IC Markets

2021-07-02 09:17:08 #DXY (Intraday perspective: Bullish pressure above 92.138)
Prices are facing bullish pressure from horizontal pullback support, 50% Fibonacci retracement and 61.8% Fibonacci extension. Prices might continue to push up towards 161.8% Fibonacci retracement and 78.6% Fibonacci extension Fibonacci confluence zone. If prices push down, prices might take support on horizontal swing low support in line with 127.2% Fibonacci extension and 50% Fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices. Open / Comment

2021-07-02 09:15:40 #Risk sentiment on Friday is rather mixed as investors wait for NFP results. Asian stocks rose Friday and positive COVID-19 vaccine developments and after strong economic data helped to send U.S shares to a record. Dollar held a climb and treasuries were little changed ahead of Friday’s monthly payrolls report, which will give investors clues on when the Fed might pull back on stimulation. Open / Comment

2021-07-01 08:58:21 #UKOIL (Intraday perspective: Downside potential below 74.94)
Price drifted higher overnight. With price holding above ascending trendline support, we see a medium probability bullish scenario where buyers will look to add to their longs above 74.45 support with 75.32 resistance as a possible target. Otherwise, failure to hold above 74.45 will see price drop lower towards next support at 74.02. Open / Comment

2021-07-01 08:57:38 #GOLD (Intraday perspective: Neutral between 1,790-1,760)
Gold price bounced back from 1,754 and is currently holding between 1,790 resistance and 1,760 support. With technical indicators giving mixed signals and there are no good levels for entry which offers reasonable risk to reward ratio, we prefer to remain neutral for now. Breaking above 1,790 resistance will see the price move higher. Breaking below 1,760 support will see price drop lower. Open / Comment

2021-07-01 08:56:12 #DXY (Intraday perspective: Bullish pressure above 91.902)
Prices are facing bullish pressure from horizontal pullback support, 61.8% Fibonacci retracement and 61.8% Fibonacci extension. Prices might continue to push up towards -27.2% Fibonacci retracement and 78.6% Fibonacci extension fibonacci confluence zone. If prices push down, prices might take support on horizontal swing low support in line with 100% Fibonacci extension and 50% Fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices. Open / Comment

2021-07-01 08:55:01 #Risk sentiment early Thursday is rather mixed as investors wait for NFP. Asian stocks were mixed Thursday amid a firmer dollar astraders weighed concerns about the more contagious delta strain of COVID-19 and looked ahead to a U.S payrolls report. Dollar held an advance, treasuries were steady and the NFP this Friday is going to show the progress of the economic recovery, helping to shape the expectations of when the Federal Reserve will taper stimulus. Open / Comment

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2021-06-30 09:12:23 #UKOIL (Intraday perspective: Downside potential below 74.94)
Price currently approaching 50% Fibonacci retracement and graphical overlap resistance at 74.94. With price holding below moving average, a short term intraday drop towards 74.02 support could be possible. Otherwise, failure to hold below 74.94 will see prices push higher towards 75.84 resistance instead. Open / Comment

2021-06-30 09:11:37 #GOLD (Intraday perspective: Bullish above 1,754.00)
Gold price fell as anticipated and found support at 1,754, in-line with our 78.6% and 100% Fibonacci extension. We are expecting the price to bounce to first resistance at 1,771.28, in-line with our 61.8%, 78.6% Fibonacci extension and 50MA. Stochastic is also at the level where previous bounces occurred. If the price drops from current level, it will swing towards our first support at 1,739, in-line with -27.2% Fibonacci retracement and 100% Fibonacci extension. Open / Comment