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Technical Analysis: Your Daily Dose of Market Insights, June 30, 2023

Market Insights:

1. Global equities experience slight decline amid concerns over rising interest rates and weakening economic indicators.

2. Japanese authorities face pressure as the yen weakens due to market expectations of maintaining ultra-low interest rates.

3. Uncertainties persist in the global economic outlook, with China's factory activity declining for a third consecutive month.

4. US economy shows resilience but intensifying yield curve inversion raises concerns of future recession risk.

5. Offshore yuan remains under scrutiny, reaching its lowest level against the dollar in seven months.

6. Australian and New Zealand sovereign bond yields increase, reflecting ongoing debate on central bank policies and their impact on bond markets.

7. Oil prices fluctuate amid global economic uncertainties and changing supply dynamics, impacting energy markets and investor sentiment.

8. The US dollar shows modest strength against major rivals, contributing to the overall dynamics of global trade and currency markets.


Key events today:

  • US personal income and spending, University of Michigan consumer sentiment,

  • Canadian GDP m/m

 

Dollar Index (DXY) Intraday:


Pivot Level: 103.19



Dollar Index , DXY , Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

Gold Intraday:


Pivot Level: 1904.78


Gold, XAU/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

Gold Price-Weekly Chart. Inverse Head & Shoulder.

XAU/USD Gold   Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

USD/JPY Intraday:


Pivot: 144.61

USD/JPY Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

AUD/USD Intraday:

Pivot: 0.6617


AUD/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

Crude Oil (WTI)‎ Intraday:


Pivot: 69.80


WTI, Crude oil Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

USD/CAD Intraday:


Pivot: 1.3260


USD/CAD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.
4 Hr Chart

USD/CAD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.
Daily Chart

EUR/USD Intraday


Pivot: 1.089


EUR/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

GBP/USD Intraday:


Pivot: 1.262

.

GBP/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI

EUR/GBP Intraday:


Pivot: 0.8625


EUR/GBP Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI

Based on Today's Fundamental and Technical Market Insights

 

Nasdaq 100 Intraday:


Pivot:

14,934.00

Nasdaq 100 stock index, Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI

Here's a simple explanation of a trading strategy for intraday trading that is general used.




Market Insights


The market insight provided does not constitute, in any way, a solicitation or inducement to buy or sell securities and similar products. Comments and analysis reflect the views of Chump Profit at any given time and are subject to change at any time. Moreover, they cannot constitute a commitment or guarantee on the part of Chump Profit. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely responsible. ©2023 by Chump Profit.


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