Daily trading market analysis

MARKET OVERVIEW

1. Stock Market:

• Vietnam Market: The market is in a downtrend; it is advisable to limit stock purchases at this time. There may be opportunities to short sell the VN30F1M futures index.
• U.S. Market: The market is currently in an accumulation phase and showing signs of short-term price increases. The DJI and NDX indices showed no significant difference between their opening and closing prices yesterday. If there is an early upward momentum in tonight’s trading session, buying opportunities may arise. TSM stocks can be considered for short-term buying.

2. Forex:

• AUD/USD is forming a short-term downtrend. Selling opportunities align with the trend today. Daily resistance: 0.6300
• EUR/USD is forming a short-term downtrend. Selling opportunities align with the trend today. Daily resistance: 1.08600
• USD/JPY maintains an uptrend in both the short and long term. Buying opportunities align with the trend today. Daily support: 148.700

3. Gold:

• Yesterday, gold exhibited significant price fluctuations, with spot gold prices ranging between $3,030 - $3,060 per ounce. Today, gold shows signs of declining. Short-selling opportunities may arise in the short term; however, if the price falls below $3,030, short positions should be avoided.

4. Oil:

• XTI/USD remains in an uptrend both in the short and long term. Buying opportunities align with the trend today. Daily support: 67.80

5. Bitcoin:

• Bitcoin (BTC) experienced significant volatility, fluctuating between $83,000 and $87,450 across different exchanges. Key market drivers include economic uncertainty and geopolitical tensions. Today, short-term selling opportunities may arise.

TRADE PLAN

1. BTC

• Trend: Bearish
• Recommendation: Sell at $85,000
• Stop Loss: $86,000
• Take Profit: $83,000
• 

2. USD/JPY

• Trend: Bullish
• Recommendation: Buy at 148.960
• Stop Loss: 148.660
• Take Profit: 149.560
• 

TODAY'S KEY EVENTS

• 4:00 PM EUR – Eurozone Current Account
• 7:30 PM CAD – Core Retail Sales (MoM)

DISCLAIMER

• The above analysis represents only the personal views of analyst Tony from Lotus and should not be considered a basis for real-market trading.
• Lotus provides only technical analysis and trading education for learners.
• Lotus does not represent any securities firm or asset management company.
• Lotus does not manage funds on behalf of learners.