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) ...
AUD/USD is dropping after the RBA decision and statement
2021-02-02 • Updated
Ichimoku Kinko Hyo
AUD/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 after yesterday’s rally is trading above 38.2% retracement area.
EU Market View
Asian equity markets advanced after the firm handover from Wall St with the resurgence led by the tech sector. European stock markets are seen opening higher Tuesday, helped by signs of progress towards further U.S. stimulus, while concerns over volatile retail-led trading receded. U.S. President Joe Biden sat down late Monday with a group of ten Republican senators to discuss their proposal of a scaled-back Covid-19 stimulus package, in a welcome sign of bipartisan co-operation in Washington.
That said, Biden insisted on keeping the $1.9 trillion price tag that he proposed in January, saying that the downsized effort does not go far enough to solve the coronavirus crisis. And senior Democrats later filed a joint $1.9 trillion budget measure in a step toward aimed at bypassing Republicans.
Oil prices pushed higher Tuesday, helped by newswire reports that the major oil producers have shown restraint in terms of production levels in January even as prices rose.
Looking ahead, highlights from macroeconomic calendar include Eurozone GDP, OPEC JTC meeting, Fed's Kaplan, Williams, Mester, speeches.
EU Key Point
- Silver in retreat, falls by 4% back below $28.
- EU's von der Leyen: Target is to vaccinate 70% of adult population in Europe by summer.
- Germany reports 6,114 new coronavirus cases, 861 deaths in latest update today.
- The Reserve Bank of today Australia said the cash rate is not expected to rise until 2024.
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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...
