disruptions pose risks to the tech sector. Conclusion The NASDAQ index is well-positioned to close the year on a strong note, underpinned by robust demand for technology, favorable monetary conditions, and consumer confidence. However, vigilance is essential as regulatory, geopolitical, and inflation-related risks remain prevalent. Key developments, including Federal Reserve decisions and corporate earnings, will be pivotal in shaping the index's trajectory into 2024.
CAPITALCOM:US100Long
by InvestMate
USDJPY H1 ANALYSISBearish Outlook: USDJPY is experiencing a significant downtrend, driven by weakening US economic indicators and monetary policy convergence between the US and Japan. As investors seek to reduce exposure to the currency market, USDJPY has emerged as a top choice for selling interest. Risk Management: 1. Stop-Loss: Set at 150.936 2. Position Sizing: Manage position size to avoid over-exposure to market volatility 3. Risk-Reward Ratio: Set at 1:2 or 1:3 to ensure potential rewards outweigh potential risks Target: 1. Primary Target: 149.238 Best wishes Tom 😎
Short
by Tom_Trades_670
1
Reserve Rights Posts Surprise 200% Rally in 2 Days. What’s RSR?We’re in that period of the cycle where crypto is never dull. Amid all the hype of Bitcoin hitting $100,000 (spectacular in and of itself), a fairly small token is skyrocketing 200%, hitting a $1.2 billion market cap, and clawing its way into the Top 100 . The trigger? Donald Trump. The President-elect has tapped a very special figure to become boss of the Securities and Exchange Commission. The crypto world welcomes Paul Atkins, a former SEC commissioner and a crypto bro. He has quietly been advising that same token we're talking about — Reserve Rights RSRUSD . RSR in Plain English Reserve Rights RSRUSD is a volatile coin part of a two-token stablecoin project built on Ethereum. Its mission? To help create a stable, decentralized currency that can replace volatile fiat currencies, especially in economies plagued by hyperinflation. Think Venezuela or Zimbabwe — places where you have to drop a pile of cash to purchase a cup of coffee. The Reserve ecosystem uses two tokens: Reserve Dollar (RSV) - A stablecoin pegged to a basket of assets like fiat, commodities and other cryptos. This is your boring, stable bud. Reserve Right (RSR) - The volatile counterpart. RSR is used to maintain RSV’s peg and offers governance rights. It’s also the token that traders bet on, as seen by its recent moonshot. What makes Reserve Rights interesting to traders and investors is its vision of financial inclusion. It aims to give everyday people in struggling economies a reliable alternative to crumbling national currencies, without needing to trust a central bank. Lofty? Yes. Achievable? That’s where the intrigue lies. Enter Paul Atkins: Crypto’s Quiet Ally Paul Atkins isn’t a stranger to regulation. As a former SEC commissioner, he earned a reputation for being pro-business and wary of regulatory overreach. Since leaving the SEC in 2008, Atkins has been advising banks, trading firms, fintech companies, and — since 2017 — crypto projects and crypto companies, including Reserve Rights. If Atkins takes the SEC’s reins (there’s been some talk he’s a bit hesitant), it could mark a seismic shift in US crypto regulation. More like… deregulation. Atkins has long advocated for a more nuanced approach to digital assets, favoring innovation over stifling rules. This doesn’t really mean anything for Reserve Rights. It’s just a project Atkins happens to have worked on. No official comments have been made as to whether this crypto would get any special treatment by the SEC under Atkins. In fact, all crypto could get vaulted to smoother paths to compliance and wider adoption. One thing, however, could justify RSR’s explosive rally. Traders are likely imagining a world where the SEC supports projects like Reserve instead of slapping them with lawsuits (like Ripple’s XRP). It’s a potential regulatory dream scenario. Why the Market Reacted So Strongly But let’s get back to the updraft and the token's well-deserved place among crypto's Top Gainers : RSR’s 200% rally last week propelled the price from $0.009 to $0.026 in just a couple days. Tiny in price terms, but that’s because there are 53 billion tokens in circulation out of 100 billion max supply. Where you need to look is the market cap. And that’s grand — it shot up to $1.4 billion from less than $500 million. All that good stuff wasn’t because the token suddenly discovered cold fusion. Markets move on perception, and Atkins’ crypto-friendly stance is a big deal. Traders see him as the potential captain who might steer the SEC ship away from stormy anti-crypto waters and into the cool breeze of loose regulatory