Welcome to this week's trading insights! Global markets are buzzing with optimism following significant developments in the U.S. Treasury. Donald Trump’s nomination of Scott Bessent as Treasury Secretary has been warmly received, lifting equities and bonds across the board.
Traders are adjusting their strategies amidst a mix of economic data and geopolitical uncertainties.
Here’s the lowdown on key market movements and actionable signals to guide your trades.
📊 Market Overview
The markets are experiencing a wave of positivity:
Equities and Bonds: Stocks in Japan, Korea, and India saw notable gains, while the U.S. 10-year Treasury yield dropped to 4.35%.
Commodities: Oil and gold continue to garner attention with mixed performances as traders weigh geopolitical risks.
Currencies: The dollar index has slipped, while the euro, yen, and pound are showing promising setups for traders.
This week's focus shifts to crucial economic indicators, including Japan's CPI, the FOMC meeting minutes, and New Zealand's rate decision.
📈 Actionable Forex and Commodity Signals
1. GBP/USD – Upside Potential
Pivot Point: 1.2540
🟢 Buy Above: 1.2540
🎯 Targets: 1.2625 & 1.2660
🔴 Sell Below: 1.2540
🎯 Targets: 1.2505 & 1.2485
Technical Note: RSI supports further upside.
2. USD/JPY – Bears in Control
Pivot Point: 154.75
🔴 Sell Below: 154.75
🎯 Targets: 153.90 & 153.40
🟢 Buy Above: 154.75
🎯 Targets: 155.00 & 155.25
Technical Note: Resistance at 154.75 remains critical.
3. EUR/USD – Heading Higher
Pivot Point: 1.0435
🟢 Buy Above: 1.0435
🎯 Targets: 1.0515 & 1.0540
🔴 Sell Below: 1.0435
🎯 Targets: 1.0410 & 1.0390
Technical Note: Bullish RSI underpins further gains.
4. Crude Oil (WTI) – Strengthening Trend
Pivot Point: 70.40
🟢 Buy Above: 70.40
🎯 Targets: 71.85 & 72.40
🔴 Sell Below: 70.40
🎯 Targets: 69.95 & 69.30
Technical Note: RSI shows bullish momentum.
5. Gold – Gains Persist
Pivot Point: 2695.00
🟢 Buy Above: 2695.00
🎯 Targets: 2725.00 & 2735.00
🔴 Sell Below: 2695.00
🎯 Targets: 2684.00 & 2675.00
Technical Note: RSI indicates potential for a bounce.
6. Silver (Perak) – Eyeing New Highs
Pivot Point: 31.10
🟢 Buy Above: 31.10
🎯 Targets: 31.63 & 31.85
🔴 Sell Below: 31.10
🎯 Targets: 30.90 & 30.75
Technical Note: RSI suggests further upside.
🌎 What to Watch This Week
Economic Events:
Japan: CPI and unemployment data could impact USD/JPY setups.
New Zealand: A potential rate cut by the RBNZ on Wednesday.
Europe: Eurozone economic and consumer confidence data.
U.S.: PCE data and FOMC meeting minutes could shape expectations for rate cuts.
Geopolitical Risks: Ongoing tensions in Ukraine and the Middle East may influence crude oil and gold prices.
Conclusion
This week offers ample opportunities for traders across Forex, commodities, and indices. With a mix of economic data releases and market optimism fueled by the Treasury pick, volatility is expected to remain high. Stay vigilant and keep an eye on key levels to make the most of the movements.
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