Market Overview:
Global equities experienced a volatile trading week, influenced by mixed economic data, corporate earnings, and geopolitical developments. Major indices displayed cautious optimism but gains were capped by inflationary concerns and central bank policy outlooks.
Key Market Highlights:
- S&P 500: Declined by 0.8%, pressured by tech sector weakness.
- NASDAQ: Fell 1.2%, with high-growth stocks losing momentum amid rising bond yields.
- Dow Jones: Remained flat (+0.1%), supported by defensive sectors.
- FTSE 100 (UK): Rose by 0.5%, driven by energy and commodity stocks.
- DAX (Germany): Lost 0.6% as industrials underperformed.
Currency Market Analysis:
Our team of experts at Munafax Private Limited has analyzed the current trends and patterns in the currency market, providing you with trading recommendations for various currency pairs.
US Dollar Index Analysis:
The US Dollar Index is showing some weakness after a long time. The last few weeks have seen some pullback from nearly 110 levels to around 107 levels now. The formation on charts looks weak, though there might be some retracement before further correcting.
EUR/USD Analysis:
The EUR/USD is again taking support at the same old levels of 2015-17 lows. The pair was in a downtrend for some time and started the correction around Sep 2024 highs. We recommend a long in this pair, it can be a buy on dips or accumulation of small longs on different levels.
Trading Recommendations:
Based on our analysis, we recommend the following trades:
- Sell US Dollar Index on rise, targeting 105 and 104.70 levels.
- Buy EUR/USD on dips, targeting 1.0530 and 1.0570 levels.
Conclusion:
At Munafax Private Limited, we're committed to providing you with expert market insights and trading recommendations. Stay ahead of the curve and make informed trading decisions with our expert analysis.
Disclaimer:
The information contained in this report is for general information purposes only and is not intended to be relied upon as advice. Any opinions or estimates expressed herein are subject to change without notice.
About Munafax Private Limited:
Munafax Private Limited is a leading provider of financial market research and analysis. Our team of experts provides insightful and actionable recommendations to help investors make informed decisions.
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