IC Markets

2021-06-30 09:08:55 #DXY (Intraday perspective: Bullish pressure above 91.902)
Prices are facing bullish pressure from horizontal pullback support, 50% Fibonacci retracement. Prices might 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 78.6% Fibonacci extension and 50% Fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices. Open / Comment

2021-06-30 09:07:35 #Risk sentiment early Wednesday is rather risk on. Asian stocks rose Wednesday after U.S shares closed at a record on economic optimism and signs that vaccines can counter a highly infectious coronavirus strain. Dollar held an advance. Dollar has firmed on haven demand due to Covid-19 cases increase. Treasuries were steady as traders digested the latest Fed comments. Stocks are up about 90% from the worst of the pandemic since March last year, facilitated by the rollout of vaccines. Overall, a more risk on sentiment is seen in the market with consumers waiting for the Non Farm Payroll this Friday on further clues about interest rates. Open / Comment

2021-06-29 09:07:37 #UKOIL (Intraday perspective: Downside potential above 74.94) 73.94 (tp)) 75.84 (alt)
Price broke below ascending trendline support, now resistance. With technical indicators showing room for further bearish momentum, we see a medium probability bearish scenario where price would face further bearish pressure below 74.94 resistance. Sellers may look for a potential profit level at 73.94 support. Otherwise, failure to hold below 74.94 will see price swing the other way towards 75.84 resistance instead. Open / Comment

2021-06-29 09:06:44 #GOLD (Intraday perspective: Bearish pressure below 1,780.00)
Gold price is consolidating sideways below 1,776 as investors await cues on the next movement. The price is coming under bearish pressure from the 50MA where we could potentially see the price move down to our first support at 1,754.00, in-line with our 78.6% and 100% Fibonacci extension. RSI is also indicating bearish momentum supporting our short-term outlook. If the price bounces back above 50MA, we could see the price retest 1,790.67, in-line with our 78.6% Fibonacci extension and horizontal overlap support. Open / Comment

2021-06-29 09:04:30 #DXY (Intraday perspective: Bullish pressure above 91.436)
Prices are facing bullish pressure from horizontal pullback support, 50% Fibonacci retracement. Prices might push up towards horizontal swing high resistance in line with 61.8% Fibonacci extension and 127.2% Fibonacci retracement. If prices push down further, prices might take support from horizontal pullback support in line with 78.6% Fibonacci retracement. EMA is also below prices, showing a bullish pressure for prices. Open / Comment

2021-06-29 09:03:33 #Risk sentiment on Tuesday is rather risk on. Asian stocks opened lower after reflation trade fizzled in the U.S amid new travel curbs in some parts of the world. Treasuries and the dollar were steady after gains. The Treasury yield curve flattened. Bitcoin was steady around mid $34,000. Global stocks are poised to close out their fifth quarterly advance amid a worldwide vaccine rollout , the debate over elevated valuations has returned. Open / Comment

2021-06-28 09:05:06 #UKOIL (Intraday perspective: Upside potential above 75.88)
Price holding above ascending trendline support. With technical indicators showing room for further bullish momentum, we see a medium probability bullish scenario where buyers will look to add to their longs above 75.88 support and look for a possible upside target at 76.95 resistance. Otherwise, failure to hold above 75.88 will see price swing the other way towards 75.11 support. Open / Comment

2021-06-28 09:03:57 #GOLD (Intraday perspective: Bearish pressure below 1,790.00)
Gold price tested 1,790.67, in-line with 78.6% Fibonacci extension, horizontal overlap resistance and 50MA where could potentially see the price face bearish pressure to our first support at 1,754.00, in-line with our 78.6% and 100% Fibonacci extension. If the price bounced from current level, we could see the price swing towards first resistance at 1,804.04, in-line with our 38.2% Fibonacci retracement and 161.8% Fibonacci extension. Open / Comment

2021-06-28 09:03:08 #DXY (Intraday perspective: Bullish pressure above 91.436)
Prices are facing bullish pressure from horizontal pullback support, 50% Fibonacci retracement and 127.2% Fibonacci extension. Prices might push up towards horizontal pullback resistance in line with 78.6% Fibonacci extension and -27.2% Fibonacci retracement. If prices push down further, prices might take support from horizontal pullback support in line with 78.6% Fibonacci retracement. EMA is also below prices, showing a bullish pressure for prices. Open / Comment

2021-06-28 09:01:53 #Risk sentiment on Monday is a bit more of a risk on sentiment. Asia stocks fluctuate at the open Monday with investors weighing the pace of economic recovery against more potent Covid-19 strains and central banks mulling stimulus reductions. Dollar and treasuries were steady. Cryptocurrencies will be closely watched after the U.K restricted an affiliate of crypto exchange Binance from doing business in the country. Bitcoin rose for a second day, trading in the mid-$30,000 range in the Asian morning on Monday. Open / Comment