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NATURAL GAS, UK100 and AUD/USD

By Research Team Monday, Aug 1, 2022
AUD/USD

    • 9.08amW1
    • High0.69997
    • Low0.69681
    • Close0.69821

AUD/USD is trading at 0.69957, 0.08% up since previous day close. The Aussie seems to be trading n higher side on Monday against the soft USD after Fed hiked interest rate as expected; however hinted for a slowdown in rate hike process in near future. However, the weaker than expected Chinese PMI figures may remain slightly negative factor for AUD/USD since Australia & China are trading partners. The AIG Manufacturing Index fell to 52.5 from 54.0 in the previous month & the ANZ Job Advertisements dropped by 1.1% from 0.4% in the prior month. As seen in the chart, although the pair is trading within the channel pattern yet it is hovering near MA (10); which indicates the chances of make or break situation on short term basis. Slight buying bias may be established for the day.

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Daily Outlook

AUD/USD

Intra Day
Near Day

Technical Levels

R3 0.72204
R2 0.70995
R1 0.70466
Turnaround 0.69786
S1 0.69257
S2 0.68577
S3 0.67368
By Research Team Monday, Aug 1, 2022
NATURAL GAS

    • 9.48amD1
    • High7.949
    • Low7.873
    • Close7.913

Natural gas is trading at $7.903, 0.28% down since previous day close. The Natural gas prices corrected from recent highs of $9.00 levels amid cautious move over increase in supplies against from Russia. Last week, the reducing gas flows from Russia’s Nord Stream pipeline to Europe led a heavy buying pressure in Natural gas prices. The U.S Energy Information Administration (EIA) report showed a build-up in Natural gas inventory level lower than expectation. The rising inflationary pressure lowers down consumption demand of commodities which may remain vital for Gas prices as well. As seen in the chart, the commodity reversed down from major resistance & is trading near MA (10). Sideways trading may be suggested.

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Daily Outlook

NATURAL GAS

Intra Day
Near Day

Technical Levels

R3 8.20100
R2 8.04500
R1 7.98000
Turnaround 7.88800
S1 7.82000
S2 7.73100
S3 7.57300
By Research Team Monday, Aug 1, 2022
UK100

    • 9.30amD1
    • High7375.4
    • Low7357.9
    • Close7361.4

UK100 is trading at 7368.8, 0.18% up since previous day close. The mixed trading can be seen in major indices after surging up in the last week. The weaker than expected Chinese figures & upcoming U.S NFP data outcome slightly suppressed the UK100. Besides this, ongoing process of electing the country’s Prime Minister remains vital for sterling Pound & UK100 as well. Last week, the Fed Chair Powell stated the chances of slowdown in rate hike move in future course of time which pushed up the UK100. The result of Final Manufacturing PMI data will remain into focus for the day. As seen in the chart, the index reversed up from major level of cluster support which indicates the chances f further buying bias if sustains an upside momentum.

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Daily Outlook

UK100

Intra Day
Near Day

Technical Levels

R3 7568.05000
R2 7468.69000
R1 7433.73000
Turnaround 7368.06800
S1 7333.73000
S2 7268.88000
S3 7168.06000
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