How does the chart structure for indices look at the moment?

Monica Kingsley Monicakingsley

As expected, S&P 500 declined into Powell, and then lifted off, giving one final stop hunt late in the day – lifting off, led not by tech, but tech earnings didn‘t stand in the way. So, what‘s to lead today, and how does the chart structure for indices look at the moment?

Much could be said about FOMC and what it did for the Dollar, I have to highlight yesterday‘s Bessent assurance the US wasn‘t intervening in the interests of BoJ, knocking down gold and lifting the dollar for a while.

Many moving parts that clients are benefiting from, covered in the premium Telegram channels and daily analytics. Get ready for another volatile day, and earnings are in focus, as regards what they do to price moves… will discuss it more tomorrow here (more client coverage by then).

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

EUR/USD loses the grip, returns to the 1.1900 region

EUR/USD now comes under a sudden bout of selling pressure, slipping back to the area of two-day lows near 1.1900 the figure on Thursday. The pair’s daily pullback comes on the back of the continuation of the rebound in the US Dollar as investors evaluate the Fed’s interest rate decision and rising geopolitical concerns.

GBP/USD drops to two-day lows near 1.3750

GBP/USD faces some increasing selling pressure, building on Wednesday’s losses and revisiting the 1.3750 zone on Thursday. Cable’s decline to two-day lows comes in response to the marked advance in the Greenback while traders have started to shift their focus to next week’s BoE gathering.

Gold melts, challenges $5,100

Gold accelerates its daily correction and retests the $5,100 region per troy ounce, turning negative for the day and fading the earlier bull run to all-time highs around $5,600. The precious metal’s steep sell-off comes on the back of the better tone in the Greenback and mixed US Treasury yields.