Swissquote Bank Research Team
Swissquote Bank Ltd
DAX: Consolidation in place
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 13920.00
Our preference
Short positions below 13920.00 with targets at 13710.00 & 13580.00 in extension.
Alternative scenario
Above 13920.00 look for further upside with 14000.00 & 14110.00 as targets.
Comment
The RSI advocates for further decline.
S&P 500: Key resistance at 3743.00
Pivot (invalidation): 3743.00
Our preference
Short positions below 3743.00 with targets at 3722.00 & 3704.00 in extension.
Alternative scenario
Above 3743.00 look for further upside with 3756.00 & 3769.00 as targets.
Comment
The RSI is mixed to bearish.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
Recommended Content
Editors’ Picks
AUD/USD depreciates amid mixed Chinese data, stronger US Dollar
The AUD/USD continues to decline for the second consecutive session, trading around 0.6660. This is largely influenced by recent mixed economic data from China released on Friday. The Aussie dollar had already been under pressure after Australia's employment figures were released on Thursday, which presented a mixed picture.
EUR/USD slipped on Thursday after Greenback pares some losses
EUR/USD eased slightly on Thursday, falling back below 1.0880 as the Greenback broadly recovers losses from earlier in the week. The pair remains up for the trading week, but a late break for the US Dollar is on the cards as investors second-guess the Fed's stance on rate cuts.
Gold price loses momentum, with Fed speakers in focus
Gold price trades with a bearish bias on Friday after retreating from the nearly $2,400 barrier. The bullish move of precious metals in the previous sessions was bolstered by the softer-than-expected US inflation data in April, which triggered hope for rate cuts from the US Federal Reserve.
LINK price jumps 10% as Chainlink races toward tokenization of funds
Chainlink price has remained range-bound for a while, stuck between the $16.00 roadblock to the upside and $13.08 to the downside. However, in light of recent revelations, the token may have further upside potential.
April CPI: Worst good news ever
The monthly rise in prices based on the Consumer Price Index (CPI) came in slightly lower than projected, sending a wave of euphoria across the financial landscape. The consensus is cooling inflation puts Federal Reserve interest rate cuts back on the table.