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US OPENING BELL 12-09-2022

Started by PocketOption, Sep 13, 2022, 06:52 am

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PocketOption

US OPENING BELL 12-09-2022

EUROPEAN STOCKS EDGE HIGHER AHEAD OF THE US OPENING BELL, SUPPORTED BY IAN WAR NEWS; THE USD CONTINUES ITS PULLBACK, WHILE THE WTI SEEMS LOOKING FOR NEW HIHGTS.


European stock markets continue the day in a strong recovery before the opening of trading on Wall Street, which is also expected to rise. Currently, the Dax gains 1.66 %, the Cac40 1.29% and the Eurostoxx 1.48%. Sentiment improved mainly due to developments in the war between e and , with ian troops recapturing some 2,500km of ground at the expense of Moscow’s forces, which are in retreat, according to various sources. The news also caused gas and energy prices on the continent to slow further. Investors, however, will focus heavily on the U.S. inflation data coming in tomorrow, giving better indications of the FED’s next moves. In any case, both FED and ECB officials are continuing, in all their speeches, to insist on the need to continue with hawkish monetary policy to curb inflation, which continues to be at record levels.


Meanwhile, the U.S. dollar continues to retrace from recent highs, and this morning marked the lowest since August 26. Similarly, WTI appears to be looking for new highs after a strong recovery last week and is currently trading above $87 a barrel.


As far as the macroeconomic calendar is concerned, no significant data are scheduled today, as already mentioned, except for speeches by some ECB officials.




EURUSD, M15



The EURUSD rose strongly again and reached the target around the uncovered weekly POC once it surpassed the 1.0143 mark upward. However, it posted a 123 bearish pattern around that area, which can be considered a negative bias for the rest of the day, and dropped until the last broken resistance (now support). At the moment, the pair is fighting around the support, but we saw good buying activity around the 1.0143 mark. From a technical point of view, as long as prices consolidate around the support area, the most likely scenario is a continuation of the trend to retest the uncovered weekly POC. On the other hand, should prices break the support downward, a drop toward the LVN and to the W-2 VAH is expected.


Main intraday support areas where to look for long trades in case of bullish candlestick pattern or short trades in case of bearish candlestick pattern: 1.0143, 1.0084, 1.0046.


Main intraday resistances areas where to look for short trades in case of bearish candlestick pattern or long trades in case of bullish candlestick pattern: 1.0186.


S&P500, M30



The S&P is in a short-term uptrend. Currently, the main intraday support area is the LVN around the 4063 mark. In contrast, the most significant resistance area is the W-3 POC (uncovered). From a technical point of view, as long as prices remain above the support, the most likely scenario is a continuation of the rise toward the W-3 VAL and to the W-3 POC. On the flip side, if prices break the LVN downward, a drop until the W-2 VAH is expected.


Main intraday support areas where to look for long trades in case of bullish candlestick pattern or short trades in case of bearish candlestick pattern: 4063, 4031, 3985.


Main intraday resistances areas where to look for short trades in case of bearish candlestick pattern or long trades in case of bullish candlestick pattern: 4108, 4124.


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