Markets Tumble After Stronger US Data
Stock markets took a hit once again in the New York session as another strong data print out of the US gave more credence to the ‘stronger for longer’ opinion on US rates that is permeating the market.
Monday 27th February 2023 : Technical Outlook and Review
Looking at the H4 chart, my overall bias for S&P500 is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect the price to continue heading towards the 1st support at 3898.00 where the overlap support intersects with the 78.6% Fibonacci line.
Friday 24th February 2023 : Asian markets breath a sigh of relief
The dollar index, which measures the safe-haven dollar against six peers, was hovering at 104.63, not too far from a seven-week high of 104.78. After trending lower in recent sessions, the price of crude oil showed a strong move back to the upside on Thursday, despite a bigger than expected increase in U.S. crude oil inventories.
Friday 24th February 2023 : Technical Outlook and Review
Looking at the H4 chart, my overall bias for USDJPY is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. To add confluence to this bias, price is also along an ascending trendline.
Thursday 23rd February 2023 : Japanese markets closed on account of Emperor’s birthday
The Australian stock market is modestly lower on Thursday, extending the losses in the previous two sessions, with the benchmark S&P/ASX 200 falling below the 7,300 level, following the mixed cues from Wall Street overnight, with weakness in mining and energy stocks amid tumbling commodity prices.
Thursday 23rd February 2023 : Technical Outlook and Review
Looking at the H4 chart, my overall bias for USDJPY is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect the price to continue heading towards the 1st resistance at 138.175, where the previous swing high is.
Wednesday 22nd February 2023 : Asian markets tiptoe thru the week
Global Markets: Asian Stock Markets : Nikkei down 1.34%, Shanghai Composite […]
Wednesday 22nd February 2023 : Technical Outlook and Review
Looking at the H4 chart, my overall bias for S&P500 is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect the price to continue heading towards the 1st support at 3973.25 which is the overlap support and slightly above where the 61.8% Fibonacci line is.
Tuesday 21st February 2023 : Asian markets lower on geopolitical cues
Global Markets: Asian Stock Markets : Nikkei down 0.19%, Shanghai Composite […]
