The EU plans to intervene in markets directly to curb rising energy costs, threatening to push the Euro area's economy into a deep recession.
Risk Assets Ahead of Rally: What to Buy?
Information is not investment advice
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected. The expectations of an upcoming inflation decrease and the fact that, despite the Federal Reserve's aggressive interest rate increases, companies remain profitable, and the jobs market is still in good shape helped to improve investors' sentiment.
Moreover, on Thursday, the Producers price index (PPI) also confirmed possible inflation cool down, as numbers underperformed the forecasts.
The NASDAQ 100 (US100) is a capitalization-weighted index, which includes companies from major industry groups, including computer hardware/software, retail/wholesale trade, biotechnology, and telecommunications.
Usually, investors treat these companies as risky investments as many have low revenue relative to debt. Therefore, this index is the main indicator of the traders' and investors' sentiment.
US100 breakout on the D1 timeframe
What to trade?
If US100 doesn’t return under the trendline by the end of the week, traders might consider looking for a buy trade with the target at 14 000.
CCL, Daily chart
Although the stock is not included in US100, the overall stock market growth might boost CCL. The price has formed a triple bottom pattern with the resistance at $11.10. Traders should consider buying the stock after the breakout of this level, with the target at $13.35 (21% potential profit).
AMD, weekly chart
The price has formed a double bottom inside of the bullish wedge. The wedge breakout has already happened, highlighting the possibility of an upcoming pump. Traders should consider buying AMD stock after the price breaks above $110.00, with the target at $135.00.
COIN broke out of the horizontal consolidation, and currently, the price is retesting the breakout from above. If buyers hold the $80.00 support, they will have all chances to push the stock to $155.00.
Nvidia is consolidating between 163.00 and 193.00. Currently, the price is forming an inverted head-with-shoulders pattern. The breakout of 193.00 resistance will confirm the pattern and set the target at 230.00.
If the price goes below 163.00, it will go towards 145.00.
Tesla, daily chart
Tesla stock is trading inside the inverted falling wedge, which usually works as a bullish pattern. If the price breaks above 935.00, traders should consider following the trend with the target at 1040.00. Trade declines if the price falls below 825.00.
Apple, weekly chart
Apple’s stock also moves inside an inverted falling wedge. The rally will start after the breakout of the wedge’s upper border. In this case, the first targets will be 182.00 and 212.00.
If the price doesn’t break the resistance, it will decline to 155.00.
US oil exports reached a record last week at five million barrels a day, according to Energy Information Administration data…
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.