Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Is the short dollar squeeze turning the corner?
2021-02-09 • Updated
Ichimoku Kinko Hyo
EUR/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 shows some significant moves higher. Now it is trading between the 23.6% and 38.2% retracement area.
EU Market View
Asian equities were mostly positive after the stimulus-driven momentum on Wall St. which lifted all major US indices to fresh unprecedented levels. Oil prices edged up to their highest in 13 months on Tuesday as supply cuts by major producers and optimism over fuel demand recovery support energy markets. Both Brent and WTI are at their highest since January 2020. Front-month prices for both contracts are up for the seventh session on Tuesday, the longest win streak since January 2019. Auto sales in China, the world's biggest market, surged in January with a 30% jump from the same month a year earlier, the tenth month of gains, as China continued to lead the global automobile industry's recovery from the COVID-19 pandemic. The French economy is still on course to rebound 5% this year despite the uncertainty created by the coronavirus pandemic, the head of the central bank said on Tuesday, reiterating its December forecast.
Looking ahead, highlights from the macroeconomic calendar include German trade balance, US NFIB Business Optimism, ECB's Lane, Fed's Bullard, supply from Germany & the US, earnings from Total, Cisco, and Twitter.
EU Key Point
- Italy's Berlusconi supports that Draghi saved the euro, has a great capacity to manage difficult situations.
- French central bank estimates that the economy is operating 5% below pre-crisis levels in February.
- Germany reports 3 379 new coronavirus cases, 481 deaths in the latest update today.
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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...