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Daily Pivots: (S1) 1.3313; (P) 1.3350; (R1) 1.3394; More… Outlook in GBP/USD is unchanged. Intraday bias remains neutral and fall from 1.3725 could extend lower. Break of 1.3247 will target 1.3140 cluster (38.2% retracement of 1.2099 to 1.3787 at 1.3142). Strong support is expected there to contain downside to complete the corrective pattern from 1.3787. […]
The post GBP/USD Mid-Day Outlook appeared first on Action Forex.
Major US stock indices are modestly higher to start the new trading day. The Dow industrial average is up 0.10%. The S&P index is up 0.19%, and the NASDAQ index is up 0.14%. The small-cap Russell 2000 is leading with a gain of 0.65% after a couple of harsh days to the downside.
Tesla shares are trading down 4.18% after missing on EPS and revenues. IBM shares are lower despite beating on the top and bottom line. Shares are currently down -5.27%.
This article was written by Greg Michalowski at investinglive.com.
Gold is rebounding today after two straight days of sharp declines, trading up $46 (+1.13%) at $4,145. The session high reached $4,149.86, while the low touched $4,066.17.
Yesterday, the metal dropped for a second consecutive session, finding support near $4,004—just above the key psychological level at $4,000. That low held well above the 38.2% retracement of the rally from the late-July low at $3,955.77, which remains a critical support marker.
For sellers to regain control, a sustained move below $3,955.77 would be required. Until then, the broader uptrend remains technically intact.
This article was written by Greg Michalowski at investinglive.com.
Kuwaiti oil minister is on the wires saying that OPEC is ready to offset any shortage of the market by rolling back the output cuts. The price of crude oil has moved lower on the news and currently trades up around $2.85 at $61.35. The high price today was at $62.12. The low price was at $59.64.
Looking at the daily chart, the price rises today took the price above a swing area between $59.78 and $60.10 and onto the next swing area between $61.45 and $61.94. The price I did extend briefly above the high of that swing area but is now trading lower and testing the low of the swing area at $61.45. Move back below that level could see more selling momentum.
This article was written by Greg Michalowski at investinglive.com.
The Trump administration is raising the tariff rate quota for Argentina to 80K metric tons of beef from 20K. The goal is to reduce the price of beef to the US consumer.
Eat mor beef. The chickens like that idea.
This article was written by Greg Michalowski at investinglive.com.
Super MicroComputers (SMCI) is reporting that it sees Q1 sales at $5 billion versus expected $6.518 billion. Reiterated 2046 sales view of at least $33 billion.
Shares of super microcomputers are currently trading down close to 7% in premarket trading.
This article was written by Greg Michalowski at investinglive.com.
Daily Pivots: (S1) 1.1584; (P) 1.1603; (R1) 1.1629; More… Outlook in EUR/USD is unchanged. Intraday bias stays neutral, and further decline is expected with 1.1727 resistance intact. Break of 1.1540 will resume the fall from 1.1917 to 1.1390 support, or even further to 38.2% retracement of 1.0176 to 1.1917 at 1.1252. On the upside, though, […]
The post EUR/USD Mid-Day Outlook appeared first on Action Forex.
Oil prices surged today, emerging as the clear focus in otherwise subdued global markets, as geopolitical tensions flared again following a fresh wave of Western sanctions against Russia. The U.S. announced new measures targeting energy giants Rosneft and Lukoil, accusing Moscow of prolonging the conflict in Ukraine. The decision reignited fears of tighter global supply, […]
The post Geopolitics Back in Play as Oil Surges on Fresh Sanctions Against Russia appeared first on Action Forex.
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