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...
USD/JPY keeps a slight bounce of its 100-day moving average
2021-02-12 • Updated
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAU/USD: Gold after further weakness is trading below 23.6% retracement area.
US Market View
World shares dipped on Friday as investors awaited progress towards more U.S. fiscal stimulus, while the dollar was set for a weekly loss. U.S. stocks are set to open with light profit-taking at the end of another broadly positive week, punctuated by bursts of retail investor frenzy. Central banks across the world are clearer of late that their policies will be accommodative even beyond the current emergency period and this is further supportive for risk assets.
Markets in China and most of Southeast Asia were closed for the Lunar New Year. China's stock and bond markets, foreign exchange and commodity futures markets are closed through Feb. 17 for the holiday.
U.S. weekly unemployment claims fell less than expected and core consumer prices rose at a slower pace, causing some traders to temper their optimism about the economic outlook. House Speaker Nancy Pelosi said the Democrats’ proposal for a $15 minimum wage will be in the final draft of the stimulus package when the House debates it. The proposal, if implemented, could have far-reaching impacts on the structure of consumer spending in the U.S., along with risks to low-wage employment.
The British economy contracted by the most in over 300 years last year due to a combination of the pandemic and lower business investment due to the Brexit uncertainty. The Russian ruble fell after Foreign Minister Sergey Lavrov said the country was ready to break off diplomatic relations with the European Union.
USA Key Point
- The USD is the strongest and the NZD is the weakest.
- Japan health minister says aim to give official approval to Pfizer vaccine as early as Sunday.
- Gold turns lower as the dollar firms.
Similar
How will the reporting season affect US indices?
Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
Stocks to trade in July
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
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...
