Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
EUR/USD: consolidates above key pivot point area
2021-02-01 • Updated
Ichimoku Kinko Hyo
CHF/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 faces a remarkable buying pressure after a significant breakout. Further upside move is most probably ahead.
EU Market View
A positive tone was observed in the Asia-Pac region and US equity futures recovered from the early stumble seen at the reopening. Italia Viva’s Renzi is pushing for Finance Minister Gualtieri to be replaced in discussions to forge a new coalition government led by PM Conte. This positive start to the European day comes despite two PMI releases from China showing economic activity slowed in January as restrictions took a toll in some regions.
Manufacturing PMI data is scheduled for release in Europe later Monday, and this should detail a similar loss in economic momentum for this region as coronavirus lockdowns bite. German retail sales slumped 9.6% on the month in December.
Looking ahead, highlights from the macroeconomic calendar include EZ, UK, US final manufacturing PMIs, US construction spending, ISM manufacturing, Fed's Bostic, Rosgengren speeches.
EU Key Point
- US bullion broker APMEX says surging silver demand prompts transaction delays.
- Silver closes in on $29 again to start European trading.
- Germany December retail sales comes at -9.6% vs -2.0% m/m than expected.
- US President Biden will meet with 10 Republican senators Monday package to discuss the COVID-19 relief.
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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...