Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Dollar is firmer, reflation bets climb
2021-02-09 • Updated
Ichimoku Kinko Hyo
CAD/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 the 23.6% retracement area.
US Market View
The US is ready for “extreme competition” with China over the next four years, President Joe Biden said at the weekend. In an interview with CBS, Biden appeared to suggest that US policy toward China will be less confrontational than under his predecessor but will not differ significantly in its aims.
US stock markets are set for a run at new record highs on Monday, against a backdrop of an improving public health picture and the steady progress of President Biden’s $1.9 stimulus package.New infections of Covid-19 fell to under 100 000 for the first time in nearly three months at the weekend, while the strain on hospital capacity also eased further, with only 81 000 admissions, its lowest since late November. On the downside, AstraZeneca reported its vaccine had limited efficacy against the new variant of the virus first identified in South Africa.
Crude oil prices hit $60 a barrel for the first time in a year, as part of a multi-faceted rally in risk assets across global markets. Prices were supported by Biden’s tough-sounding words on Iran, which took the edge off fears for a quick resumption and ramp-up of Iranian oil exports.
USA Key Point
- The USD is the strongest and the GBP is the weakest.
- Bitcoin soars to fresh all-time high on Tesla investment.
- Merkel: Virus infections must come down for another two more weeks.
- The cable retreats below 1.3700 on firmer dollar, tests key near-term level.
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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...