The USD has become soft. What's the tactical outlook against its main counterparts?
S&P: about to boom?
2020-11-23 • Updated
Have you noticed this W-shaped trajectory of the S&P? Last time, in summer, once it was completed, there was a small period of downward correction right at the end of the W – you may see it marked by the double red line. After that small drop, the S&P went boosted upwards.
Currently, we are right at this local drop at the end of the W-shape. So let’s test our hypothesis of the pattern repetition: if it’s true, the S&P should go upwards all-in as early as next week. Get prepared!
The progress on the COVID-19 vaccines and hopes of a swift economic rebound next year added to the optimistic sentiment in the market.
There are a lot of movements in the currency market now - therefore, a lot of opportunities. Let's see how the USD trades against its peers and how to use that in the short-term.
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