Global Markets Price in Iran Deal, Focus Shifts to US Data

The DXY has entered overbought territory with its RSI14 at 71, increasing the likelihood of a short-term pullback. Although the MACD line has not yet crossed below the signal line, this could be an early sign of weakening momentum. The news headline indicates that the Iran deal is priced in and attention has turned to US data, suggesting that demand for the Dollar may ease somewhat as the geopolitical risk premium diminishes. While the price remains above the 20- and 50-day moving averages, indicating the overall trend is still bullish, overbought conditions and the news flow could trigger a correction in the near term.

SPX closed just below its 20-day moving average (7501), with RSI at 52, indicating a neutral zone. The MACD remains below the signal line, suggesting weak short-term momentum. News headlines indicate that the Iran deal is being priced in, and markets are focusing on US data, creating uncertainty. As technical indicators do not provide a clear direction, the market is expected to trade sideways.

NDX continues to trade above its 20- and 50-day moving averages, with the RSI at 60, supporting a short-term bullish trend. The MACD line remains above the signal line and in positive territory, indicating that momentum is still favorable. However, the news headline notes that the Iran deal is being priced in and markets are focusing on US data, which could introduce uncertainty. Despite a slight decline over the past 24 hours, technical indicators do not provide a clear direction. Therefore, a sideways movement is expected in the short term.