Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
Market’s Euphoria Keeps Going Despite a Lack of New Stimulus
2020-10-07 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
Fibonacci Levels
XAU/USD: Gold stands below 38.2% retracement area and seems that after some correction moves higher.
EU Market View
US stocks slumped after US President Trump announced that he is to walk away from COVID relief talks until after the election. Looking ahead, highlights from macroeconomic calendar include German Industrial Output, DoEs, FOMC Minutes, ECB's Lagarde, Fed's Williams, Kashkari, Evans, supply from UK, Germany. US House Democrats stated that Facebook (FB), Amazon (AMZN), Alphabet (GOOG), Apple (AAPL) enjoy ‘monopoly power’ and recommended big changes.
EU Key Point
- Germany August industrial production -0.2% vs +1.5% m/m expected
- US futures creep a little higher ahead of European trading
- Germany reports 2,828 new coronavirus cases, another 16 deaths in latest update
Similar
Bearish Scenario: Sell below 39600... Anticipated Bullish Scenario: Intraday buys above 39750... Bullish Scenario after Retracement: Intraday buys above 39150
Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
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...