Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Dollar hits new 31-month low
2020-12-03 • Updated
Ichimoku Kinko Hyo
EUR/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: There is an indecision battle between bulls and bears and stands above key 50% retracement area.
US Market View
U.S. stocks are seen opening mixed Thursday, pausing around record highs as investors await more fresh news on Covid-19 vaccines and potential fiscal stimulus. Positive news over the development of Covid-19 vaccines, with the U.K. becoming the first country to approve the Pfizer-BioNTech injection for emergency use on Wednesday, have helped global stock markets post strong gains.
However, the roll out of this vaccine, and others are likely to be approved shortly, will likely take several months. The U.S. is still set for a difficult winter, with more than 100,000 people currently in hospitals across the country sick with Covid-19, for the first time ever. The dollar continued its descent, hitting a fresh 31-month low as the prospect of a recovery next year enticed ever more money out of safe havens and into foreign currencies. The euro rapidly gained another cent after breaking through $1.20 for the first time since April 2018, while the Australian dollar, Korean won won both hit new 30-month highs.
USA Key Point
- US weekly initial jobless claims 712K vs 775K expected
- The GBP is the strongest and the USD is the weakest
- Cable nears the week's highs as buyers hold on to Brexit deal hopes
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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
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...