US equity futures declined ahead of a meeting between President Joe Biden and House Speaker Kevin McCarthy on Tuesday. The US stock market had experienced gains on Monday amidst conflicting signals from both sides in the debt-ceiling negotiations.
Mexico's mighty peso hits 7-year record high against U.S. dollar read on
Asia stocks steady despite China data miss, helped by weaker dollar outlook read on
Oil rebounds as U.S. begins refilling strategic reserve read on
Berkshire invests in Capital One, sheds four stocks read more
The Week Ahead in Forex, Chump Profit read more
Key events today.
Eurozone GDP
US retail sales, industrial production, business inventories
Fed speakers include Cleveland’s Loretta Mester, New York’s John Williams, Atlanta’s Raphael Bostic and Chicago’s Austan Goolsbee
“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: Bearish
Pivot: 102.52
Our preference:
Short positions below 102.52 with targets at 102.29 & 102.15 & 101.92 in extension.
Alternative scenario:
Above 102.52 look for further upside with 102.66 & 102.89 & 103.03 as targets.
Comment:
Looking at the daily chart, our overall bias for Dollar Index is bearish as the price has now moving into the Ichimoku cloud on a downtrend. The RSI shows further downward momentum.
Gold Intraday: Bullish
Pivot: 2015.22
Our preference:
Long positions above 2015.22 with targets at 2023.25 & 2030.17 & 2038.20 in extension.
Alternative scenario:
Below 2015.22 look for further downside with 2008.30 & 2000.27 & 1993.35 as targets.
Comment:
Looking at the daily chart, our overall bias for XAU/USD is bullish as the current price is now headed above the Ichimoku cloud. The RSI shows upward momentum.
USD/JPY Intraday: Bullish
Pivot: 136.02
Our preference:
Long above 136.02 with targets at 136.43 & 136.74 & 137.15 in extension.
Alternative scenario:
Short positions below 136.02 look for further downside with 135.71 & 135.30 & 134.99 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. RSI indicates further upside momentum.
AUD/USD Intraday: Bearish
Pivot: 0.6684
Our preference:
Short below 0.6684 look for further downside with 0.6658 & 0.6614 & 0.6588 as targets.
Alternative scenario:
Long positions above 0.6684 with targets at 0.6728 & 0.6754 & 0.6798 in extension.
Comment:
Looking at the daily chart, our overall bias for AUDUSD is bearish as the price is below the Ichimoku cloud. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The RSI is heading for neutral.
Crude Oil (WTI)‎ West Texas Intermediate: : Bearish
Pivot: 71.04
Our preference:
Short positions below 71.04 look for further downside with 70.40 & 69.68 & 69.04 as targets.
Alternative scenario:
Long positions above 71.04 with targets at 71.76 & 72.40 & 73.12 in extension.
Comment:
Looking at the daily chart, our overall bias for WTI is bearish as the price is now below the Ichimoku cloud in a downtrend. The RSI shows further downward momentum.
USD/CAD Intraday: Bullish
Pivot: 1.3529
Our preference:
Long positions above 1.3529 with targets at 1.3599 & 1.3729 & 1.3799 in extension.
Alternative scenario:
Short positions below 1.3529 look for downside with 1.3399 & 1.3329 & 1.3199 as targets.
Comment:
Looking at the daily chart, our overall bias for USDCAD is bullish, as the current price is heading into the Ichimoku cloud. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The RSI is neutral.
EUR/USD Intraday: Bullish
Pivot: 1.087
Our preference:
Long positions above 1.087 with targets at 1.090 & 1.092 & 1.095 in extension.
Alternative scenario:
Short positions below 1.087 look for downside with 1.085 & 1.082 & 1.080 as targets.
Comment:
Looking at the daily chart, our overall bias for EUR/USD is bullish as the current price is heading into the Ichimoku cloud signifying a rebound. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The RSI is neutral.
GBP/USD Intraday: Bullish
Pivot: 1.250
Our preference:
Long positions above 1.250 look for further upside with 1.256 & 1.259 & 1.265 as targets.
Alternative scenario:
Short positions below 1.250 with targets at 1.247 & 1.241 & 1.238 in extension.
Comment:
Looking at the daily chart, our overall bias for GBPUSD is bullish as the current price is now above the Ichimoku cloud. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The RSI is neutral.
Nasdaq 100 Intraday: Bullish
Pivot:
13,377
Our preference:
Long positions above 13,377 with targets at 13,456 & 13,449 & 13,578 in extension.
Alternative scenario:
Below 13,377 look for further downside with 13,334 & 13,255 & 13,212 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. The RSI indicates further upward momentum.
For our Managed Forex Account Service , email jeannette@chumpprofit.com for contact.
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