EUR/USD is trading at 1.05270, 0.11% up since previous day close. The EURO turned slightly higher against the steady USD as traders remain cautious over upcoming Fed Powell’s speech later in this week. The mixed market sentiments over global recession made the currencies to erase earlier gains in major currencies to some extent. The ECB’s chances raising interest rate in the next meeting led a weakness in global currencies. On data front, the Euro-zone Industrial Production grew by just 0.4% lower than expectation 0.5% & the Trade Balance deficit dropped to 31.7B from 17.8B in the prior month. As seen in the chart, the EUR/USD reversed upside after forming double bottom & hence, slight buying bias may be seen further.
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Near Day | ![]() |
R3 | 1.07125 |
R2 | 1.06051 |
R1 | 1.05507 |
Turnaround | 1.04977 |
S1 | 1.04433 |
S2 | 1.03903 |
S3 | 1.02829 |
WTI Oil is trading at $108.11, 0.08% down since previous day close. The downside persisted in Oil prices as higher interest rates in major economies reduce the consumption demand of Oil & other energy products. Earlier, the prices retreated post release of Energy Information administration (EIA) report which showed a build-up in oil inventory level by 2.0 mbpd against the expected fall of 2.3mbpd. On Wednesday, the API report showed a rise in Oil stocks level by 0.73 mbpd against the expected fall of 1.20 mbpd. As seen in the chart, the Oil crossed down the short term Moving Averages of MA (10) & MA (20) & is trading near MA (100) which signals for make or break situation on daily basis.
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Near Day | ![]() |
R3 | 130.79000 |
R2 | 120.63000 |
R1 | 114.54000 |
Turnaround | 110.47000 |
S1 | 104.38000 |
S2 | 100.31000 |
S3 | 90.15000 |
CHNIND is trading at 7348, 0.03% up since previous day close. The Chinese shares turned slightly higher following the other global markets as positive sentiments emerges amongst traders ahead of U.S Fed Powell’s speech which is due later in this week. Earlier, the indices slid down as markets are worried about global recession which could slow down the economic growth. Globally, the rising inflationary concern, ongoing Russia- Ukraine conflicts & Fed’s aggressive approach makes indices to trade into volatile zone. The result of PMI figures will remain in focus in the next week. As seen in the chart, the index is hovering near short term Moving Averages & hence, either side breakout can be seen for the day in CHNIND.
Read More… Read LessIntra Day | ![]() |
Near Day | ![]() |
R3 | 7905.00000 |
R2 | 7601.00000 |
R1 | 7441.00000 |
Turnaround | 7297.00000 |
S1 | 7137.00000 |
S2 | 6993.00000 |
S3 | 6689.00000 |
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