guardrails. The Catch: Real vs. Hyped Value Before you mortgage your house for RSR ( don’t do it ), a dose of skepticism is in order. While Paul Atkins is undeniably crypto-friendly, his potential appointment doesn’t guarantee a green light for Reserve Rights or any specific project. Regulatory changes take time, and the crypto market generally likes to run ahead of events. RSR’s fundamentals haven’t changed overnight. That makes the pump forward-looking, driven by headlines rather than anything concrete like adoption or utility metrics. But even without Atkins in the chair, Reserve Rights has carved out a niche for itself since its launch in 2019. What’s Your Move? RSR’s recent rally might be tempting, but as any tried-and-tested trader will tell you, hype-driven moves are a double-edged sword. If you believe in Reserve’s mission and the potential for a crypto-friendly SEC, consider it a long-term bet. If you’re just chasing the pump, tread carefully — crypto has a way of humbling the overconfident. So, what’s your move? Is RSR a hidden gem or just another token riding the wave of speculation? Let’s hear your thoughts — drop them in the comments below.
CRYPTO:RSRUSD
by TradingView
10
US Tariffs: Deflationary Risk for Europe?EURUSD faces a crucial week, marked by key economic events and trade tensions. As US protectionist policies under President-elect Donald Trump could intensify deflationary pressures in Europe. Impact of U.S. tariffs While tariffs are often associated with inflation, in Europe they could have the opposite effect due to limited exposure to U.S. imports and their indirect impact on growth and employment. U.S. imports account for only 10% of the total in the Eurozone, with consumer goods barely reaching 6%, limiting the direct impact on prices. However, a 10% across-the-board tariff could reduce economic growth in the Eurozone by 0.3%, affecting employment and wages in key sectors such as manufacturing. On the export side, lower demand for European goods from the U.S. and China could deepen economic problems, although the eurozone previously benefited from the reorientation of global trade. In addition, previous trade disputes showed that a surge in Chinese imports into Europe contributed to disinflationary pressures. ECB meeting this Thursday The European Central Bank (ECB) will address a complicated environment of high uncertainty this Thursday, with trade tensions and signs of economic weakness. While no rate changes are expected, statements on the impact of trade tensions and the growth outlook will be crucial in determining the direction of the euro, the tone of the statements will be key to market expectations. A more cautious stance could weaken the euro, while any hint of optimism could give the currency a slight respite. Monetary policy could remain accommodative if economic projections continue to deteriorate. German trade balance on Friday Friday's release of Germany's trade balance will offer a signal on the health of Europe's economic engine. A larger surplus could support the euro, but an unexpected deficit, combined with tariff concerns, would reinforce negative sentiment about the eurozone economy. Between trade tensions and macroeconomic data, EUR/USD could experience high volatility this week, reflecting growing concerns about the European economic outlook. Progress on the Mercosur-EU agreement This weekend, Ursula von der Leyen, President of the European Commission, concluded a free trade agreement between Mercosur and the European Union. The first attempt was formally launched in 1999, in negotiations that began as part of a broader cooperation framework established in 1995 (Framework Agreement on Interregional Cooperation). The agreement did not close despite looking promising on its last occasion as it faced multiple interruptions over the years due to disagreements in key areas such as agricultural products, industrial market access, environmental rules and labor rights. After intermittent negotiations, a preliminary agreement was announced in 2019, although its implementation is still pending due to debates over environmental issues. This time the agreement has generated very explosive messages from the Spanish agricultural camp and full opposition from Emmanuel Macron, the current main drivers being Germany and Spain. If finalized, it could boost trade and offer economic respite to both regions. A favorable agreement would strengthen European exports to Latin America, offsetting some of the negative effects of trade tensions with the US. Technical Aspect Looking at the 1H. chart, since December 9-10 the market has made a strong upward price recovery rally, with very high trading volume on the current trading day to the upside. The directionality of the euro seems to be trying to recover 1.05996 with the current price at 1.05641. The moving average is determining a possible opening in an upward direction, despite the checkpoint being around 1.05241. RSI is currently in its middle zone at 52.77%. In this environment full of uncertainties, EURUSD could experience high volatility, reflecting the interplay between trade challenges, ECB decisions and the potential breakthrough in the Mercosur-EU treaty. Ion Jauregui - Activtrades Analyst ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
