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Daily Pivots: (S1) 1.7805; (P) 1.7891; (R1) 1.7971; More… EUR/AUD edged higher to 1.7976 but retreated quickly again. Intraday bias remains neutral. On the upside, above 1.7976 will resume the rebound from 1.7561 towards 0.8160 resistance. On the downside, however, break of 1.7739 support will argue that the rebound has completed and turn bias back […]
The post EUR/AUD Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 180.17; (P) 180.52; (R1) 180.94; More… EUR/JPY is staying in consolidations below 181.98 and intraday bias remains neutral. Deeper retreat cannot be ruled out, but downside should be contained by 178.80 resistance turned support to bring another rally. On the upside, break of 181.98 will target 100% projection of 161.06 to 173.87 […]
The post EUR/JPY Daily Outlook appeared first on Action Forex.
The USDCAD fell yesterday after stalling at its rising 100-hour moving average, and an early-Asia bounce today failed beneath the 1.4105 swing area. That inability to extend higher invited sellers back in, pushing the pair below the 100-hour moving average and through the 1.4079 swing level. Momentum accelerated into a key support zone between 1.4060 and 1.40668, which also houses the rising 200-hour moving average at 1.40623. The low held just above that at 1.40665, and a rebound briefly reclaimed the 100-hour moving average before failing once again.
Price action is now caught between the 200-hour MA below (1.4062) and the 100-hour MA above (1.40966), with 1.4079 acting as a natural pivot in the middle. Until the pair can break decisively above the 100-hour MA to revive bullish momentum—or fall below the 200-hour MA to tilt the bias lower—traders are likely to continue probing this range, waiting for the next directional shove.
This article was written by Greg Michalowski at investinglive.com.
Tech Sector Rallies as Nvidia Leads, Google Stumbles
The US stock market saw a notable shift today, with the technology sector dominating the headlines. As the trading day unfolded, Nvidia emerged as a star performer, while Google faced some challenges, setting the stage for an intriguing day in the market.
📈 Technology Sector: Nvidia Lights the Way
📉 Communication Services: Google Faces Headwinds
🏦 Mixed Signs in Financials
🌍 Market Sentiments and Trends
Today’s market mood portrayed a nuanced picture. The technology sector’s vigor, spearheaded by Nvidia’s rally, suggests enduring investor enthusiasm despite challenges within specific stocks like Google. Conversely, the financial sector’s mixed results reflect continued caution in traditional banking and credit services.
💡 Strategic Recommendations
Investors should consider leveraging the positive momentum in the semiconductor sector, which appears to be a focal point for growth. Technology stocks, particularly those in cloud infrastructure like Oracle, may offer robust opportunities. Meanwhile, cautious attention to communication services, especially companies facing recent dips, might yield strategic entry points. Investors are advised to maintain diversification, given the mixed performance across sectors, and stay abreast of emerging news that could sway market dynamics.
For real-time updates and in-depth analyses, continue visiting InvestingLive.com to stay informed on various market aspects. 🌐📊
This article was written by Itai Levitan at investinglive.com.
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