Skilling

Skilling

Nov 29, 2022 Daily Insight Market Talk EUR/USD failed to hold yesterday’s high; traders may have moved into the USD in front of tomorrow's Euro area inflation data USD/JPY lower after Japan retail sales increase for the 8th month in a row Brent/WTI crude oil higher on positive supply/demand news; reports OPEC+ may cut output at its December...

Skilling

S&P 500 Index Technical conditions: The +5.7% price jump on November 10th could be viewed by technical analysis as a “Flag pole” since the recent seven day price consolidation (daily chart) suggests a “textbook” bull flag continuation pattern is forming. The bullish theme seems to be holding with higher tops and lower bottoms on price since finding support at...

Skilling

Crude prices under downside pressure on the back of weaker demand outlook The recent break below the $92 short term support level has opened up the prospects for a further decline towards a test of the September 30th lows near $84, the bearish outlook can be technically supported by the fact that current price is below its 20 and 50 day simple moving averages,...

Skilling

TODAY’S MARKET IDEA: Cotton price looking bullish after breaking above 50 day moving average Cotton vs US Dollar current price $88.25, both rate of change 4 and 13 day above zero line (bullish); MACD above its signal line (bullish) and the fact that current price is above both its respective 20 and 50 day moving averages indicate bullish technical...

Skilling

EURO STOXX 50 INDEX: Potential for bullish extension towards 3,950 and 4,000 in the short term (5 to 25 days). This can be technically supported by the fact that current price is above its 4 and 40 week moving averages, the clearing above the 3,810 August (17th high) and the facts that both the 4 and 13 week rate of change indicators are above their respective...

Skilling

EUR / GBP: Bullish outlook despite the pullback on November 10th and the fact that price found support above the 40 week (200 day) moving average which also intersects at 0.8686 (the 50% retracement from 4 week high / low) indicates the pair may have strong buyer support, this can be further supported by the fact that current price remains above its 4 week...

Skilling

Gold: short term bullish conditions remain intact, 5 day moving average above 50 day moving average may be a signal that could support long positions, upside resistance seen near $1,730 while key support sits near $1,615 Not investment advice. Past performance is not indicative of future results.

Skilling

Daily Insight Commentary: Monday - German Industrial Production m/m beats forecast this follows Friday’s strong September factory orders data German DAX +12% since October 13th Higher tops and higher bottoms on price indicates short term uptrend taking shape (daily chart) , however resistance in front of current price may push price lower before...

Skilling

EUR / USD to trend higher since the ECB is still way behind the FED on rates? EUR / USD: the pullback over the previous four trading days seems corrective from the +2.6% 30-day increase; the break above the 0.9820 level could provide a solid floor and potentially may have triggered a bull market signal; provided price can remain above the key support at...

Skilling

Current price seems to continue to push above the mid-September highs with further short term (5-25 days) upside potential spotted near 33,785 ( 61.8% retracement from the 52 week low) long positions could be technically supported provided price hold above the 32,135 support, otherwise a break below support opens up the prospects for a test of 31,275 (38.2%...

Skilling

Looking ahead - ECB interest rate decision tomorrow Tomorrow: 12:15 GMT European Central Bank (ECB) meeting takes place where a +0.75% (75 basis point) increase is expected Market movers: German DAX testing resistance opening up the potential for a further upside advance? DAX Index: Bullish technical conditions in the very short-term following the...

Skilling

Stock markets reverse downtrend and may have entered a “corrective” cycle Upcoming economic events Tuesday: US consumer confidence Wednesday: Bank of Canada interest rate decision Thursday: ECB interest rate decision Friday: US personal income and consumption Commentary: IBEX 35 Index: Strong very short-term upward momentum from the October 13th low,...

Skilling

Squeezed UK retail sales fell hard in September, higher cost of living hitting the pockets of consumers UK recent economic data highlights The drop in UK retail sales indicates that consumer spending slowed in September; actual -1.4% vs -0.3% forecast Highlights little signs UK household spending to pick up soon as higher prices push consumers to...