Trade ideas for July 19-23

Trade ideas for July 19-23

2021-07-16 • Updated

We will remember the past week for the surge in the US inflation and the soothing comments of the Federal Reserve’s Chair Jerome Powell. Which news and trade opportunities await us in the upcoming days?

Trade opportunities for July 19-23

Forex

With the European Central Bank’s meeting on Thursday, the EUR will be the highlight of the week. The ECB will likely say more about its new strategy. The bank’s officials have already hinted that they plan to allow inflation to overshoot the 2% target. This would mean that the regulator won’t tighten policy prematurely. The EUR might weaken in EUR/USD, EUR/JPY, EUR/GBP, and EUR/NZD. 

Stocks

Top US companies will continue hitting the market with earnings reports. This time we’ll hear from J&J, Coca-Cola, eBay, Microsoft, Intel, AT&T, and Twitter. The broad market gauge, S&P 500 (US500) remains near the record highs. The Fed’s assurances about the continuing monetary support represent the main bullish factor. The main risks for the uptrend are the spread of the coronavirus delta variant and the surging inflation. Analysts at Morgan Stanley warned that the odds of a 15% correction in the US stock market are rising as the valuation of technology stocks has become too high. Still, until the decisive technical signals arrive, it’s too early to talk about sell trades.  

Oil & metals

Oil had the worst week since March. Uncertainty around the prospect for an OPEC+ deal to increase supply has clouded the short-term outlook. The United Arab Emirates is close to a deal that would allow it to boost output in the coming months. On the upside, the demand is expected to rise, and Citigroup sees Brent (XBR/USD) above $80 a barrel even if oil exporters agree to increase production.

Higher inflation in the US and cool comments of the Fed supported gold. If the precious metal manages to overcome resistance at $1838, the targets will be at $1850/$1853.

Risk warning

The following information is not investment advice. Remember that trading is risky. Manage your funds carefully and remember that you can use Take Profit and Stop Loss orders to maximize your gains and limit your losses.

TRADE NOW

Similar

Oil: Russia-Ukraine Crisis Could Boost Oil Prices
Oil: Russia-Ukraine Crisis Could Boost Oil Prices

Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...

WTI and Brent React To a Key Pivot
WTI and Brent React To a Key Pivot

Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera