Russell 2000 Technical Analysis – Key level to break before the all-time high 0 (0)

Russell 2000
Technical Analysis – Daily Timeframe

On the daily chart, we can
see that the Russell 2000 got rejected from the cycle highs and pulled back.
The buyers will want to see the price breaking higher to increase the bullish
bets into a new all-time high, while the sellers will likely step back in
around the highs if the price gets there.

Russell 2000 Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can
see that we have a downward trendline
defining the current pullback. The sellers will likely keep on leaning on it to
position for new lows, while the buyers will look for a break higher to pile in
for a rally into a new cycle high.

Russell 2000 Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, we can
see more clearly the recent price action. There’s not much else we can add here
as the sellers will likely lean on the trendline, while the buyers will look
for break higher. The red lines define the average daily range for today.

Upcoming
Catalysts

Today we get the latest US Jobless Claims figures, while tomorrow we conclude
the week with the US PCE report.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Go to Forexlive

Deutsche anticipates faster rate cut cycle by the ECB going into next year 0 (0)

They are sticking with the view that the ECB will begin delivering back-to-back rate cuts, but starting from December. A further weakening in the economic outlook is the main cause for the shift in their call, after having previously forecasting the ECB to deliver on 25 bps rate cuts every quarter until a terminal rate of 2.00% to 2.50% around the end of next year.

„We are moving to a faster normalization call, with the ECB to reach the same terminal rate of 2.00 to 2.50% six months earlier in mid-2025. We expect this more rapid easing cycle to be achieved with back-to-back 25 bp cuts from December, but we do not rule out a 50bp cut in December.“

But given the latest report that surfaced just a little over an hour ago here, they might just have to consider revising their call again.

This article was written by Justin Low at www.forexlive.com.

Go to Forexlive