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EUR/USD finished the week with losses of over 0.70% and ended Friday’s session down 0.10% trading below the 1.1700 figure, cementing the case for a pullback to test key support levels as the Greenback posts its best week in four months. At the time of writing, the pair trades at 1.1688.

Introduction to USDCAD The USD-CAD pair, also known as the “Loonie,” compares the value of the US Dollar to the Canadian Dollar. This pair is widely traded due to significant trade flows between the United States and Canada. Forex traders frequently analyze USDCAD for opportunities driven by shifts in commodity prices, particularly oil, given Canada’s […]

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For the first time in history, the US 500 closed above the 6,200.0 mark – Q2 this year became the best quarter for the index since 2023. The forecast for US 500 today is positive.

US 500 forecast: key trading points

• Recent data: Initial Jobless Claims last week stood at 233,000
• Market impact: improved Initial Jobless Claims creates a positive background for equities as investors see employers continuing to retain and even expand their workforce

US 500 fundamental analysis

Lower-than-expected Initial Jobless Claims (233,000 vs. forecast 240,000 and previous 237,000) indicates a strengthening labour market and reduced pressure on employment. A strong labour market stimulates household spending on durable goods and entertainment, benefiting retail companies, restaurants, and consumer goods manufacturers.

Initial Jobless Claims below expectations signals a robust labour market and rising consumer demand, which is overall positive for the US 500. The biggest beneficiaries will be the consumer and financial sectors, as well as industrial and transportation companies, while tech and real estate stocks will receive stable support from the stronger economic fundamentals.

US 500 technical analysis

The US 500 index reached a new all-time high above the 6,230.0 level. Support has formed at 5,920.0, with resistance at 6,285.0. A strong upward trend is observed, but a minor corrective pullback cannot be ruled out. However, after it, another upward impulse and a new all-time high can be expected.

Scenarios for the US 500 index price forecast:

• Pessimistic scenario for US 500: if the support level at 5,920.0 is breached, prices may fall to 5,745.0
• Optimistic scenario for US 500: if the resistance level at 6,285.0 is broken, prices may rise to 6,390.0

Summary

Initial Jobless Claims below forecast indicate a strong labour market and rising consumer demand, which is favourable for the US 500 index. It is trading in a strong upward trend and could set a new all-time high. The nearest growth target is 6,390.0. However, a minor corrective pullback can be expected in the short term.

What Trump just tweeted really makes no sense.

• We will be releasing a minimum of 7 Countries having to do with trade, tomorrow morning, with an additional number of Countries being released in the afternoon. Thank you for your attention to this matter!

Releasing countries? What?

Anyway, I translated it as releasing tariff info for 7 (or more) countries in the morning and more in the arvo.

Introduction to XRP/USD The XRPUSD pair represents the exchange rate between Ripple (XRP), a widely recognized digital asset often referred to simply as “XRP”, and the US Dollar. Known for its high-speed cross-border transaction capabilities, Ripple is a favorite in the fintech space. This pairing reflects how XRP performs against the US dollar, a key […]

The post XRP Price Forecast: Breakout or Rejection? appeared first on UnitedPips Ltd.

This week, the US Tech stock index reached a new all-time high and aims to repeat this success. The forecast for US Tech today is positive.

US Tech forecast: key trading points

• Recent data: Nonfarm Payrolls for June in the US reached 147,000
• Market impact: this is generally perceived as positive for stocks, as it supports company revenues and reduces recession fears

US Tech fundamental analysis

Strong job growth indicates continued momentum in the labour market and reinforces confidence in consumer demand and economic growth. The fall in unemployment signals labour market strengthening, reducing risks for consumer spending and company fundamentals.

The drop in unemployment confirms labour market improvement and reduces socio-economic risks. This boosts investor confidence and lowers the likelihood of sharp Fed tightening. For the technology sector, this means continued access to cheap and available borrowing, which is crucial for large-scale innovation development and implementation.

US Tech technical analysis

For US Tech, this acts as an additional growth driver, since most major tech firms target a wide consumer base. June data indicate continued strengthening of the US labour market, creating a strong foundation for consumer demand and corporate profits.

The US Tech index broke its previously set resistance level at 22,740.0, and the support level shifted to 22,400.0. A new resistance level has not yet formed. It is worth noting the strong upward momentum that enabled US Tech to reach a new all-time high.

Scenarios for the US Tech index price forecast:

• Pessimistic scenario for US Tech: if the support level at 22,400.0 is breached, prices may fall to 21,750.0
• Optimistic scenario for US Tech: if the resistance level at 22,740.0 is broken, prices may rise to 23,430.0

Summary

For US Tech, this creates a favourable environment: technology and innovation companies benefit from low rates and strong demand. However, the widening trade balance deficit adds moderate pressure on the dollar and introduces an external risk factor that investors should consider when forming their portfolios. Overall, fundamentals remain positive, and the near term should maintain the upward trend for US stocks.

GBPCHF: ⬆️ Buy – GBPCHF reversed from strong support level 1.0785 – Likely to rise to resistance level 1.0950 GBPCHF currency pair recently reversed up from the strong support level 1.0785 (which has been steadily reversing the price from last.

Silver: ⬆️ Buy – Silver reversed from support level 35.50 – Likely to rise to resistance level 37.30 Silver recently reversed up with the daily Hammer from the support level 35.50 (which stopped the previous waves (iv) and 4, as.

NASDAQ 100, S&P 500 Index Futures Reach New All-Time Highs as New Week Starts, Stocks Mixed Elsewhere; US Dollar Index Falls to New 3.5-Year Low; Trump Threatens Japan With More Tariffs Over Rice

Daily Pivots: (S1) 198.02; (P) 198.42; (R1) 198.85; More… Intraday bias in GBP/JPY is turned neutral with current retreat and some more consolidations would be seen first. Near term outlook will stay bullish as long as 193.99 support holds. Above 198.78 will resume the rise from 184.35 to 199.79 resistance. Break there will target 100% […]

The post GBP/JPY Daily Outlook appeared first on Action Forex.