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May 22, 20231 min read

Technical Analysis:Your Daily Dose of Market Insights, May 22, 2023

Investors are feeling a sense of unease as equities and the dollar experienced a setback on Friday, triggered by unexpected Republican negotiators leaving the debt ceiling talks. However, the discussions appear to be back on track, as President Joe Biden is scheduled to meet with House Republican Speaker Kevin McCarthy later today. Optimism has returned to the market as share futures saw an increase, propelled by President Biden's optimistic statement about the anticipated improvement in relations with China in the near future. Additionally, investors eagerly await any potential advancements in the ongoing US debt-limit negotiations.

  • US debt ceiling: Joe Biden and Kevin McCarthy seek to break impasse read on

  • Morning Bid: Not so fast, debt ceiling bulls! read on

  • Oil slips as U.S. debt caution offset supply concerns read on

  • Wall Street is bullish on Chinese tech firms, even as recovery is uneven read more

Key events today.

  1. Eurozone consumer confidence, Monday

  2. Fed presidents speaking are James Bullard, Raphael Bostic and Thomas Barkin, Monday

 

Dollar Index (ICE)‎ intraday:

Pivot: 103.27


A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

Gold Intraday:


Pivot: 1971.47


Gold XAU/USD A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

USD/JPY Intraday:

Pivot: 138.03


USD/JPY A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

AUD/USD Intraday:

Pivot: 0.6647


AUD/USD A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

Crude Oil (WTI)‎ West Texas Intermediate:


Pivot: 71.99



WTI Crude oil, A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

USD/CAD Intraday:

Pivot: 1.3509


USD/CAD A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

EUR/USD Intraday:

Pivot: 1.080


EUR/USD A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

GBP/USD Intraday:

Pivot: 1.244


GBP/USD A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

EUR/GBP Intraday:


Pivot: 0.8680


EUR/GBP A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

Nasdaq 100 Intraday:


Pivot:

13813.94


Nasdaq 100 stock index A visually appealing bar chart representing the price movement of forex currency pairs over a 4-hour time frame. The chart displays green and red candles, symbolizing upward and downward price movements respectively. The overall trend is upward, indicated by the consecutive green candles. The chart also includes the moving average and Bollinger bands indicators, providing additional insights into price volatility and trend strength. The Relative Strength Indicator (RSI) is present, offering further analysis of the market conditions.

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