Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Pound slightly softer as the Brexit saga drags on
2020-11-27 • Updated
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a new bullish outlook.
Fibonacci Levels
XAU/USD: Gold sell off gains’ momentum. Bears control market.
US Market View
U.S. stocks are set to open higher Friday, although gains are likely to be limited with the market set to close early in the aftermath of the Thanksgiving Holiday. Generally positive coronavirus vaccine news and emerging political certainty in the U.S. have prompted strong gains on Wall Street, with the Dow Jones Industrial Average topping the 30,000 mark for the first time earlier this week. Sterling remains near three-month highs against the U.S. dollar, despite U.K. Finance Minister Rishi Sunak’s horrific spending review a couple of days ago. Crude oil prices traded mixed Friday, but still close to their post-pandemic highs as attention turns to next week’s crucial meeting of OPEC+.
President Donald Trump said on Thursday he will leave office if the Electoral College votes for President-elect Joe Biden. This is the closest he has come to conceding the election, and adds to the feeling of normalcy returning to U.S. political circles. It’s Black Friday, traditionally the busiest shopping day in the United States, but this being 2020, things are set to be different.
Pictures of shoppers fighting to get into shops in the search for bargains have been the staple of news channels for years, but Covid-19 restrictions have forced shops to divert most purchases online. Many major retailers, hit hard by the pandemic, started offering their Black Friday promotions much earlier than usual, taking their lead from Amazon (NASDAQ:AMZN) hosting their Prime Day in the middle of October, in order to capture as much holiday-related trade as possible.
USA Key Point
- Germany to expand coronavirus aid for companies
- NZD is the strongest and the GBP is the weakest
- Cable falls to session lows as sellers wrestle back near-term control
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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...