Dollar Index (DXY): One More Bullish Movement
Yesterday, I predicted a nice pullback on Dollar Index.
It looks like today, we have one more.
The price testing a key intraday/daily horizontal support
and formed a double bottom on that.
Bullish violation of its neckline may push the market higher.
Goal - 107.1
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Indexes
$USIRYY -U.S CPI (November/2024)ECONOMICS:USIRYY
(November/2024)
source: U.S. Bureau of Labor Statistics
"US Inflation Rate Rises to 2.7%, Matching Expectations "
-The annual inflation rate in the US rose to 2.7% in November,
from 2.6% in October and matching markets expectations pushed up by food cost.
On a monthly basis, the CPI increased by 0.3%, the most since April, slightly above October's 0.2%, driven mostly by higher prices of shelter.
SPY/S&P500: in the mid-term resistance zonePrice has approached the upper border of the mid-term resistance zone: 598-612.
Until price closes bellow 612, I am preparing for the start of a correction to mid-term support: 564-540.
If price moves confidently above 612, than next resistance target is at 635 level.
The macro-structure of the uptrend from 2022 lows is well intact until price holds above 540 level and assumes higher targets for 2025 at 635-640-670 levels.
I wish everyone Merry Christmas and successful and profitable 2025!
Thank you for your attention.
Dollar Index (DXY): Time to Fill the Gap?!
I guess you saw this gap down that was formed this night on Dollar Index.
Analysing a price action today, it looks like the market is preparing to fill it.
I see a nice bearish trap and inducement followed by a bullish imbalance
on an hourly.
I think that the index will go up to the gap opening level soon.
Goal - 106.11
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S&P500 INDEX (US500): One More Bullish Confirmation
S&P500 leaves one more bullish clue after a recent test of a daily support.
This time, the price managed to violate a resistance line of a falling
parallel channel.
With a high probability, the index will reach 5954 level soon.
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s&p weeklyS&P weekly
Is one of the famous index of the New York Stock Exchange
This wave of movement has been the last 1 year of this index since November last year
As can be seen,
it has begun to move near the floor of a 4 -year -old channel
And it is passing through the Fibonacci level of 0.786.
5 of 5
or ending diagonal
(Crazy wave)
That can be a small 5 wave
I am currently moving up to 6300
The motion that started from 4100
50 % return on 1 year.
S&P500 INDEX (US500): Your Trading Plan Explained
S&P500 index is testing a recently broken daily horizontal resistance.
With a high probability, it turned into support.
To buy the market with a confirmation, pay attention to a double bottom
pattern on a 4H.
If the price breaks and closes above 5899, it will give us a strong bullish confirmation.
The market will go up at least to 5954 level then.
If the price drops lower and sets a new lower low, the setup will be invalid.
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$GBINTR -B.o.E Cuts RatesECONOMICS:GBINTR
(November/2024)
source: Bank of England
-The Bank of England lowered its key interest rate by 25 bps to 4.75%, in line with expectations, following a hold in September and a quarter-point cut in August.
The U.S Fed ECONOMICS:USINTR is also expected to cut rates by 25bps today, following a larger 50bps reduction in September.
Traders are keen for signals on future policy, particularly after Trump’s re-election.
-United States PCE (October/2024)$USCPCEPEPIMM 0.3%
(October/2024)
source: U.S. Bureau of Economic Analysis
-The US core PCE price index, the Federal Reserve’s preferred gauge to measure underlying inflation, rose by 0.3% from the previous month in September of 2024, the highest gain in five months, following an upwardly revised 0.2% increase in August, matching market forecasts. Service prices rose by 0.3%, while goods prices decreased 0.1%.
Year-on-Year, core PCE prices rose 2.7%, the same as in August, but above forecasts of 2.6%. source: U.S. Bureau of Economic Analysis
$EUIRYY -Europe's Inflation Rate (October/2024)ECONOMICS:EUINTR 2%
(October/2024)
+0.3%
source: EUROSTAT
-Annual inflation in the Euro Area accelerated to 2% in October 2024, up from 1.7% in September which was the lowest level since April 2021, and slightly above forecasts of 1.9%, according to preliminary estimates.
This year-end increase was largely expected due to base effects, as last year’s sharp declines in energy prices are no longer factored into annual rates.
