Author: Omada Admin
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Hang Seng Index Technical Outlook: At Risk of Multi-Week Corrective Decline Within Major Bullish Trend
The major uptrend phase of the Hang Seng Index from January 2024 remains intact. Daily RSI momentum indicator suggested an overstretched rally where its medium-term uptrend may have reached a terminal point on 19 March. A multi-week corrective decline may take shape now, watch the 24,980 key medium-term resistance on the Hang Seng Index. Since…
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EUR/USD Faces Further Decline Amid Market Jitters and Trump’s Tariff Threat
The EUR/USD pair dropped to 1.0778 on Thursday, staging a modest correction but remaining under pressure amid deteriorating market sentiment. Key drivers weighing on EUR/USD The latest sell-off is driven by heightened trade war fears. On Wednesday, US President Donald Trump announced a 25% tariff on all imported cars and light trucks, set to take…
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Announcement of New Tariffs Boosts US Dollar
Yesterday, it was revealed that Donald Trump plans to introduce new 25% tariffs on cars not manufactured in the United States. This duty will be added to existing tariffs and is set to take effect on 2 April. The White House believes that these measures will support the US economy and, in the long term,…
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XNG/USD Analysis: Natural Gas Price Drops to March Low
On 27 January, our analysis of the natural gas chart highlighted the formation of an ascending channel. Later, on 10 March, we noted that the sharp price increase had created technical conditions for a correction. Since then, as indicated by the arrow on the XNG/USD chart, natural gas prices have declined by approximately 19%. Why…
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Dollar Outperformed on (or is it Despite?) Risk-Off
Markets Again no really congruent storyline to guide US and European markets yesterday. Equities on both sides of the Atlantic were captured in a risk-off modus as Trump’s Liberation Day tariff announcement was coming ever closer. The uncertainty, however, still resulted in a different performance between US and EMU interest rate markets. EMU (swap) yields…
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Here We Dive Again
Sentiment soured for both US, European and Asian markets. The US tech stocks were particularly hit – without a new catalyser. Investors continued to step out on tariff worries, and the worries got worse when Trump announced that he would impose 25% tariffs on auto imports… both finished cars and auto parts. GM, which was…
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Norges Bank Rate Decision on the Agenda
In focus today In the US, we will receive the second revision of GDP final. We do not anticipate a significant impact on market movements. In the euro area, monetary aggregates and credit data will be released. As the ECB continues its active discussions on restrictiveness of monetary policy – pivotal for rate decisions –…
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GBP/JPY Daily Outlook
Daily Pivots: (S1) 193.45; (P) 194.12; (R1) 194.77; More… Intraday bias in GBP/JPY remains neutral at this point. On the upside, above 194.97 will resume the rebound from 187.04 towards 198.94 resistance. On the downside, break of 192.00 support will turn bias back to the downside for 188.77 support. Overall, corrective pattern from 180.00 is…
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EUR/JPY Daily Outlook
Daily Pivots: (S1) 161.52; (P) 162.07; (R1) 162.49; More… Intraday bias in EUR/JPY remains neutral first, as consolidation continues below 164.16. Further rally remains in favor as long as 160.02 support holds. Above 164.16 will target 164.89 and then 166.67. On the downside, however, break of 160.02 will argue that rise from 154.77 has completed…
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EUR/AUD Daily Outlook
Daily Pivots: (S1) 1.7027; (P) 1.7097; (R1) 1.7144; More… Intraday bias in EUR/AUD remains mildly on the downside as correction from 1.7417 is extending lower. But downside should be contained by 1.6990 support to bring rebound. On the upside, above 1.7270 will bring retest of 1.7417 first. Break there will resume whole rise from 1.6335.…