There is a saying that markets are ‘forward looking’ and that has certainly been the case in the last session. Weak US GDP and US food shortage concern was shrugged off in favour of hope of a Covid-19 treatment and a re-opening economy. The S&P500 is now in the vicinity of the key 61.8% fib […]
Both the US$ and S&P500 are struggling under key resistance levels and this is dictating activity across the markets. Watch to see if today’s FOMC impacts here.
US stocks closed higher on optimism about the economy re-opening but the US$, although lower on the day, remains range-bound near 100 S/R. This bit of US$ weakness did trigger some small trend line breakouts. The S&P500 is almost up to the key 61.8% Fibonacci level so, as per my weekend analysis, watch this region […]
Last week: The US major stock indices of the S&P500 and DJIA remain in focus as traders and analysts around the world watch to see whether this latest price action is shaping up as a V-shaped recovery or a dead cat bounce. This uncertainty kept price action on many trading instruments in range-bound chart patterns […]
The US$ index has closed higher for the week BUT the low levels of momentum across both the DXY and EURX make this move rather questionable. Forex traders need to keep an eye on momentum and wait for any uptick before there can be much conviction with any trend line breakout movement. The three Central […]