US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
Chinese Economic Prospects Boost Higher Aussie
2020-11-17 • Updated
Ichimoku Kinko Hyo
CHF/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’s volatility has increased. Despite the recent sharp selling pressure, bulls appear resilient and keep price at the 38.2% retracement area.
EU Market View
Asia-Pac stocks extend on gains after the fresh record levels on Wall St where cyclical outperformed on vaccine optimism following the announcement that Moderna's Phase 3 vaccine efficacy rate was at 94.5%. Looking ahead, highlights from the macroeconomic calendar include US retail sales, industrial production, OPEC JMMC, ECB’s de Guindos, Lagarde, BoE’s Bailey, Ramsden, Fed’s Daly, Williams, Rosengren speeches. The vaccine news helped the risk-friendly Australian dollar, which climbed to a one-week high against its US counterpart. Rising virus case numbers in the United States clouded views on the dollar, which dropped against a basket of major currencies.
EU Key Point
- Germany's Braun says government to push for tighter virus restrictions next week
- US futures a little lower ahead of European morning trade
- Eurostoxx futures -0.4% in early European trading
- Fed chair Powell to speak later in the day
- Germany reports 14,419 new coronavirus cases in the latest update today
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Bearish Scenario: Sell below 39600... Anticipated Bullish Scenario: Intraday buys above 39750... Bullish Scenario after Retracement: Intraday buys above 39150
US100: Consolidated and preparing correction below 18100. Key levels on H4!
Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Latest news
USD: Powell Speaks on Cutting Interest Rates
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 ...
WTT: Currency Pairs To Trade In April
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.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