by ActivTrades
EUR/USD: Diverging Economic Realities Point to Further WeaknessEUR/USD: Diverging Economic Realities Point to Further Weakness The EUR/USD currency pair faces mounting pressure as economic data and central bank commentary from both sides of the Atlantic paint contrasting pictures. With the year-end approaching, traders are navigating through a mix of historical trends, updated macroeconomic indicators, and shifting monetary policy expectations. --- Eurozone: Fragility Persists Industrial and Consumer Weakness Germany's 1.5% MoM decline in industrial orders, though marginally better than expected, reflects ongoing struggles in Europe's largest economy. Additionally, retail sales in the Eurozone fell by 0.5% MoM, highlighting a weak consumer spending environment that continues to drag on growth prospects. PMI and GDP Concerns The Composite PMI edged up slightly to 48.3, but contraction persists, underscoring the broader economic challenges in the region. Italy's downward revision of GDP forecasts further dampens sentiment, increasing the likelihood of more accommodative measures from the European Central Bank (ECB). ECB's Dovish Tilt ECB policymakers, including Robert Holzmann, have signaled a potential rate cut in December, reflecting a shift towards easing amid the Eurozone's persistent economic struggles. However, political instability, such as France's no-confidence vote against President Macron, adds another layer of uncertainty to the region's economic outlook. --- United States: Resilience Amid Inflation Challenges: Economic and Labor Market Data The U.S. economy continues to show signs of resilience. Durable goods orders rose 0.3% and construction spending increased by 0.4%, aligning with expectations. Despite a slight drop in the ISM Services PMI to 52.1, the economy remains in expansion mode. The labor market also remains a pillar of strength - Nonfarm Payrolls: 227k (forecast: 220k, previous: 12k, revised: 36k). - Unemployment Rate: 4.2% (forecast: 4.1%, previous: 4.1%). - Average Earnings YoY: 4.0% (forecast: 3.9%, previous: 4.0%). While layoffs have ticked up slightly, strong payroll growth and stable wages suggest continued labor market robustness, albeit with signs of gradual cooling. Fed's Monetary Policy Path Fed officials, including John Williams and Mary Daly, have hinted at potential rate cuts in 2024, but progress on inflation appears to have stalled, as noted by Fed Governor Michelle Bowman. Market sentiment is shifting rapidly—traders now see an 85% probability of a Fed rate cut this month, up from 67% before the November jobs report. Short-term interest-rate futures have surged, reflecting growing expectations of a dovish pivot. However, the Fed remains cautious, balancing inflationary risks with economic stability. --- Inflation and Consumer Sentiment The University of Michigan's latest data reinforces the U.S. economy's resilience: - 1-Year Inflation Expectations: 2.9% (forecast: 2.7%, previous: 2.6%). - Consumer Sentiment Prelim: 74.0 (forecast: 73.2, previous: 71.8). Elevated inflation expectations and improving consumer sentiment contrast with the Eurozone's gloomy outlook, further strengthening the dollar's appeal. --- EUR/USD Outlook: Bearish Bias Remains Intact Despite historical trends that favor the euro in December, the current economic backdrop presents significant challenges for sustained appreciation. Weak Eurozone data and a dovish ECB stand in stark contrast to the U.S. economy's relative stability and the Fed's measured approach. Key Factors Driving EUR/USD: 1. Diverging Data: Strong U.S. labor and inflation figures versus weak Eurozone performance. 2. Monetary Policy: Fed's cautious flexibility versus ECB's dovish signals. 3. Sentiment Shift: Rising probability of U.S. rate cuts but with a stronger baseline economy. While seasonal trends may provide temporary relief for the euro, the broader trajectory points downward. Traders should focus on macroeconomic developments and central bank guidance as the primary drivers for the pair in the coming weeks. The euro's path to recovery remains steep, with the U.S. dollar maintaining the upper hand in the current environment.
