Bay Street May Open Slightly Higher; Powell's Testimony In Focusfxcue.com

(fxcue news) - Canadian stocks are likely to open higher Tuesday morning on slightly firm metal prices. With the focus on Fed Chair Jerome Powell's congressional testimony, and upcoming U.S. earnings season, the mood is likely to remain a bit cautious. Powell's testimony on Tuesday and Wednesday is likely to provide more clues on the likely direction of rates ahead of a policy meeting later this month. Top U.S. banks JPMorgan, Citigroup and Wells Fargo are due to report their quarterly results on Friday. The Canadian market ended higher on Monday, lifted by gains in real estate, healthcare, consumer discretionary and consumer staples sectors. The benchmark S&P/TSX Composite Index, which dropped to 21,997.58 around noon, ended the session with a gain of 67.10 points or 0.3% at 22,126.13, slightly off the day's high of 22,133.61. Asian stocks closed broadly higher on Tuesday after Wall Street equities inched higher to close at record peaks overnight ahead of the Federal Reserve Chair's testimony and key U.S. consumer and producer price inflation figures due this week. European stocks are down in negative territory with investors reacting to a slew of disappointing corporate updates and looking ahead to a crucial testimony from Fed Chair Jerome Powell before a congressional panel for additional clues on the rate trajectory. Traders also await comments from European Central Bank board (ECB) member Piero Cipollone for further direction. In commodities, West Texas Intermediate Crude oil futures are down $0.42 or 0.5% at $81.91 a barrel. Gold futures are gaining $3.60 or 0.15% at $2,367.10 an ounce, while Silver futures are up $0.417 or 1.35% at $31.330 an ounce.

Bay Street May Open Slightly Higher; Powell's Testimony In Focus

Sensex

Bay Street May Open Slightly Higher; Powell's Testimony In Focus

Sensex

Technical analysis: AUD/NZD close to overbought, may soon face correction

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Traders waiting for Powell's congressional testimony, will gold prices face a chance to soar?

STARTRADER：Delisting of XAUUSD.m

UiPath To Eliminate About 10% Of Global Workforce Amid Restructuring

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If the gold market rises today, sell at 2652 and stop at 2657. The lower targets are 2634 and 2625, and leave. Buy at 2623-2621.

Operation suggestion: Short sell near gold 2650-52, loss 2658, look at 2640, 2635; Near 2635 in the data, you can also buy short and buy long!

Short selling (buy down) in batches around 2650-2652 for gold rebound, with a 2/10 position and a stop loss of 6 points. The target is around 2635-2630, with a break at the 2625 level;

Crude oil prices have risen and broken through, and bulls are expected to continue. In today's operations, it is recommended to consider a pullback layout and buy first, with high selling as a supplement. Focus on resistance at $71.4-72.4 above and support at $69.5-68.5 below.

We are considering a high sell low buy strategy for spot gold operations today, with a focus on resistance at $2655-2666 above and support at $2633-2620 below.

Gold is expected to rebound to around or above 2650 and sell short, with a loss of 2655. Short term view is 2630-25, with a target of around or below 2600; Short selling near 2670 with a loss of 2677, the target remains the same.

Gold operation strategy: Short sell gold at the 2648-53 line, stop loss at 2658, target at the 2612-2618 line, break below the 2606-2600 line;

Gold Strategy: 2645-2650 Short Selling Stop Loss 2658 Target 2630

Considering the rebound of crude oil operations today, short selling is the priority, with buying long at low prices as a supplement. Focus on resistance at $68.6-69.2 above and support at $67.0-66.0 below.

Sell directly near gold 2639, targeting 2622-2615-2606; If short selling is done in batches at three points: 2644, 2647, and 2654; If you buy more around 2622, 2615, and 2606 for the first time;

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Bay Street May Open Slightly Higher; Powell's Testimony In Focus

Sensex

Bay Street May Open Slightly Higher; Powell's Testimony In Focus

Sensex

Technical analysis: AUD/NZD close to overbought, may soon face correction

The Bank of Japan will hold three meetings to hear opinions on reducing the scale of bond purchases

Traders waiting for Powell's congressional testimony, will gold prices face a chance to soar?

STARTRADER：Delisting of XAUUSD.m

UiPath To Eliminate About 10% Of Global Workforce Amid Restructuring

Please sign in

Trader

If the gold market rises today, sell at 2652 and stop at 2657. The lower targets are 2634 and 2625, and leave. Buy at 2623-2621.

Operation suggestion: Short sell near gold 2650-52, loss 2658, look at 2640, 2635; Near 2635 in the data, you can also buy short and buy long!

Short selling (buy down) in batches around 2650-2652 for gold rebound, with a 2/10 position and a stop loss of 6 points. The target is around 2635-2630, with a break at the 2625 level;

Crude oil prices have risen and broken through, and bulls are expected to continue. In today's operations, it is recommended to consider a pullback layout and buy first, with high selling as a supplement. Focus on resistance at $71.4-72.4 above and support at $69.5-68.5 below.

We are considering a high sell low buy strategy for spot gold operations today, with a focus on resistance at $2655-2666 above and support at $2633-2620 below.

Gold is expected to rebound to around or above 2650 and sell short, with a loss of 2655. Short term view is 2630-25, with a target of around or below 2600; Short selling near 2670 with a loss of 2677, the target remains the same.

Gold operation strategy: Short sell gold at the 2648-53 line, stop loss at 2658, target at the 2612-2618 line, break below the 2606-2600 line;

Gold Strategy: 2645-2650 Short Selling Stop Loss 2658 Target 2630

Considering the rebound of crude oil operations today, short selling is the priority, with buying long at low prices as a supplement. Focus on resistance at $68.6-69.2 above and support at $67.0-66.0 below.

Sell directly near gold 2639, targeting 2622-2615-2606; If short selling is done in batches at three points: 2644, 2647, and 2654; If you buy more around 2622, 2615, and 2606 for the first time;

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