Inflation has now reached the European Central Bank’s target.
In October, energy cost fell at a slower pace (-4.6% vs -6.1%) and prices rose faster for food, alcohol and tobacco (2.9% vs 2.4%) and non-energy industrial goods (0.5% vs 0.4%).
On the other hand, services inflation steadied at 3.9%.
Meanwhile, annual core inflation rate which excludes prices for energy, food, alcohol and tobacco was unchanged at 2.7%, the lowest since February 2022 but above forecasts of 2.6%. Compared to the previous month, the CPI rose 0.3%, following a 0.1% fall in September.
$JPINTR -Japan's Interest Rates (October/2024)ECONOMICS:JPINTR 0.25%
October/2024
source: Bank of Japan
- The Bank of Japan (BoJ) unanimously maintained its key short-term interest rate at around 0.25% during its October meeting, keeping it at the highest level since 2008 and matching market estimates.
Thursday's decision came amid shifting political lansdscape following Japan's election and ahead of the US presidential election.
In a quarterly outlook, the BoJ held its forecast that core inflation to reach 2.5% in FY 2024, with inflation expected to be around 1.9% for both FY 2025 and FY 2026.
Regarding the GDP, the central bank retained its 2024 growth forecast at 0.6%.
Additionally, it forecasts growth of 1.1% for FY 2025 and 1.0% for FY 2026.
$USGDPQQ -U.S GDP (Q3/2024)ECONOMICS:USGDPQQ 2.8%
Q3/2024
source: U.S. Bureau of Economic Analysis
-The US economy expanded an annualized 2.8% in Q3 2024,
below 3% in Q2 and forecasts of 3%, the advance estimate from the BEA showed.
Personal spending increased at the fastest pace since Q1 2023 (3.7% vs 2.8% in Q2),
boosted by a 6% surge in consumption of goods (6% vs 3%) and a robust spending on services (2.6% vs 2.7%), mostly prescription drugs, motor vehicles and parts, outpatient services and food services and accommodations.
Government consumption also rose more (5% vs 3.1%), led by defense spending.
In addition, the contribution from net trade was less negative (-0.56 pp vs -0.9 pp), with both exports (8.9% vs 1%) and imports (11.2% vs 7.6%) soaring, led by capital goods, excluding autos. On the other hand, private inventories dragged 0.17 pp from the growth, after adding 1.05 pp in Q2.
Also, fixed investment slowed (1.3% vs 2.3%), led by a decline in structures (-4% vs 0.2%) and residential investment (-5.1% vs -2.8%).
Investment in equipment however, soared (11.1% vs 9.8%).
DAX TRADING IDEAHi again traders!
Here to bring you'all this idea about a bullish movement on DAX. Not a long term buy but a fast trade. The idea is to close it today before the market closes.
Why I think so?
The index has been on a three-day consecutive bearish movement. Dropping 500. After a manipulation, price seems to be holding on 5 minutes - 15 minutes frames, showing us a clear accumulation zone leaded by EMA9 and EMA50 ( 5 mins).
My potential profit is 104 points above the marked entry. Althought I think price is pumping on a few hours, could be possible to see a quick retracement before that.
Dow Jones Index (US30): Support & Resistance Analysis
Here is my latest support & resistance analysis for US30.
Resistance 1: 42450 - 42720 area
Resistance 2: 43280 - 43310 area
Support 1: 41616 - 41886 area
Support 2: 40850 - 41182 area
Support 3: 40000 - 40240 area
Consider these structures for pullback/breakout trading.
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NASDAQ INDEX (US100): More Growth is Coming Next Week
US100 nicely respected a recently broken horizontal structure resistance.
The price formed an inverted head and shoulders pattern on that and bounced.
I think that the Index will continue growing next week.
Next resistance - 20460
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Dow Jones Index (US30): More Growth is Coming?!
US30 successfully violated a resistance line
of a horizontal parallel channel on a daily time frame on Friday.
It indicates a highly probable bullish trend continuation.
Next resistance - 43150
For entries, consider a retest of a broken structure.
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S&P500 INDEX (US500): Bullish Trend Continue
US500 broke and closed above a resistance line of a horizontal
range yesterday on a daily and updated the All-Time High.
It confirms the dominance of the buyers and indicates
a highly probable continuation of the uptrend.
Next resistance - 5850
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