Trading News Events

Gold strength may continue in the near term as the Fed stands firm on their transient inflation outlook. Nevertheless, hotter-than-expected PCE figures on Friday pose a potential headwind to XAU/USD.

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The US Dollar (via the DXY Index) has dropped back as the calendar moved into mid-July on the back of declining Fed rate hike expectations and collapsing US Treasury yields.

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The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact.

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Oil fell last week after the United States and China appeared to coordinate efforts to fight high prices. Will potential SPR releases between the two superpowers put OPEC on the defense?

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Robinhood shares have lost more than half their value since the company’s IPO last summer.

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Shares of the popular streaming service are down over 40% this year.

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The price of gold slipped below the 50-Day SMA for the first time since February as it extends the decline from the monthly high ($1998), and the update to the US Personal Consumption Expenditure (PCE) Price Index may drag on bullion as the Federal Reserve’s preferred gauge for inflation is expected to downtick for the first time since August.

The H4 intra-day price is below 200 SMA by crossing 1936 support level to below for the primary bearish trend to be continuing with 1926 target to re-enter.

The daily price is breaking 50 SMA to below on open D1 bar for the possible secondary correction to be started within the primary daily bullish trend with the 1850 daily bearish reversal level.


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The Federal Reserve interest rate decision is likely to sway EUR/USD as the central bank is widely expected to normalize monetary policy at a faster pace.

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The Canadian Dollar is backed by one of the most aggressive central bank rate forecasts amongst the majors while growth forecasts are holding up pretty well. Despite that, the currency has generally performed well. Could this over-stretched optimism set the Loonie up for a reversal?

Daily price broke Ichimoku cloud to above for the primary bullish reversal: the price is on secondary ranging waiting for direction.

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After over a 13% fall year-to-date, at the current levels, we believe Honeywell stock (NYSE: HON) has more room for growth. But the daily price broke Ichimoku cloud to below for the primary bearish reversal: the price is testing Fibo level at 174 to below for the bearish trend to be continuing. Alternatively, the RSI indicator is showing for the oversold level for the daily price and the secondary ranging with possible bouncing to be above is more likely for the bear market rally to be started.

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