Trading plan for July 25

It’s a forecast for July 25.

• The US dollar index has been failing to stick above $94.50. It needs additional support from economic data. However, no data will be released on Wednesday. As a result, if the index closes below $94.50 on Tuesday, there is a risk of the fall further down. The support will lie at $94. Otherwise, there will be chances that the index will move up to $95.

• Wednesday is an important day for the Australian dollar. CPI and trimmed mean CPI data will be out at 4:30 MT time. The forecast is mixed. If the actual data are greater than the forecast ones, the Australian dollar will be able to appreciate. Up to now, AUD/USD has been moving up. The pair has broken above the pivot point at 0.7390. If the pair is able to close above the pivot point, there are odds of the further rise to 0.7465 (50-day MA). If the data aren’t encouraging, the pair will be below the pivot point. The support lies at 0.7340. MAs are moving down that is a negative signal for the pair. The Australian dollar needs really strong economic data to be able to stick above the pivot point.

• The oil market has been recovering after a great plunge that happened last week. Both oil benchmarks are trading above the pivot points that is a positive signal for the further movements. However, economic data will determine the further direction of Brent and WTI. The crude oil inventories figure will be out at 17:30 MT time. Last week the data showed a surplus in the number of barrels held in inventory. It caused a further fall of the oil market. Therefore, if the actual data is greater than the forecast and shows a surplus again, Brent and WTI will suffer. Otherwise, they will be able to keep recovering.

Brent has been trading above the pivot point at $73.15. If the data is supportive, Brent will move to the resistance at $75.15. Otherwise, there are risks of the fall below $73.15. The support will lie at $71.

WTI has been trading above the pivot point at $67.25. However, 50-day and 100-day MAs keep the benchmark within the channel of $67.25-69. The economic data will be able to pull WTI up or down. In case of a decline in the data, the price will go up to the resistance at $71.75. Otherwise, the price will break below the pivot point and will move to the support at $63.65 (200-day MA).

Menyerupai

29.03.2024 10:39 Pasar Waspadai Rilis PCE AS Meski Sebagian Besar Libur Jumat Agung

Pasar saham Asia sebagian besar libur untuk Jumat Agung pada perdagangan Jumat (29/03/2024). Dolar AS juga menguat terhadap euro sebelum data inflasi utama AS

29.03.2024 03:42 AUDUSD Berbias Bearish di Tengah Risk-Aversion

Dolar Australia menguat tipis di awal perdagangan akhir pekan ini, namun masih dalam tren penurunan. Pasar diperkirakan sepi karena memperingati Jumat Agung. Dolar AS menguat karena data ekonomi AS menunjukkan ekspansi,

28.03.2024 08:13 Data Ekonomi Australia Melemah, Seiring Melemahnya Inflasi

Pasar saham Asia memiliki sentimen sideways dengan bias bearish pada perdagangan Kamis (28/03/2024), karena adanya sentimen ketidakpastian menjelang data indeks harga PCE AS..penjualan ritel Australia dirilis lebih kecil dari perkiraannya.

Berita terbaru

02.04.2024 07:03 Yen Terus Terpuruk Mendekati Level Terendah Multi-Dekade

Yen Jepang gagal memikat para investor pada perdagangan Selasa (02/04/2024) meski ada peluang atas kemungkinan intervensi dan..Sentimen penghindaran risiko masih berpotensi memberikan kekuatan pada safe-haven

01.04.2024 08:22 Sanggupkan Emas Berlama-lama di Puncak?

XAUUSD naik ke rekor tertinggi baru pada perdagangan Senin (01/04/2024), di tengah meningkatnya spekulasi penurunan suku bunga..melanjutkan kenaikan kuat minggu lalu hingga membentuk level puncak baru sepanjang masa

01.04.2024 07:11 Sebagian Pasar Masih Libur, Yen Stabil di Bawah 152

Pasar saham Asia sebagian masih libur dan sebagian lagi menguat pada perdagangan Senin (01/04/2024), karena optimisme data pabrikan Tiongkok mendukung..potensi intervensi otoritas Jepang terhadap yen Jepang diperkirakan berada di zona 152 – 155 yen.