Daily Technical Analysis of Gold,Currencies,and Indices14/8/2024
Daily Technical Analysis of Gold,Currencies,and Indices14/8/2024
Introduction:
Welcome, I’m Mohammed Qais Abdulghani, a financial markets expert. In today’s daily technical analysis, we will take a look at the major currency pairs, commodities, and indices. The analysis focuses on important economic data expected to be released today, such as the Reserve Bank of New Zealand’s interest rate decision, the UK’s Consumer Price Index, the Eurozone’s Gross Domestic Product, and the US Core Consumer Price Index, along with the US crude oil inventory report.
US Dollar Index (DXY) Analysis:
The US Dollar Index (DXY) has dropped below the 103 level, influenced by weak US economic data. If this decline continues and the break below 103 is confirmed, the dollar may head toward the 101.500 level in the short term.
EUR/USD Analysis:
The EUR/USD pair maintains its positive trading above the 1.0900 level, supporting expectations for further upside towards 1.1000 and 1.1050.
GBP/USD Analysis:
The GBP/USD pair continues its rise, targeting levels of 1.2900 and 1.3500, while the USD/JPY pair remains trading below its key resistance level.
USD/JPY Analysis:
The USD/JPY pair is trading below the 149 yen resistance level, indicating a bearish trend targeting 145 yen and 140 yen levels.
USD/CHF Analysis:
The USD/CHF pair remains under selling pressure, with a bearish outlook targeting levels of 0.85 and 0.82500.
AUD/USD Analysis:
The AUD/USD pair remains stable above the 0.65 level, supporting a bullish outlook. However, strong upward momentum is expected only after surpassing the 0.667 level.
NZD/USD Analysis:
The NZD/USD pair is taking advantage of the US Dollar Index’s decline, and with a break above the 0.600 level, the pair may resume its upward trend, targeting the 0.62 level.
USD/CAD Analysis:
The USD/CAD pair benefits from the recovery in crude oil prices, but may enter a downward phase if prices remain below the 1.37500 level.
GBP/JPY Analysis:
The GBP/JPY pair attempts to reduce losses, but the overall scenario remains bearish unless the 184 yen level is broken.
EUR/JPY Analysis:
The EUR/JPY pair remains under pressure, with potential declines towards 158 and 152 yen levels if the 166 yen level is broken.
EUR/GBP Analysis:
The EUR/GBP pair faces resistance at the 0.85500 level, and a break below this level could lead to a bearish move towards 0.84500.
USD/TRY Analysis:
The USD/TRY pair, after surpassing the 33.5 Turkish lira level, may see a bullish move targeting 34 and 35 lira levels.
Bitcoin (BTC/USD) Analysis:
Bitcoin faces strong resistance at the psychological level of $60,000. If prices successfully break this level, we may see a rally towards $68,000 and $75,000.
Ethereum (ETH/USD) Analysis:
Ethereum is attempting to recover previous losses, with a potential rise if it can break the $2,800 level.
Ripple (XRP/USD) Analysis:
Ripple has stabilized above the $0.55 level, with potential upside targets of $0.75 and $1 in the medium term.
Gold Analysis:
Gold remains positive above the $2400 level. A break above $2460 could push prices towards $2520 and $2600, with ongoing monitoring of US economic data and geopolitical tensions.
Oil Analysis:
Oil prices remain stable above $77, supporting the possibility of a rise towards $80 and $83.
Silver Analysis:
Silver maintains stability above the $27.5 level, reinforcing the bullish outlook towards $29 and $30.5.
Natural Gas Analysis:
Natural gas struggles to break the $2.20 cent level, and if prices fall below this level, a bearish trend towards $1.60 cent may emerge.
Dow Jones Analysis:
The Dow Jones Industrial Average aims to end corrections and resume gains, potentially rising if it breaks above the 40,000-point level.
S&P 500 Analysis:
The S&P 500 Index remains steady at the 5280-point level, with potential targets of 5500 and 5800 points if it maintains this support.
NASDAQ 100 Analysis:
The NASDAQ 100 Index has broken the 18,250-point level and is on track to target 19,250 and 20,250 points.
Russell 2000 Analysis:
The Russell 2000 Index attempts to recover previous losses, with a potential bullish move if it breaks the 2,500-point level.
FTSE Analysis:
The FTSE 100 Index has returned to the 8150-point level, with a potential target of 8450 points.
DAX Analysis:
The DAX Index remains stable, with a potential rise towards the 18,200-point level if it holds above 17,600 points.
CAC Analysis:
The CAC 40 Index in France is attempting to stay above the 7200-point level, with a potential rise towards 7600 points to recover previous losses.
