Quadruple witching is gone and now there are no reasons for the market to hinder. From banks statements and economic data to gas storage reading and Fed’s Powell speech – get ready for active trading.
Market updates on November 22
Key events ahead
British CIPS Manufacturing PMI Flash – 11:30 MT time (09:30 GMT)
Canadian Monthly Retails Sales – 15:30 MT time (13:30 GMT)
- On the H1 chart of EURUSD, the price dropped to the level of 1.1056 yesterday evening, then went up into a correction. If the next Parabolic indicator’s mark completes as the third in the row in the upward direction that will reconfirm the bullish trend. In this case, the bulls may have 1.1081 and 1.1092 as the resistance levels. The bears may locate the support levels at 1.1062 and 1.1056.
- On the H1 chart of USDCAD, the Stochastic Indicator shows the fast line crossing the slow line upside down within the oversold zone. That means that the price will be soon under pressure down. If the downward movement breaks through the local support levels of 1.3271 and 1.3263, it will have the next target at 1.3202. The resistance levels may be located at 1.3288 and 1.3324.
- On the H1 chart of GBPUSD, the price shows a sideways movement above the support level of 1.2893. If the British economic data to be released today is positive, the GBP may gain strength and aim at the resistance levels of 1.2932 and 1.2964. Otherwise, an additional support level may be placed at 1.2873.
The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.
The United States will release MoM Retail Sales data on September 16, 15:30 GMT+3.
A selloff in stocks stopped. S&P 500 has reversed up from the 100-day moving average. It should be the perfect time to buy the index.
Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
The FOMC, a committee within the Federal Reserve, will hold an important meeting and press conference on September 22 at 21:00 MT time (GMT+3).