US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
OIL: storms and prices
2020-10-09 • Updated
Oil dropped below $37 per barrel at the beginning of September. By the middle of the month, it was in $41. October saw it drop to the same range of $36.50-37, just slightly higher. Finally, now we are witnessing it come again to $41-41.15. So the question is: will bounce down again as it did three weeks ago, or it will break the resistance and aim at $43.50?
Hurricane Delta seems to leave little room for doubts: the price will rise. This category 3 storm in the Gulf of Mexico has forced the emergency shutdown of many businesses, including those of oil extraction, many of which are located in the south of the US – exactly where the hurricane is expected to hit. Therefore, this temporary stall of oil production will lead to a consecutive local shortage of oil supply, tilting the balance towards higher prices. In case you like geopolitics, this is happening at the background of the OPEC emerging from the virus with the high market share as many US oil producers had to discontinue their business because of low prices in the previous months. In this sense, Delta boosts the oil price and the OPEC’s tactical position at the same time.
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Bearish Scenario: Sell below 39600... Anticipated Bullish Scenario: Intraday buys above 39750... Bullish Scenario after Retracement: Intraday buys above 39150
US100: Consolidated and preparing correction below 18100. Key levels on H4!
Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
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USD: Powell Speaks on Cutting Interest Rates
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 ...
WTT: Currency Pairs To Trade In April
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.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