Nikkei Analysis:
The Nikkei 225 Index in Japan could resume its upward trend if it breaks the 37,000-point level, potentially targeting 41,000 points.
Introduction:
Welcome, I’m Mohammed Qais Abdulghani, a financial markets expert. In today’s daily technical analysis, we will take a look at the major currency pairs, commodities, and indices. The analysis focuses on important economic data expected to be released today, such as the Reserve Bank of New Zealand’s interest rate decision, the UK’s Consumer Price Index, the Eurozone’s Gross Domestic Product, and the US Core Consumer Price Index, along with the US crude oil inventory report.
US Dollar Index (DXY) Analysis:
The US Dollar Index (DXY) has dropped below the 103 level, influenced by weak US economic data. If this decline continues and the break below 103 is confirmed, the dollar may head toward the 101.500 level in the short term.
EUR/USD Analysis:
The EUR/USD pair maintains its positive trading above the 1.0900 level, supporting expectations for further upside towards 1.1000 and 1.1050.
GBP/USD Analysis:
The GBP/USD pair continues its rise, targeting levels of 1.2900 and 1.3500, while the USD/JPY pair remains trading below its key resistance level.
USD/JPY Analysis:
The USD/JPY pair is trading below the 149 yen resistance level, indicating a bearish trend targeting 145 yen and 140 yen levels.
USD/CHF Analysis:
The USD/CHF pair remains under selling pressure, with a bearish outlook targeting levels of 0.85 and 0.82500.
AUD/USD Analysis:
The AUD/USD pair remains stable above the 0.65 level, supporting a bullish outlook. However, strong upward momentum is expected only after surpassing the 0.667 level.
NZD/USD Analysis:
The NZD/USD pair is taking advantage of the US Dollar Index’s decline, and with a break above the 0.600 level, the pair may resume its upward trend, targeting the 0.62 level.
USD/CAD Analysis:
The USD/CAD pair benefits from the recovery in crude oil prices, but may enter a downward phase if prices remain below the 1.37500 level.
GBP/JPY Analysis:
The GBP/JPY pair attempts to reduce losses, but the overall scenario remains bearish unless the 184 yen level is broken.
EUR/JPY Analysis:
The EUR/JPY pair remains under pressure, with potential declines towards 158 and 152 yen levels if the 166 yen level is broken.
EUR/GBP Analysis:
The EUR/GBP pair faces resistance at the 0.85500 level, and a break below this level could lead to a bearish move towards 0.84500.
USD/TRY Analysis:
The USD/TRY pair, after surpassing the 33.5 Turkish lira level, may see a bullish move targeting 34 and 35 lira levels.
Bitcoin (BTC/USD) Analysis:
Bitcoin faces strong resistance at the psychological level of $60,000. If prices successfully break this level, we may see a rally towards $68,000 and $75,000.
Ethereum (ETH/USD) Analysis:
Ethereum is attempting to recover previous losses, with a potential rise if it can break the $2,800 level.
Ripple (XRP/USD) Analysis:
Ripple has stabilized above the $0.55 level, with potential upside targets of $0.75 and $1 in the medium term.
Gold Analysis:
Gold remains positive above the $2400 level. A break above $2460 could push prices towards $2520 and $2600, with ongoing monitoring of US economic data and geopolitical tensions.
Oil Analysis:
Oil prices remain stable above $77, supporting the possibility of a rise towards $80 and $83.
Silver Analysis:
Silver maintains stability above the $27.5 level, reinforcing the bullish outlook towards $29 and $30.5.
Natural Gas Analysis:
Natural gas struggles to break the $2.20 cent level, and if prices fall below this level, a bearish trend towards $1.60 cent may emerge.
Dow Jones Analysis:
The Dow Jones Industrial Average aims to end corrections and resume gains, potentially rising if it breaks above the 40,000-point level.
S&P 500 Analysis:
The S&P 500 Index remains steady at the 5280-point level, with potential targets of 5500 and 5800 points if it maintains this support.
NASDAQ 100 Analysis:
The NASDAQ 100 Index has broken the 18,250-point level and is on track to target 19,250 and 20,250 points.
Russell 2000 Analysis:
The Russell 2000 Index attempts to recover previous losses, with a potential bullish move if it breaks the 2,500-point level.
FTSE Analysis:
The FTSE 100 Index has returned to the 8150-point level, with a potential target of 8450 points.
DAX Analysis:
The DAX Index remains stable, with a potential rise towards the 18,200-point level if it holds above 17,600 points.
CAC Analysis:
The CAC 40 Index in France is attempting to stay above the 7200-point level, with a potential rise towards 7600 points to recover previous losses.
Nikkei Analysis:
The Nikkei 225 Index in Japan could resume its upward trend if it breaks the 37,000-point level, potentially targeting 41,000 points.
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