US Federal Judge stopped TikTok's ban

US Federal Judge stopped TikTok's ban


  • The market sentiment has improved because of the progress in US fiscal stimulus talks and China’s steady industrial recovery. Profits of Chinese industrial companies grew for the fourth month in a row. However, Chinese firms are still under pressure amid simmering US-China tensions.
  • The most debated topic today is Trump’s ban on TikTok. The US Federal Judge temporarily stopped the Chinese app’s prohibition, which was scheduled for today’s midnight. TikTok’s owner, ByteDance, claimed that they would further fight for the company’s rights. By the way, 100 million Americans have already downloaded TikTok.
  • Among other developments, US officials agreed to resume talks over US fiscal stimulus on late Friday. That added some optimism to the market and stocks especially.
  • The British pound gained on the recent progress in Brexit talks. UK officials are quite optimistic about the soon agreement.
  • The Euro is dipping amid rising virus infections in the Euro area and the ECB’s interest in the lower currency. All attention to the speech of ECB’s President Christine Lagarde at 16:45 MT time.
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Technical tips


EUR/USD has reached low levels of late July, but then reversed to the upside. If it jumps above the high of September 25 at 1.1675, the way towards the key psychological mark of 1.1700 will be open. In the opposite scenario, the move below 1.1615 will drive the price to the next round number at 1.1600. The RSI indicator points that the pair isn’t oversold yet, therefore the further falling remains intact. The ECB’s statement will add fresh volatility this evening.


S&P 500

S&P 500 has been edging higher for the third day in a row. The stock index may be constrained by the 50-day moving average at 3 350. However, if it manages to break it, the way towards the high of September 15 at 3 400 will be open. Support levels are 3 250 and 3 200.



XAU/USD has failed to cross the support of $1 860 so far. If it manages to do it, it may fall to $1 840. Otherwise, the move above the key psychological mark of $1 900 will drive the pair upwards to the 50-day moving average at $1 940.



The British pound has started the week on the positive footing. GBP/USD has bounced off the key support on the intersection of 100- and 200-day moving averages at 1.2720. It approaches the significant resistance of 1.2800. If it manages to cross it, the way towards the 50-day moving average at 1.3000 will be clear.


Follow the ECB meeting at 16:45 MT time!



USD Holds the Line
USD Holds the Line

The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now. 

US Dollar Prepares for the Pump
US Dollar Prepares for the Pump

On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies. 

Uptrend in Gold Starts Now
Uptrend in Gold Starts Now

Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!

Latest news

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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