Inflation in the Wholesale Price Index (WPI, an economic indicator that shows the variation in the prices of a set of goods that are traded in the wholesale marketing channel) arouses concern in the financial markets, causing the largest increase in a month in the United States 10-year bond. The debt yield suddenly increased by 10 basis points, reaching 4.295%.
In total, it has accumulated an increase of 20 points in 5 days, which means that the markets have reversed a rate decrease quickly. Expectations that the first rate cut will not occur even in June have increased from 25% to 40% in the last week, due to the persistence of inflation above 3% and the resistance to decline, defying the last tranche of reduction.
Here are three alternatives of interest to take into account:
QQQ (listed fund if which tracks the NASDAQ 100 index) – Bullish
| Aim: | Supporting indicators: | |
| ⌚Temporality: 1H | ✅EMA: With a downward slope | ���Resistance level: 442.15 |
| ���Target level: 448.70 | ✅RSI: Survival | ���Support level: 435.49 |
| ���️Target period: 10 days | ✅MACD: with bearish histogram |
Comment:
After losing the level of 443.61 the price has experienced a downward trend until reaching the support level of 435.49. Now there is a bullish turn, trying to recover the critical level of 440.43. If the price manages to break below the 435.49 area, it could continue its search towards the support of 433.61.
EURUSD – Bullish
| Aim: | Supporting indicators: | |
| ⌚Temporality: 1H | ✅EMA: With a downward slope | ���Resistance level: 1.08923 |
| ���Target level: 1.09629 | ✅RSI: Survival | ���Support level: 1.08794 |
| ���️Target period: 8 days | ✅MACD: with bearish histogram |
Comment:
EUR/USD recently broke the secondary psychological resistance level at 1.0850 and peaked at 1.0982 before pulling back. The stochastic indicator (an oscillator that allows you to identify trend reversals, price changes and buy and sell signals in the markets) shows an upward movement, suggesting that buyers are in control. Additionally, the oscillator has room to rise before signaling exhaustion among buyers. Likewise, the relative strength index (RSI) is in the oversold zone, indicating buying possibility, although it also points slightly upward.
GOLD – Bullish
| Aim: | Supporting indicators: | |
| ⌚Temporality: 1H | ✅EMA: Side slope | ���Resistance level: 1.08923 |
| ���Target level: 1.09629 | ✅RSI: Below 50 | ���Support level: 1.08794 |
| ���️Target period: 8 days | ✅MACD: with bullish histogram |
As tensions over a possible nuclear war between Russia and Ukraine intensify, safe-haven assets are gaining strength, and supportive indicators suggest favorable prospects for buyers in the case of gold. The resistance level at 2164.85 is projected to be broken so that it can continue its bullish movement and reach the target level of 2189.65. If not, it could test the support level at 2150.56.
#Trends #Euro #Nasdaq #gold
– 2024-04-27 21:40:02
