Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock market closed Thursday's trading with a decline amid negative dynamics from the commodities, oil and gas and technology sectors. The Dow Jones was down 0.94% at the close of trading on the New York Stock Exchange. S&P 500, H4 Pivot: 4135.00 Analysis: Provided that the index is traded below 4155.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 4135.00 Take Profit 1: 4118.00 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight Reuters released Fed Chairman Powell's response to Senator Rick Scott, who expressed concern about rising inflation and the Fed's buying program: Too low inflation hurts both households and companies; We don't plan to allow inflation to go substantially above 2% or inflation above that level for an extended time; Inflation will rise slightly higher this year, reflecting in part temporary factors amid an economic recovery; We don't expect inflation...
Source: PaxForex Premium Analytics Portal, Technical Insight Gold futures prices surged in U.S. trading on Wednesday. On COMEX, a division of the New York Mercantile Exchange, gold futures for June are trading at $1,793.15 per troy ounce, up 0.83%. At the moment of writing, gold had support at $1.740.10 and resistance at $1.798.25. GOLD/USD, 30 min Pivot: 1794.00 Analysis: Provided that the price is above 1782.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1794.00 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight USD/CAD dropped from the highs of the morning American session at 1.2653, shedding a figure and tested the level of 1.2500. At the moment of writing, the pair was trading around 1.2519, having lost 0.7% intraday and remaining under strong bearish pressure. The price collapse was triggered by the hawkish monetary policy verdict of the Bank of Canada. The central bank decided to change the size of the QE program. Volumes of weekly purchases of government bonds were reduced...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock market closed Tuesday's trading lower on the back of negative dynamics from the oil and gas, commodities and financial sectors. The NASDAQ Composite Index was down 0.92% at the close of trading on the New York Stock Exchange. Nasdaq 100, H4 Pivot: 13810.00 Analysis: Provided that the index is traded below 13935.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 13810.00 Take Profit 1: 13640.00...