Short
by InvestMate
1
BTCUSD H1 ANALYSISBullish Outlook: Bitcoin prices are experiencing a significant uptrend, driven by increasing adoption and institutional investment. As investors seek exposure to the cryptocurrency market, Bitcoin has emerged as a top choice, attracting strong buying interest. Risk Management: 1. Stop-Loss: Set at $97,570 2. Position Sizing: Manage position size to avoid over-exposure to market volatility 3. Risk-Reward Ratio: Set at 1:2 or 1:3 to ensure potential rewards outweigh potential risks Target: - Primary Target: $103,515 Best Wishes Tom 😎
Long
by Tom_Trades_670
1
Gold: A Beacon in Economic UncertaintyGold: A Beacon in Economic Uncertainty Gold has long been a symbol of stability, value, and security. In today’s turbulent economic and political environment, its role as a safe-haven asset is more critical than ever. Global events, ranging from monetary policy shifts to geopolitical crises, are shaping the price of this precious metal. What does the future hold for gold, and what does it mean for investors? --- A Safe Haven in Chaotic Times During periods of global uncertainty, when financial markets grapple with volatility, gold remains one of the most sought-after assets. Recent events, such as the government crisis in France, fiscal policy uncertainties in the United States, and OPEC+ decisions to extend oil production cuts, have highlighted its enduring appeal. Gold is often viewed as a stabilizer amid market turmoil, especially when investors are concerned about rising inflation and economic slowdowns. In Europe, the European Central Bank’s plans for further interest rate cuts enhance the attractiveness of assets like gold, which serve as a hedge against currency devaluation. --- Macroeconomic Trends Supporting Gold Prices 1. Monetary Policy and Real Interest Rates Both the U.S. Federal Reserve and the European Central Bank are adopting dovish stances, which bodes well for gold prices. In an environment of low real interest rates—where inflation outpaces bond yields—investors increasingly turn to gold as a protective asset. 2. Growing Demand for Gold Central banks worldwide, particularly in China and India, are ramping up gold purchases, increasing global reserves. This reduced market supply acts as a catalyst for price growth. 3. Geopolitical Tensions Political crises, such as budget impasses in the U.S. and uncertainty in the European Union stemming from France’s leadership challenges, drive investors toward safe-haven assets, lifting gold's value. --- Gold in the Digital Age Modern technologies like blockchain are revolutionizing gold investment. Tokenization is making the gold market more accessible, blending the stability of traditional assets with the flexibility of digital solutions. Individual and institutional investors are increasingly leveraging these advancements, recognizing their potential to shape the future of the gold market. --- Forecast: Will Gold Hold Its Shine? Experts predict that gold will remain in the spotlight in the coming years. Anticipated developments include: - Further interest rate cuts in Europe and the United States. - Rising geopolitical and political tensions, increasing demand for protective assets. - Sustained high demand from central banks and financial institutions. In the long term, gold appears to be an excellent hedge against inflation and market volatility. --- Conclusion Gold, throughout history, has been synonymous with value and security. Amid today’s global economic and political challenges, its role is more crucial than ever. Investors should view gold not only as a means of capital preservation but also as a cornerstone of a well-diversified investment portfolio. Is gold part of your financial strategy? In times of uncertainty, it may be precisely what you need for stability and peace of mind.
