Daily Forecast - 25 July 2017
Emini Dow Jones September contract
Emini Dow Jones failure to beat 21530 triggers a slide back to 21465/460 before the low last week at 21420/416. A break lower today targets strong support at 21365/355 for a buying opportunity with stops below 21295.
First resistance at 21525/535 but above 21550 sees us headed towards 21595 before the 21620/628 all time high....but we have major, major, MAJOR important 6 year trend line resistance at 21710/730. Nothing else matters this week!
S&P September contract
Emini S&P first support at 2466/65 before a buying opportunity at 2460/59, with stops below 2454. A break lower however sees 2459/60 act as resistance to target 2450/49.
Above 2470 allows a retest of the new all time high at 2476.25. Further gains target 2478/79 before strong trend line resistance at 2495/99.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
AUD/USD dips below 0.6600 following RBA’s decision
The Australian Dollar registered losses of around 0.42% against the US Dollar on Tuesday, following the RBA's monetary policy decision to keep rates unchanged. However, it was perceived as a dovish decision. As Wednesday's Asian session began, the AUD/USD trades near 0.6591.
EUR/USD edges lower to near 1.0750 after hawkish remarks from a Fed official
EUR/USD extends its losses for the second successive session, trading around 1.0750 during the Asian session on Wednesday. The US Dollar gains ground due to the expectations of the Federal Reserve’s prolonging higher interest rates.
Gold wanes as US Dollar soars, unfazed by lower US yields
Gold price slipped during the North American session, dropping around 0.4% amid a strong US Dollar and falling US Treasury bond yields. A scarce economic docket in the United States would keep investors focused on Federal Reserve officials during the week after last Friday’s US employment report.
Solana FireDancer validator launches documentation website, SOL price holds 23% weekly gains
Solana network has been sensational since the fourth quarter (Q4) of 2023, making headlines with a series of successful meme coin launches that outperformed their peers.
Living vicariously through rate cut expectations
U.S. stock indexes made gains on Tuesday as concerns about an overheating U.S. economy ease, particularly with incoming economic reports showing data surprises at their most negative levels since February of last year.