US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
Risk-on mood remains intact
2021-01-27 • Updated
Ichimoku Kinko Hyo
CHF/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
XAG/USD: Silver consolidates between 23.6% and 38.2% retracement areas.
EU Market View
Asian equities traded mixed and attempted to shrug off the weak handover from the US where there was a slight negative bias. The global economy appears to be losing momentum a bit and there is no clear sign yet that COVID-19 infections are slowing even after vaccinations have started in some places. S&P500 futures were mostly flat, capped by caution ahead of the Fed's policy meeting as well as profit-taking on cyclical shares after stellar gains this month. The S&P500 is now trading at 22.7 times its expected earnings, near its September peak of 23.1 times, which was its most inflated level since the dotcom bubble in 2000. Today we expect U.S. Federal Reserve to stick to its dovish tone to help speed the economic recovery when it concludes its two-day policy meeting on Wednesday.
Looking ahead, highlights from macroeconomic calendar include German GFK consumer sentiment, US durables, FOMC rate decision and Fed Chair Powell press conference, NZ trade, ECB's Hakkarainen, Lane, and US. Earnings from Apple, Facebook, Boeing, Tesla, Blackstone.
EU Key Point
- France January consumer confidence 92 vs 94 expected.
- Germany reports 13,202 new coronavirus cases, 982 deaths in latest update today.
- The White House will begin regular COVID-19 briefings again from Wednesday.
- New US Treasury Secretary Yellen highlighted coordination with the Fed.
- UK to require returnees to hotel quarantine from 30 countries.
- US to purchase another 200m doses of coronavirus vaccines.
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USD: Powell Speaks on Cutting Interest Rates
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 ...
WTT: Currency Pairs To Trade In April
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.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
