Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
EUR/GBP: bears eye 16-month-old support
2021-02-17 • Updated
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand below the 38.2% retracement area. The bearish pressure is growing.
EU Market View
Asia-Pac equity markets traded mostly lower after the lackluster handover from Wall Street. WTI crude futures hovered around the USD 60/bbl level. The winter storm stateside is said to have hit US oil output by as much as a third. Overnight on Wall Street, the Dow Jones was helped to a record closing high by gains from banks, which benefit from higher yields.
US Treasury yields hit one-year highs on Wednesday, lending support to the dollar but pressuring lofty valuations for stocks, as investors reckoned that a stimulus-fuelled global recovery will eventually bring rising inflation. The gap over two-year yields also opened to its highest level in nearly three years, as traders figure that short-term monetary policy will stay supportive, even as the world bounces back from the pandemic.
The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
Looking ahead, highlights from the macroeconomic calendar include UK CPI, Retail Sales, Industrial Production, Canadian CPI, FOMC Minutes, Fed's Rosengren, Kaplan, BoE's Ramsden speeches.
EU Key Point
- Germany reports 7 556 new coronavirus cases, 560 deaths in the latest update today.
- US President Biden to meet with labor union leaders on investment in infrastructure.
- US President Biden on 1.9tln relief package supports ‘’now is the time to go big’’.
- EUR/USD risks a move to 1.2045.
Similar
Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...