Happy big day everyone ????
Economic news – this week
???????? United States – United States – Manufacturing PMI
???????? United States – Job Opportunities (JOLTs)
???????? US Nonfarm Employment Change released by ADP
???????? United States – Non-Manufacturing PMI
???????? United States – US crude oil stocks
???????? US unemployment claims rates
???????? US unemployment rate
???????? United States – Private Employment Report
???????? Friday – US market holiday
Technical studies
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gold
After gold broke the safe haven of support levels at $1971, it is now heading to test the next one at $1955. As a correction, trading is higher than $1962. Gold remains in an uptrend with a positive scenario.
oil
Oil managed to breach the resistance levels at $74 and represent a barrier to restore the positive rebound to the levels of $76 and $82, provided stability is above the levels of $73, and we see the continuation of the rise with OPEC Plus countries reducing production to balance the markets
euro dollars
Eurodollar rebounded from $1.09626 levels to head to test the support levels at $1.08196, breaking this level and trading below it will lead the price to an additional decline to choose the next support at $1.07128
bitcoin
The digital safe haven Bitcoin rebounded at the resistance levels at $28,816 to head to test the support at $28,165.
and $27511, respectively, trading above $27511 reduces the positive outlook in the future
Dow Jones
The Dow Jones Industrial Average was able to breach the resistance at $32,970 to head to test the levels of $33,700 and the $34,516 level, knowing that it is trading above $32,970. The outlook remains positive after the US GDP data was released positively on companies for the first quarter.
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The coming period will issue corporate earnings:
1- IBM stock
The current price: $129
2- JNJ stock
Price: $153
3- McDonald’s MCD shares
Price: $277
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Yesterday, the results of the US quarterly GDP for the month of March were released, as it came with a growth rate of 2.6%, less than expectations of 2.9%, and through the readings of the past three months of this year, the strength of the US economy, which is still moving away from recession, is evident.
So far, after raising 25 points for the month of March, the Fed has managed to curb inflation and control the banking crisis so far, while protecting the economy from a devastating recession.
The current stage has price fluctuations in which risk appetite must be abandoned and investment in safe financial instruments that bring sustainable returns towards achieving the best investment for investors and speculators.
Financial markets are bigger than everyone else, and I know that your profit and loss in them depends on your own investment decision.. so do not take any risks.
Have a nice and blessed day ????
