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DXY: For DXY (US Dollar Index), the potential direction is bearish, aligning with the overall bearish momentum of the chart. There’s a possibility of a bearish reaction off the pivot level, leading to a drop towards the 1st support. The pivot at 103.64 is significant, marked by an overlap resistance and the presence of the […]

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23/08/2024

Sunset Market Commentary

Markets European data today managed to temporarily steal attention away from the US. August PMI figures showed EMU business activity rising at a faster pace, but there’s more than meets the eye. The composite PMI ticked up to 51.2 (3-month high) whereas consensus expected a stabilization at 50.1. The EMU manufacturing remains deeply mired in […]
11/01/2024

Nikkei 225 Sets 21st Century High

As the chart shows, this morning the Nikkei 225 price exceeded 35,700, its highest level in decades. The Nikkei 225 index reached its all-time high on December 30, 1989, at 38,957.44 points. This was against the backdrop of Japan’s economic boom, which began in the 1980s and continued until the early 1990s. Nikkei 225 growth […]
23/04/2024

Strong Profit-Taking in Gold or Beginning of Reversal?

Gold is under pressure this week, having pulled back to the $2300 per troy ounce level. The decline since Friday’s close is over 3.7%. The formal trigger is a more moderate escalation in the Palestinian-Israeli conflict than expected at the beginning of the month. However, we view the current pullback as a welcome technical correction […]