European shares look poised to rally after a wave of optimism that a U.S. debt ceiling deal could be reached as soon as the weekend, which lifted stocks on Wall Street and in Asia.
Biden, McCarthy push forward towards deal on US debt ceiling read on
Asian stocks follow Wall Street higher amid debt ceiling optimism read on
Oil prices ease on caution over US debt ceiling talks read on
Dollar firms on optimism over US debt ceiling talks, Aussie down after data read more
Stocks surge as earnings, debt-ceiling talks stay in focus read more
Morning Bid: Get ready for the debt ceiling rally read more
Key events today.
US initial jobless claims, Conference Board leading index, existing home sales
“Intraday forex trading signals". Our top forex trades for today, we look at the technicals and fundamentals to generate profits daily on the most traded correlated assets in the world.
Dollar Index (ICE)‎ intraday: Bullish
Pivot: 102.84
Our preference:
Above 102.84 look for further upside with 103.15 & 103.41 & 103.72 as targets.
Alternative scenario:
Short positions below 102.84 with targets at 102.58 & 102.27 & 102.01 in extension.
Comment:
Looking at the Daily Chart, our overall bias for Dollar Index is bullish as the price is now heading above the Ichimoku cloud indicating an upward trend. The RSI shows further upward momentum.
Gold Intraday: Bearish
Pivot: 1983.15
Our preference:
Below 1983.15 look for further downside with 1973.34 & 1965.17 & 1955.36 as targets.
Alternative scenario:
Long positions above 1983.15 with targets at 1991.32 & 2001.13 & 209.30 in extension.
Comment:
Looking at the Daily Chart, our overall bias for XAU/USD is bearish as the current price is now heading into the Ichimoku cloud in a downtrend. The RSI shows further downward momentum.
USD/JPY Intraday: Bullish
Pivot: 137.24
Our preference:
Long above 137.24 with targets at 138.16 & 138.64 & 139.56 in extension.
Alternative scenario:
Short positions below 137.24 look for further downside with 136.76 & 135.84 & 135.36 as targets.
Comment:
Looking at the Daily Chart, our overall bias for USDJPY is bullish as the current price is above the Ichimoku cloud indicating an uptrend. While further consolidation may occur, its scope will likely be restricted. The RSI indicates further upside momentum.
AUD/USD Intraday: Bearish
Pivot: 0.6654
Our preference:
Short below 0.6654 look for further downside with 0.6633 & 0.6608 & 0.6587 as targets.
Alternative scenario:
Long positions above 0.6654 with targets at 0.6679 & 0.6700 & 0.6725 in extension.
Comment:
Looking at the Daily Chart, our overall bias for AUDUSD is bearish as the price is below the Ichimoku cloud. The RSI shows renewed downward momentum.
Crude Oil (WTI)‎ West Texas Intermediate: : Choppy
Brokers note:
Currently, the influence of fundamental news on oil prices is greater than that of technical analysis.
Pivot: 72.37
Our preference:
Short positions below 72.37 look for further downside with 71.47 & 70.12 & 69.22 as targets.
Alternative scenario:
Long positions above 72.37 with targets at 73.72 & 74.62 & 75.97 in extension.
Comment:
Looking at the Daily Chart, our overall bias for WTI is bearish as the price is below the Ichimoku cloud. While further consolidation may occur, its scope will likely be restricted. The RSI is neutral.
USD/CAD Intraday: Bearish
Pivot: 1.3478
Our preference:
Short positions below 1.3478 look for downside with 1.3417 & 1.3378 & 1.3317 as targets.
Alternative scenario:
Long positions above 1.3478 with targets at 1.3517 & 1.3578 & 1.3617 in extension.
Comment:
Looking at the Daily Chart, our overall bias for USDCAD is bearish, as the current price is now below the Ichimoku cloud. While further consolidation may occur, its scope will likely be restricted. The RSI is neutral.
EUR/USD Intraday: Bearish (Tight Range)
Pivot: 1.084
Our preference:
Short positions below 1.084 look for downside with 1.081 & 1.078 & 1.074 as targets.
Alternative scenario:
Long positions above 1.084 with targets at 1.087 & 1.091 & 1.094 in extension.
Comment:
Looking at the Daily Chart, our overall bias for EUR/USD is bearish as the current price is heading below the Ichimoku cloud in a downtrend. The RSI shows further downside.
GBP/USD Intraday: Bearish Bias (Tight Range)
Pivot: 1.247
Our preference:
Short positions below 1.247 with targets at 1.244 & 1.238 & 1.235 in extension.
Alternative scenario:
Long positions above 1.247 look for further upside with 1.253 & 1.256 & 1.262 as targets.
Comment:
Looking at the Daily Chart, our overall bias for GBPUSD is bearish as the current price is heading into the Ichimoku cloud indicating a downtrend. While further consolidation may occur, its scope will likely be restricted. The RSI shows downward momentum.
EUR/GBP Intraday: Bearish (Tight Range)
Pivot: 0.8690
Our preference:
Short positions below 0.8690 with targets at 0.8659 & 0.8637 & 0.8606 in extension.
Alternative scenario:
Long positions above 0.8690 look for further upside with 0.8712 & 0.8743 & 0.8765 as targets.
Comment:
Looking at the Daily Chart, our overall bias for EURGBP is bearish as the current price is below the Ichimoku cloud indicating a downtrend. While further consolidation may occur, its scope will likely be restricted. The RSI is neutral.
Nasdaq 100 Intraday: Bullish
Brokers note:
The resolution of the debt ceiling crisis will have a significant and immediate positive impact on stock prices, causing them to surge rapidly.
Pivot:
13,538
Our preference:
Long positions above 13,538 with targets at 13,658 & 13,727 & 13,847 in extension.
Alternative scenario:
Below 13,538 look for further downside with 13,469 & 13,350 & 13,280 as targets.
Comment:
Looking at the Daily Chart, our overall bias for Nasdaq 100 is bullish as the current price is above the Ichimoku cloud in an uptrend. The RSI indicates further upward momentum.
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