Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
$1.9 tln stimulus is unlikely to support the USD in long term
2021-01-15 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading below the cloud. Further bearish pressure will lead the currency pair to retest the previous lows.
Fibonacci Levels
XAG/USD: Silver is struggling to move higher and remains below the 38.2% retracement area.
European Market View
Asian equity markets were subdued after failing to shrug-off the weak lead from the US where major indices were dragged lower. Asian shares stumbled lower in afternoon trade on Friday, reversing earlier gains as rising COVID-19 cases in China reinforced investor concerns over the prospects for a global economic recovery. Earlier on Friday, an Asian regional share index had edged near record highs after US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19. Looking ahead, highlights from the macroeconomic calendar include UK GDP, US retail sales, NY Fed manufacturing, industrial production, Uni. of Michigan, earnings from JP Morgan, Wells Fargo, and Citigroup.
EU Key Point
- UK November monthly GDP -2.6% vs -4.6% m/m expected
- Germany reports 22,368 new coronavirus cases, 1,113 deaths in the latest update today
- The UK is preparing to vaccinate up to half a million people a day from next week
- Italian PM Conte is reportedly set to face a vote of confidence on Monday
Similar
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.
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...