Economic Data
US June Existing Home Sales (10:00 ET): Will gauge housing demand resilience amid high mortgage rates. A weaker print may support rate cut expectations.
Eurozone July Consumer Confidence (Flash): Important for sentiment around ECB rate policy. Any downside surprise could weigh on the euro.
Central Banks
BoJ’s Uchida Speaks: Watch for any shift in...
The BTCUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 114,850 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 114,850 would confirm ongoing upside momentum, with potential targets at:
122,900 –...
Key Support and Resistance Levels
Resistance Level 1: 24490
Resistance Level 2: 24640
Resistance Level 3: 24780
Support Level 1: 23920
Support Level 2: 23790
Support Level 3: 23646
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is...
Key Developments:
Fed Politics: Treasury Secretary Scott Bessent called for a review of the Fed’s $2.5B HQ renovation, continuing political pressure on Jerome Powell. This adds to the uncertainty around Fed independence and rate path.
Meme Stock Surge:
Opendoor soared 121% amid a retail-driven frenzy.
Major institutional investors are also chasing the rally,...
The EURAUD remains in a bullish trend, with recent price action indicating a continuation breakout within the broader uptrend.
Support Zone: 1.7850 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 1.7850 would confirm ongoing upside momentum, with potential targets at:
1.8060 – initial...
The EURCHF pair is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the falling resistance, suggesting a temporary relief rally within the downtrend.
Key resistance is located at 0.9340, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish...
The EURUSD currency pair continues to exhibit a bullish price action bias, supported by a sustained rising trend. Recent intraday movement reflects a sideways consolidation breakout, suggesting potential continuation of the broader uptrend.
Key Technical Level: 1.1640
This level marks the prior consolidation range and now acts as pivotal support. A corrective...
The DAX remains in a bullish trend, with recent price action showing signs of a resistance breakout within the broader uptrend.
Support Zone: 24085 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 24085 would confirm ongoing upside momentum, with potential targets at:
24490 – initial...
Key Data Releases:
US:
Philadelphia Fed non-manufacturing activity – A pulse-check on services sector strength. Positive surprise could boost USD and Treasury yields.
Richmond Fed manufacturing & business conditions – Insight into regional factory health; any contraction signals broader economic weakness.
UK:
June Public Finances – Higher borrowing may raise...
Trend Overview:
The AUDUSD currency price remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 0.6465 (primary pivot), followed by 0.6445 and 0.6400
Resistance: 0.6570...
The USD/CHF pair is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the falling resistance, suggesting a temporary relief rally within the downtrend.
Key resistance is located at 0.8045, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish...
The Silver remains in a bullish trend, with recent price action showing signs of a continuation breakout within the broader uptrend.
Support Zone: 3686 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 3686 would confirm ongoing upside momentum, with potential targets at:
3814 – initial...
The Gold remains in a bullish trend, with recent price action showing signs of a continuation breakout within the broader uptrend.
Support Zone: 3308 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 3308 would confirm ongoing upside momentum, with potential targets at:
3387 – initial...
The EURGBP remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 0.8620 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 0.8620 would confirm ongoing upside momentum, with potential targets at:
0.8700 – initial...
The GBPAUD pair is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the previous support zone, suggesting a temporary relief rally within the downtrend.
Key resistance is located at 2.0660, a prior consolidation zone. This level will be critical in determining the next directional move.
A...
The GBPUSD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 1.3430 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 1.3430 would confirm ongoing upside momentum, with potential targets at:
1.3600 – initial...
The FTSE remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 8020 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 8920 would confirm ongoing upside momentum, with potential targets at:
9045 – initial...
Economic Data & Central Bank Updates
US Leading Economic Index (June)
Fell by 0.1%, pointing to ongoing weakness in manufacturing, jobs, and housing. Markets may view this as a soft growth signal, potentially influencing rate cut expectations.
China Loan Prime Rates (LPR)
No change: 1-year at 3.0%, 5-year at 3.5%. This steady stance follows slightly better Q2...
