Daily Market Forecast By Capitalcore

[Capitalcore]

UK100 Forex Trading Insights with Bollinger Bands

The UK100, commonly known as the FTSE 100 or 'Footsie', represents the 100 largest companies by market capitalization listed on the London Stock Exchange, making it a crucial indicator of the UK's economic health. Traders closely watch this index for forex trading signals and currency strength analysis. Fundamentally, today's key event is the release of the Halifax Bank of Scotland House Price Index (HBOS HPI), a significant indicator of the housing market's health. A higher-than-forecast reading will likely boost investor sentiment and support GBP currency pairs, positively influencing the UK100 due to increased investor confidence and economic optimism. Additionally, traders should pay attention to developments from the annual BRICS summit, as geopolitical events can affect investor risk appetite and consequently impact the UK100 price movements.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Technically analyzing the UK100 H4 chart, after breaking the significant support at 8738.78 and retesting it multiple times, the index has initiated an ascending channel signaling a bullish trend. The price currently rests at the channel's lower boundary, coinciding with the middle Bollinger Band, providing robust support as evidenced by the latest green candle. Bollinger Bands indicate volatility contracting, suggesting a potential imminent expansion and continuation upward within the channel. The Parabolic SAR indicator currently aligns below price action, confirming bullish momentum. The RSI is moderately positioned around the neutral 50 level, signaling room for potential upward momentum. Additionally, the MACD histogram is diminishing in negative territory, suggesting weakening bearish momentum and a potential bullish crossover, strengthening the outlook for bullish price action.

•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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[Capitalcore]

USDJPY Forex Pair Resistance Levels and Correction Forecast

The USD-JPY forex pair, also known as the "Gopher," represents the exchange rate between the US Dollar and the Japanese Yen. This pair is a widely traded currency pair reflecting economic relationships and market sentiment between the US and Japan. Today's upcoming news includes important releases from the US NFIB Small Business Index and consumer credit figures from the Federal Reserve, indicating economic health and consumer confidence. A positive reading in these indicators typically strengthens the USD. Meanwhile, from Japan, key data include bank lending figures, the adjusted current account, and the Eco Watchers Current Index from the Ministry of Finance and Cabinet Office, respectively, which indicate consumer and business confidence. Positive results can strengthen the Yen, creating potential volatility and trading opportunities in USD/JPY.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the USD-JPY H4 chart, after testing the upper resistance line of the ascending channel, the price appears poised for a correction before potentially retesting resistance levels. Bollinger Bands have widened, signaling increased volatility and supporting the likelihood of a price correction. If a correction occurs, the middle line of the channel could serve as support. The Relative Strength Index (RSI) indicates overbought conditions, suggesting potential bearish momentum. Meanwhile, the MACD histogram bars are diminishing, hinting at decreasing bullish strength, which further confirms the likelihood of a short-term correction.

•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

 

[Capitalcore]

ND100 H4 chart signals new breakout level

The Nasdaq 100, also known as ND100 or the US Tech Index, represents the top 100 non-financial companies listed on the Nasdaq exchange, making it a popular instrument in Forex and CFD trading. Renowned for its volatility and tech-driven composition, it often reacts strongly to U.S. economic data and Federal Reserve announcements. Today, traders are closely watching the Nasdaq 100 as several impactful U.S. fundamentals are due for release. The spotlight is on Initial Jobless Claims, where a lower-than-expected figure would support the USD and possibly pressure ND100. Additionally, three FOMC speakers—Musalem, Waller, and Daly—are scheduled to discuss the economic outlook, and any hawkish tone could hint at tighter monetary policy, reinforcing the dollar and possibly leading to a short-term dip in equities. Secondary data, including Natural Gas Storage and the 30-Year Bond Auction, may influence risk sentiment, but labor data and Fed commentary are expected to drive the main price action in ND100 trading today.

Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Technically, the ND100 is maintaining a strong bullish trend on both short- and long-term timeframes, currently hovering near its all-time high (ATH). As shown on the H4 chart, price action is steadily climbing along the ascending trendline, with candles moving in the upper half of the Bollinger Bands, frequently touching the upper band, indicating sustained buying pressure. Immediate support lies around 23,000 and 22,800, with 0.236 Fibonacci retracement level (22,344). The Williams %R indicator is at -17.01, entering overbought territory, which may signal a potential short-term consolidation or pullback, especially if today's fundamentals trigger a shift in sentiment. However, overall market structure remains bullish, and if the price breaks above the current resistance zone, it could pave the way for a new all-time high, reinforcing the Nasdaq 100 ND100 bullish trend.

•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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