US100: Consolidated and preparing correction below 18100. Key levels on H4!
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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EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
