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Post in US Market news
US Consumer price index YoY and MoM coming out at 12:30 UK time as well as US CPI index Food and Energy MoM and YoY. The US fed reserve have been taking measures to tame inflation but these results may impact markets so keep an eye out.
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Crude Oil Price Anchored Ahead of US CPI Despite Disruptions. Will Data Drive WTI?
Crude oil prices are stagnant, disregarding inventory data and supply woes
The anticipation of US CPI has seen markets somewhat calm today
If CPI creates a storm, will a US Dollar move impact WTI prices?
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Swiss Franc Firming Against US Dollar and Euro. Will Momentum Take CHF Higher?
EUR/CHF made a 7.5-year low at the end of last month at 0.9699, moving below the previous low of 0.9804.

Since breaking lower, the price has not managed to reclaim 0.9804 and it may continue to offer resistance. The 21-day Simple Moving Averages (SMA)is currently at that level, potentially adding resistance.

Further up, the recent peak of 0.9957 might offer resistance ahead of the break point at 0.9973.

In the last session, the price has crossed below the 10-day SMA and remains below the 21-, 55-, 100- and 200-day SMAs.

A bearish triple moving average (TMA) formation requires the price to be below the short term SMA, the latter to be below the medium term SMA and the medium term SMA to be below the long term SMA. All SMAs also need to have a negative gradient.

Looking at EUR/CHF, the criteria for a bearish TMA has been met and may indicate that bearish momentum could evolve further.

Support might be at the recent low of 0.9699 or further down at the 161.8% Fibonacci Extension of 0.9638.

 

Chart created in TradingView 

USD/CHF TECHNICAL ANALYSIS

USD/CHF has bounced off low made at the start of this month at 0.9470 to trade in a wide range of 0.9545 – 0.9650. These levels might provide support and resistance respectively.

While the price is below all short-, medium- and long-term Simple Moving Averages (SMA), they have positive and negative gradients. This may suggest a lack of conviction for directional momentum that might see further range trading.

Re-iterating this possibility is the price criss-crossing the 10-day SMA. Recent history has shown that when the price crosses the 10-day SMA, momentum in that direction continues. That is not the case over the last week.

The recent low of 0.9470 may provide support ahead of the break point at 0.9460. On the topside, resistance might be at the break point of 0.9710 or the July peak of 0.9886.

 Chart created in TradingView

Daniel McCarthy, Strategist Daily FX

Source: Daily FX
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Post in FTSE 📈 to drop soon
Check out phillo's analysis on the FTSE100. Are you tracking any technical analysis for the FTSE you want to share? If so join the forum.
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Rolls-Royce share price: half-year results
Rolls-Royce shares (LON: RR) sunk by 10% to 83p on Friday after half-year results spooked investors over long-running problems with supply chain issues and inflation.
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Community Survey Questions
Hello IG Community, at IG, we are working to improve investing and trading content for you. We would really like to know what you feel about investing and trading content. Please take and complete this 10-minute survey.
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Dividend Adjustments 8th August 2022 - 15th August 2022
Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 8th August 2022. These are projected dividends and likely to change. IG cannot be held responsible for any changes made.
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Best UK ETFs to buy in Q3 2022
Some of the best UK ETFs to buy this quarter include those centred-on investing themes such as gold, Brent Crude, and sustainable equity.
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Your thoughts on ProRealTime
Thousands of IG clients love using ProRealTime for the Decision support tools, Trading interface, Automatic trading and Backtesting capabilities. Tell us about your experience using ProRealTime. 

 

Some of the particular points we are interested in:

Did you know about ProRealTime before joining IG?


What feature convinced you that ProRealTime was the platform to use?


Is it an easy process to activate ProRealTime, if not how can we make it easier for you?


Is it easy  to launch ProRealTime or would you like to launch it in a different way?


Do you like the default blue template or do you prefer another, what is your favorite ProRealTime template?


Which windows do you think are essential to see on a default ProRealTime template?


What would you like to change or add to the platform?


 

We would love to hear from you!

For more information visit the following link: ProRealTime

 

All the best - MongiIG
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Dogecoin (DOGEUSD) Elliott Wave Technical Analysis
Dogecoin (DOGEUSD) Elliott Wave Analysis by @TradingLounge Daily Chart, 2 August 2022.
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The Week Ahead On The Markets
The action keeps on coming, with the recent central bank focus shifting towards employment data as the US brings the latest jobs report. With the US having entered a technical recession, traders will be watching closely for further weakness to impact Federal Reserve (Fed) plans. Also keep an eye out for jobs data from New Zealand and Canada.
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Dividend Adjustments 1st August 2022 - 8th August 2022
Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 1st August 2022. These are projected dividends and likely to change. IG cannot be held responsible for any changes made.
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Best UK shares to buy in August 2022
The UK’s best shares to buy in August include Lloyds, Rolls-Royce, and Centrica, as all three are surrounded by strong defensive moats as the downturn hits.
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Debt to GDP Ratio by Country: State of Global Debt 2022
The EU scraps debt promises, for now.
Debt to GDP league champ: Japan.
China’s debt to GDP rate is probably too good to be true.
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Market alert: AUD/USD jumps to five-week high amid Australian inflation outlook
Treasurer Jim Chalmers warns of a red flag in Australia's economic and fiscal position; upgrades the end-of-year inflation prediction to 7.75%.
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Post-Fed rally brings new higher high for S&P 500: S&P 500, Singapore Blue Chip, US Dollar Index
The conclusion of the Federal Open Market Committee (FOMC) meeting overnight saw an expected 75 basis-point (bp) hike to a range of 2.25% to 2.5%, which was in line with market expectations.
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A Price Action Tell: Support at Prior Resistance, Resistance at Prior Support
As we talked about in our introduction to price action, markets are cyclical creatures. Prices go up, prices go down and as traders, the most we can hope to do is ride on the right side of the wave for a bit.
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What is a Short Squeeze and How to Trade It?
The short squeeze has demanded the audience from many of the best investors and traders the world over, with some boastful about correct market predictions while others are humbled by the swift yet destructive nature that is the short squeeze.
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Tug-of-war in market sentiments as FOMC meeting gets under way: S&P 500, AUD/USD, Copper
De-risking in the US equity markets continues to take place overnight, as economic data and downbeat profit guidance from Walmart provided little catalysts for markets to cheer.
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Which is the better share to buy: Barclays or Lloyds?
A fundamental and technical outlook on the Barclays and Lloyds share price.
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FAANG Earnings Week Ahead: Apple, Amazon, Google, Meta, Microsoft
FAANG Earnings Week Ahead: Apple, Amazon, Google, Meta, Microsoft
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How will easyJet shares compare to Ryanair’s post Q3 trading statement?
Where to next for the easyJet share price as Ryanair posts its first post-pandemic profit?
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US equity markets mixed with impending rate hike from the Fed: GBP/USD, STI, EUR/GBP
Major US indices were mixed to kickstart the new trading week, as sector performance revealed investors’ positioning for the impending rate hike from the Fed this week.
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The Week Ahead On The Markets
Earnings season is in full swing, on both sides of the Atlantic, and investors and traders may well find themselves hard-pushed to keep up with the avalanche of updates that are scheduled for the week to come. Big tech reports in the US, plus a host of others, along with UK banks, miners and airlines.
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FOMC meeting and big tech earnings calls for some wait-and-see: US dollar, USD/SGD, Gold
The end of last week saw major US indices snapping their three-day winning streak, as earnings underperformance and weak guidance from Snap cast a cloud of uncertainty over the outlook for social media and technology companies.
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