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) ...
Dollar Holds Mildly Weaker
2020-11-13 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading much below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAG/USD: Silver during the last hours is trading higher close to the key retracement area of 38.2%.
US Market View
U.S. stock markets are indicated to open higher on Friday at the end of a topsy-turvy week in which the initial euphoria on finding an effective vaccine against Covid-19 has buckled under the weight of the bleak short-term outlook. Overnight, Chinese stocks had fallen after the Trump administration issued a new blacklist of companies deemed to be facilitating the Chinese military. U.S. entities will be banned from investing in the companies.
European markets were mixed, supported by confidence in more stimulus from the European Central Bank but held back by growing doubt over the ratification of the 750 billion-euro EU Recovery Fund.
The number of new infections of Covid-19 in the U.S. hit 150,000 for the first time, as cities and states moved at various speeds to contain the latest wave of coronavirus. China beat the Republican Party to congratulating Joe Biden on his election victory, nearly a week after the counting process all-but confirmed the results of Tuesday’s vote.
US Key Point
- German government spokesman says that no easing of virus restrictions is possible yet
- Equities climb higher in European morning trade
- ECB's de Cos supports that upcoming macroeconomic projections in December likely to be revised downwards
- Italy reportedly set to extend regional lockdown system beyond 3 December
- ECB's Schnabel supports that ECB is going to be there for as long as it is necessary
- GBP/USD still playing within the near-term range
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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...
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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...
