
A new trading week is coming…
Bloomberg says yesterday’s movement was so far the wildest. It was the first time in history for the US500 to crash by 2% and close the day 2.8% above the neutral line. There’re several possible reasons for the move. First is an enormous amount of PUT options (an option that profits when an asset falls). Even a slightly good reading may cause a squeeze when most traders are shorting.
The second possible reason is good expectations for the upcoming earnings season. Today, Citigroup, Wells Fargo, and JP Morgan will release their earnings before the market open. Banks usually benefit from high inflation. However, the housing market is under pressure, raising concerns about banks’ revenue expectations.
The US500 chart looks great for short-term traders. On the M15 timeframe, we can look for a reaction on the support area and a bounce to the 50-period MA. After that, we expect a decrease because many traders bought the index yesterday and will try to close part of their orders before the weekend.
US500 M15 chart
Resistance: 3680, 3700
Support: 3640
Subscribe to the FBS Analytics Telegram Channel, where I post more daily trade ideas!
A new trading week is coming…
News is always important part of the market. What do we expect today?
What a day was yesterday! Let’s jump right in!
News is always essential. Especially when we speak about the FOREX market. What is the most important information for today? Let's see together.
Forex, Crypto, Metals, and Stocks News for March 29. Here’s what you need to know for today:
The news is essential if you want to trade. Don't miss our digest, where we'll tell you about the most interesting events, happening right now.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.