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Attachment 45465
Slowing economic growth in the UK and bets that the Bank of England will not be as aggressive as the Fed during its tightening cycle are likely to weigh on GBP/USD in the near term. The intra-day and the daily price is on bearish breakdown by crossing symmetric triangle pattern to below for the primary bearish trend to be continuing.
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Gold fell last week as traders moved out of risk assets, boosting the US Dollar to its strongest level since December 2002. The yellow metal faces a tough path if Greenback strength persists.
Attachment 45661
Daily price broke Ichimoku cloud to below for the primary bearish reversal: the price is crossing 1,821 support level to below for the bearish trend to be continuing with 1,799 target to re-enter.
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This could be attributed to a 2% drop in the consumer & community banking segment, followed by a 7% decrease in the corporate & investment banking division.
Attachment 45699
The weekly price is located below Ichimoku cloud in the bearish area of the chart. The price is trying to break the bearish triangle pattern with 118.90 support level to below for the bearish trend to be continuing with 115.39 level as the next target. Alternatively, if the price is bounce from the levels to above so the bearish ranging market condition will be started with possibility to the bear market rally with 143.93 possible lever to the weekly bullish reversal to be started.
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Attachment 45795
The Canadian Dollar may continue to pull back unless the BOC manages a convincing hawkish surprise at the upcoming monetary policy announcement. That looks like a tall order.
The daily price is trying to cross 100 SMA for the 200 SMA to below as the next target for the primary daily bearish reversal.
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Attachment 45869
Uber stock (NYSE: UBER) has declined by about 42% year-to-date trading near $25 per share, underperforming the broader S&P 500, which is down by about 14% over the same period. But the daily price is located below Ichimoku cloud in the bearish area of the chart by trying to break symmetric triangle pattern on the daily close bar for the rally to be started.
Conclusion: Bear Market Rally.
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Attachment 45908
The Euro is struggling to rise despite an increasingly hawkish European Central Bank as competition gets stiff between its major peers. Where to for EUR/USD with the Fed’s turn next?
Attachment 45909
Daily price is located far below 200 SMA on breaking the breaking the bearish triangle pattern to below for 1.0348 possible bearish target.
Conclusion: strong bearish trend to be continuing or the secondary ranging within the primary daily bearish.
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Sterling unphased by UK inflation and retail data. US PCE inflation data is due and both UK and US final GDP figures to have limited effect on the market, barring any drastic surprises.
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Attachment 46058
Capital One’s stock (NYSE: COF) has lost approximately 27% YTD, as compared to the 20% drop in the S&P500 over the same period.
The daily price is on secondary ranging within the primary bearish market condition to be lated far below Ichimoku cloud. Conclusion: bearish to be resumed or the ranging to be continuing.
The daily price is on secondary ranging within the primary bearish market condition to be lated far below Ichimoku cloud. Conclusion: bearish to be resumed or the ranging to be continuing.
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Attachment 46139
With major central banks still raising interest rates and inflation expectations receding, the environment remains difficult for gold prices. And the daily price is testing 1,736 fibo support level for the primary bearish trend to be continuing.
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Attachment 46172
Event Risk for the Week: UK unemployment, CPI Inflation. UK focused data appears via unemployment data followed by the unavoidable CPI inflation print which is expected to rise to 9.3% for June. The Bank of England still anticipates that inflation will hit double digits before peaking.
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