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DXY: The DXY (US Dollar Index) chart currently demonstrates a bearish overall momentum, indicating a weaker stance for the US Dollar. This momentum suggests the potential for a bearish continuation towards the 1st support level. The 1st support at 101.77 is recognized as an overlap support and coincides with the 50% Fibonacci Retracement level. This […]

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06/09/2024

US: Despite Broader Growth Concerns, Service Sector Improves

Summary The services ISM notched a modest gain in August, quelling for now concerns about stalling growth. While the prices paid measure rose, the employment measure indicates a jobs market that is in a decidedly lower gear than it was as recently as earlier this year. ISM Rises to Three-Month High A run of lousy […]
02/08/2024

Bitcoin Fends Off Bear Attack, Clinging to Levels

Market picture The crypto market lost 0.75% in 24 hours to $2.29 trillion. A day earlier, we noted a decline in cryptocurrencies in contrast to the positivity in equities on Wednesday, and then synchronised selling prevailed on Thursday. Meanwhile, the sentiment index remains at 57 (greed). This is bad news for the market right now, […]

AUDUSD Declines to Fresh 2-month Low

AUDUSD extends retreat to its lowest since May 1 Oscillators are flagging oversold conditions AUDUSD has been in a steady retreat since July 11, violating both its 50- and 200-day simple moving averages (SMAs). Although the pair posted a fresh two-month low on Wednesday, the risk of a bounce to the upside has increased given that the […]