Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
US Stimulus Talks Are Expected in the Day Ahead
2020-10-08 • Updated
Ichimoku Kinko Hyo
CAD/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 after a remarkable correction stands above 38.2% retracement area. The new stimulus by US will help gold to move higher.
US Market View
US stock markets are indicated to open higher, still supported by hopes of support for the US economy after the administration’s abrupt pivot on Wednesday. President Donald Trump signaled a willingness to negotiate piecemeal bills to support the economy, having broken off talks with House Democrats about a comprehensive stimulus package a day earlier. The number of people with a direct interest in a stimulus check is likely to remain elevated when this week’s jobless claims numbers are published at 8:30 AM ET (12:30 GMT).
US Key Point
- Stocks and bonds grind higher awaiting the next chapter of the stimulus saga
- SNB's Jordan says the supply of money can be reduced at any time if demand for Swiss franc weakens
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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...