OANDA:XAUUSDLong
by InvestMate
1
Possible BUY on GOLDReason for buying? FED Lowering their interest rates which is good for the Gold. Gold was a traditional Hedge against inflation, with Trump proposed tariff which likely inflationary, I guess Gold will get some demand on this Demand for Gold in some Asian countries. China's central bank resumes gold purchases after six-month hiatus in Nov (Source: Reuters) Geo Political events. Rumors about "Santa Rally" that happening every year (Seasonality). End-year rebalancing flow ( Bargain-Expensive-Cheaper)
OANDA:XAUUSDLong
by ttf-funda
WTI recovered slightly, the outlook tilted to the downsideWTI TVC:USOIL increased slightly in the Asian trading session on Monday (December 9), trading around 67.50 USD/barrel. Oil prices fell sharply last Friday, closing near their lowest level, mainly due to expected declines in global demand. However, expectations that the Federal Reserve will cut interest rates in December increased following the release of US nonfarm data. According to CME Group's FedWatch, federal funds rate futures trading points to the possibility of a 25 basis point rate cut by the Federal Reserve. point in December was nearly 90%, which will provide some support for oil prices. Currently, uncertainty about the geopolitical situation increased again at the weekend, making the medium-term recovery of oil prices still not optimistic. In the short term, crude oil traders need to continue to observe whether the pressure brought about by the geopolitical situation on the supply side will support oil prices to continue to recover. Essentially, this week will continue to focus on changes in inventory data and whether demand-side pressures ease. This week, the financial market in general and the crude oil and WTI crude oil trading market in particular will focus on US CPI data. On the daily chart, WTI TVC:USOIL although it recovered slightly in the opening Asian trading session today (December 9), it still has all the technical factors supporting bearish expectations. With the long-term trend being noticed by the price channel followed by the short-term price channel, it has both a long-term and short-term trend of decreasing prices. On the other hand, WTI crude oil is also under main pressure from EMA21 along with the 0.236% Fibonacci retracement level. In the short term, if WTI crude oil is sold below 65.28USD, there will be a prospect for a new downtrend to open, and the technical point of 68.34USD is the closest resistance currently. The relative strength index also maintained price activity below the 50 level, which should be considered a negative signal for WTI crude oil technically. During the day, the technical outlook for WTI crude oil on the daily chart leans bearish with notable points listed below. Support: 66.44 – 65.28USD Resistance: 68.34 – 69.51USD
TVC:USOILShort
by Xayah_trading
EURUSD Daily Pivot Points Analysis 06-Dec-2024📣EURUSD Daily Pivot Points Analysis 06-Dec-2024 Over the last two weeks, EURUSD has managed to hold the Daily Pivot Point, showing a small pause in the bearish trend. In the past three days, EURUSD has closed three bullish candles in a row, indicating an increase in bullish momentum. The last daily candle also closed bullish, suggesting further growth. EURUSD may rise today in anticipation of weaker NFP data. The resistance/target zones can be found at the Daily Resistance levels: Daily R1 - 1.0613, Daily R2 - 1.0642, and Daily R3 - 1.0695. From these areas, the price may move down to the previous support area or test the pivot point zone. --------------------------------------------------------------- EURUSD Daily Pivot Points 06-Dec-2024 Daily R3 - 1.0619 Daily R2 - 1..0582 Daily R1 - 1.0547 Daily Pivot Point - 1.0510 Daily S1 - 1.0475 Daily S2 - 1.0438 Daily S3 - 1.0403 --------------------------------------------------------------- A pivot point is an intraday technical indicator that's used to identify trends and reversals in equities, commodities, and forex markets. Pivot points are calculated to determine levels in which the sentiment of the market could change from bullish to bearish and vice-versa. --------------------------------------------------------------- You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
4