Weekly Market Commentary | 15.07 - 21.07
15 July 2024
Curious to know what’s happening on the markets this week? Take a quick tour of the latest news, economic updates, and trading setups that will keep you up-to-date and in the know!
Monday
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A busy start with China's GDP below expectations, but industrial production exceeding forecasts. Later, the US Empire State Manufacturing Index is expected at -5.5 and Jerome Powell's speech post-European session could impact markets.
Tuesday
Wednesday
Thursday
Friday
Setups for This Week:
USDJPY
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Primary View: The price is currently fighting on the long-term uptrend line and yellow horizontal support. Price breaking below that will be a signal to sell.
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The long-term uptrend line provides crucial support.
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The yellow horizontal support has been tested multiple times, indicating its significance.
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Alternative View: Price coming back above the blue uptrend line and bouncing off yellow horizontal support would be a buy signal.
![](https://lh7-us.googleusercontent.com/docsz/AD_4nXe4bIZ8TAYyQf5eFNy0CB9zCVwU-IrIbHSKi_L_lpvcti80IlO90PR4M2dxJLbLBrBlIhO5XBx6mdLJKZlVfEYMy5Tb89R3JR8QG1aROisvcN9GLc0s0QYYTxe5vLcW3oE4VeT0rAgn61Il63NM5tOZyuGsaUE-mR3IhsdMCQ?key=NjU5mVpRAADI7JvGKfDE2Q)
CAC 40
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Primary View: The price is still inside the sideways trend marked as a black rectangle. As long as we stay below the upper line of the rectangle, there is a short-term sell signal.
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Alternative View: Price breaking from the rectangle to the upside would be a signal to buy.
![](https://lh7-us.googleusercontent.com/docsz/AD_4nXe0ly0MazSbE1rBNLxmZ2twIe1unHnJNbRM75qa0PsBo8TD_IBt2oyXbQdFbtn2mfpOxszgavQdC7KRFs8-t4V9PtXigVUXbwiucuaDxVwFsPzIL8kpjynSDZYQngqQfR53A2gF_yjOzeKaxoG5o67uHi9S_9JlFPSRHd1bPA?key=NjU5mVpRAADI7JvGKfDE2Q)
Brent Oil
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Primary View: The price is protecting and bouncing over key horizontal support marked with yellow color. As long as we stay above, there is a signal to buy.
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Alternative View: Price breaking below the yellow support would be a signal to sell.
![](https://lh7-us.googleusercontent.com/docsz/AD_4nXd6iXYtkDU8F5Q0tpYOI_-LYbgQdK_xLqxNNr4HGf3gUIEe9iBwwNq0dlBeCpO9eu9JKIv0w-UAO4knaTsk_uFZtYTwD6eFmCKmqc1r3BLJ73rgGwr8nJR6TJoLLLIHDJvM1qJYM1807tT9_SzcZLXWXXHYK3R4sVWGNQ0r3A?key=NjU5mVpRAADI7JvGKfDE2Q)