IC Markets

2021-07-08 08:56:00 #GOLD (Intraday perspective: Bearish below 1,810.00)
Gold consolidated sideways below 1,810 on Wednesday. We are seeing a medium-probability scenario where prices drop to retest support at 1,783, in-line with 50% and 61.8% Fibonacci retracement and 50MA. RSI is also indicating a bearish momentum in-line with our short-term bearish outlook. If prices break above the major resistance area at 1,815, it would swing toward our first resistance at 1,826.50, in-line with 61.8% Fibonacci retracement and 200% Fibonacci extension. Open / Comment

2021-07-08 08:55:25 #DXY Dollar held against a basket of currencies. Dollar shows more bullish signals as FOMC minutes revealed a more dovish Federal Reserve. The dollar could look to appreciate with the easing of concerns of investors about the Fed raising interest rates. Dollar Index held steady at 13-week highs of 92.6 as concerns on the Federal Reserve increasing interest rates soon are no longer valid after FOMC minutes. Open / Comment

2021-07-08 08:54:29 #Risk sentiment on Thursday is rather risk on due to the dovish Fed. Asian stocks opened steady Thursday, following gains for U.S shares and Treasuries as the Federal Reserve minutes showed policy makers still awaiting more evidence of a robust economic recovery to set a timeline for trimming bond purchases. Fed minutes showed that policymakers dd not want to commit to a schedule to reduce stimulus as yet. Open / Comment

2021-07-07 11:55:06 #insidejoke Open / Comment

2021-07-07 11:54:14 Join Desmond for a live analysis session in exactly 36 minutes!
https://attendee.gotowebinar.com/register/7162685352139226124 Open / Comment

2021-07-07 09:28:31 #UKOIL (Intraday perspective: Downside potential below 74.96)
Price dropped overnight and tested key 78.6% Fibonacci retracement level before bouncing. With technical indicators showing room for further bearish momentum, a short term drop below 74.96 resistance towards 74.12 support could be likely. Failure to hold below 74.96 resistance will see price swing the other way towards 75.94 resistance instead. Open / Comment

2021-07-07 09:27:48 #GOLD (Intraday perspective: Bearish below 1,815.00)
Gold pierced 1,815.40 resistance before facing bearish pressure to close at about 1,796 on Tuesday. We are seeing a low-probability scenario where prices drop to retest support at 1,783, in-line with 50% and 61.8% Fibonacci retracement and 50MA. If prices break above the major resistance area at 1,815, it would swing toward our first resistance at 1,826.50, in-line with 61.8% Fibonacci retracement and 200% Fibonacci extension. Open / Comment

2021-07-07 09:26:15 #DXY (Intraday perspective: Bullish pressure above 92.358)
Prices might take support on horizontal pullback support in line with 50% FIbonacci retracement and 50% Fibonacci extension. Prices might push up towards horizontal swing high resistance in line with 100% Fibonacci extension and 161.8% Fibonacci retracement. If prices push down, prices might take support on horizontal pullback support in line with 61.8% Fibonacci retracement and 100% Fibonacci extension. Ichimoku cloud is below prices, showing a bullish pressure for prices. Open / Comment

2021-07-07 09:25:40 #Risk sentiment early Wednesday is rather mixed. Asian stocks fell Wednesday and Treasuries held an advance as concern over the economic recovery from the pandemic, virus variants and China’s scrutiny of the technology sector sapped sentiment. Oil dropped towards $73 a barrel. The fall out of an OPEC crisis that stymied efforts to raise production has buffeted prices this week. Global stocks remain near all time high, inflationary pressures, reduced central bank stimulus and the spread of COVID-19 delta strain are potential risks. Open / Comment