EUR/USD 1.18705
0.031%
Gold 3694.66
0.131%
Oil 64.193
0.037%
USD/JPY 146.249
-0.136%
GBP/USD 1.36569
0.089%
GBP/JPY 199.736
-0.040%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Futures data from September 17th: Spot gold prices surged above the 3,700 mark overnight, with COMEX gold futures rising 0.23% to $3,727.50 per ounce, and SHFE gold futures closing up 0.19%. Expectations of a Federal Reserve rate cut, a weakening dollar, and geopolitical uncertainty are all contributing to golds performance. Focus is on the Federal Reserves September meeting and the subsequent Quarterly Economic Projections (SEP). The US dollar continued to weaken on Tuesday, with the US dollar index falling 0.74% to a low of 96.54, hitting a near two-month low. Furthermore, the dollar fell 0.9% against the euro, reaching its lowest level since September 2021. Regarding economic data, US retail sales for August, released on Tuesday, rose 0.6% month-over-month, exceeding expectations of a 0.2% increase. The previous reading was revised from 0.5% to 0.6%, demonstrating resilience in consumer spending. The Federal Reserve held its meeting early Thursday morning, and a rate cut is all but certain. With the US Presidents newly nominated Fed Governor, Milan, participating in the FOMC meeting, the published dot plot is expected to show a more dovish tone, with the number of rate cuts for 2025 expected to fluctuate between two and three. Furthermore, continued pressure from the White House on Powell and other governors is crucial. Concerns about the Feds independence may continue to exacerbate market volatility.According to the Wall Street Journal: Eli Lilly (LLY.N) will invest $5 billion to build a factory in Virginia, USA.Japanese Ministry of Finance: Japans exports to the United States fell 13.8% year-on-year in August; exports to the European Union increased 5.5% year-on-year in August.Japans seasonally adjusted merchandise trade account in August was -150.125 billion yen, compared with expectations of -341.3 billion yen and the previous value of -303 billion yen.Japans annualized rate of merchandise imports in August was -5.2%, in line with expectations of -4.2%. The previous value was revised from -7.50% to -7.40%.

S&P 500 Pulled Back to the 50 Day EMA

Cameron Murphy

Apr 07, 2022 10:38


微信截图_20220407103429.png

S&P 500 Technical Analysis

During Wednesday's trading session, the S&P 500 dropped down strongly to approach the 50 Day EMA. The 50 Day EMA gets a lot of attention, so it's not surprising that there's a little bit of a battle going on right now. Finally, the market is attempting to test the bottom of a bullish flag, so it will be fascinating to watch how this develops. 


It's still possible that we'll see bullish pressure if we recover from this region, but it's also clear that there's a lot of anxiety right now, so it's worth noting that this flag has to be verified at the bottom to turn things around.


The magnitude of the candlestick is now negative, but if we break it below the 50 Day EMA, the market may turn its attention to the 200 Day EMA. A break below the 200-day EMA would be a huge bearish indication, and the market might then go towards the 4200 area. If we turn around and rise from here, on the other hand, the bullish flag is still intact and might draw a lot of attention. 


The market is likely to move considerably higher if we can break over the top of the flag, but it will come down to liquidity more than anything else. Keep an eye on the Federal Reserve, because the more hawkish it sounds, the more Wall Street will erupt.

Suggestion