Trade Ideas to Follow This Week

Trade Ideas to Follow This Week

2021-08-30 • Updated

EUR/USD

4H chart

EURUSDH4.png

EUR/USD surged after Powell’s speech on Friday. At the moment, it is trading around the key resistance of 1.18. Led by European countries' CPI and GDP reports during this week the EUR might get stronger and push the pair higher. If it breaks through the way to 1.182 and 1.185 will be open. Otherwise, we might see a pullback down to 1.177 and 1.175.

Brent

4H chart

XBRUSDH4.png

Oil demonstrated the best week since the beginning of the Covid-19 pandemic. It also opened with a big gap on the Monday trading session but managed to close it shortly. It played out all the bearish divergences and at the moment there are no signs of the upcoming pullback. The upcoming OPEC+ decision about supply reduction might push it even higher. $72.5, $73.2, $74.1, and $75 are the main targets.

Alibaba

Alibaba is still under pressure from the Chinese government, but concerns get easier as time pass. During last week Alibaba has been trading sideways and by the end of the week closed at the same price level as opened at the beginning. This week might define the middle-term trend for Alibaba stock price.

4H chart

ALIBABAH4.png

The RSI “swing rejection” pattern may occur on the 4H chart. As soon as 4H RSI closes above 42.86 (on condition it doesn’t drop below 30) this pattern will be proved. In this case, the targets will be $182 and $200.

Bitcoin

Daily chart

BTCUSDDaily.png

The bearish divergence occurred on Bitcoin daily chart.

4H chart

BTCUSDH4.png

The asset has formed the support line. If the price closes below this support, it will be a bearish sign for Bitcoin. In this case, it will drop to $46 900, $46 000, and $44 500, which are the main support levels for now.

$49 300 - $49 500 is a massive resistance range at the moment. If the price comes there, it will be a good opportunity to open a short trade.

TRADE NOW

Similar

Stocks To Watch For March
Stocks To Watch For March

During his program on CNBC on February 28, Jim Cramer expressed frustration with the impact of earnings reports on market behavior, noting how they often prompt rash decisions by average investors. He criticized the short-term focus and lack of attention to nuance in news coverage of earnings. Cramer cited examples of Home Depot and Lowe's, highlighting how investors reacted hastily to headline news without considering the broader context provided in earnings calls.

How will the reporting season affect US indices?
How will the reporting season affect US indices?

Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.

Latest news

USD: Powell Speaks on Cutting Interest Rates
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
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.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

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!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera