Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
USD/JPY consolidation period remains intact
2020-12-11 • Updated
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.
Fibonacci Levels
XAU/USD: Gold consolidates on the 38.2% retracement area the last day. Seems that bullish momentum declines recently.
European Market View
Asian equity markets traded mixed following a similar subdued performance on Wall Street. EU leaders agreed on a compromise involving the EU budget and rule of law with Poland and Hungary, unblocking the recovery package. US Senate Majority Leader McConnell reportedly doesn’t see a path on the two main sticking points (aid to states/cities and liability protections). Looking ahead, highlights from the macroeconomic calendar include US PPI, Uni. of Michigan, Fed's Quarles, ECB's Lagarde, ECB Council Summit. The ECB increased the overall size of its Pandemic Emergency Purchase Programme (PEPP) by 500 billion euros to 1.85 trillion euros and extended the scheme by nine months to March 2022.
EU Key Point
- The German government, states to discuss new virus measures this weekend
- ECB's Villeroy that ECB is vigilant about the euro exchange rate
- The BOJ is likely to extend corporate funding aid schemes
- Germany sees a jump to record daily coronavirus cases alongside the deadliest day of the pandemic
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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...