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) ...
Risk on Returns in European session
2020-11-13 • Updated
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAU/USD: Gold continues to trade in a range bound mode while bulls hesitate to move market higher.
EU Market View
Asian equity markets weakened on spill-over selling from Wall Street; Hong Kong lagged. Looking ahead, highlights from macroeconomic calendar include Eurozone Employment and GDP (Flash), US University of Michigan, Fed's Williams and Bullard speeches. The United States has reported fresh daily records for new COVID-19 case hospitalizations this week, prompting cities and states, including Chicago, Detroit and California, to re-impose public health restrictions.
European officials have also warned against complacency and said measures to control infections must continue despite hopes that vaccines under development could help to slow the spread of the novel coronavirus.
U.S. Federal Reserve Chair Jerome Powell said on Thursday during a discussion with other central bankers that progress in developing a coronavirus vaccine was welcome news but that near-term economic risks remain as infections accelerate, underscoring the likely need for additional government stimulus.
EU Key Point
- German health minister supports that it is too early to evaluate if restrictions should be extended or lifted
- Germany reports record 23,542 new coronavirus cases in latest update today
- Former China fin min says that US-China trade friction won't necessarily ease even with the new US president
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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...
