US stimulus has resulted in a lower US$ and a second day of gains for stocks. The Covid-19 situation has a long way to go for most western countries so this latest risk-on enthusiasm should be taken with extreme caution. As always, adjust trade size and risk appropriate to these volatile and uncertain market conditions.
One of my subscribers asked me to review a couple of ASX stocks for him this morning so, with our ASX-200 index trying to hold near major 4,600 / 4,700 support, I thought I’d cast me eye over a few other stocks as well. This particular support level held for the index back in the […]
Most global stocks indices traded lower to start the week with the continued risk-off sentiment due to Coronavirus. Gold finally caught a flight to safety bid though and gave a great trend line breakout and TC signal as well. Many of the other instruments I monitor are little changed and trading on declining momentum.
Last week: The heightened volatility and risk-off sentiment helped deliver a number of trend line breakout trades from charts profiled in my last weekend’s analysis. These include a 530 pip breakout move on the AUD/JPY, a 450 pip breakout move on the EUR/USD, a 300 pip breakout move on the GBP/JPY, a $9.50 breakout move […]
The ASX-200 has retraced to a significant potential weekly-chart support level and so I thought the Index warranted a deeper review and a post of its own. I say potential because this support level held back in the 1987 and Global Financial Crisis (GFC) pullbacks. There is no guarantee that it will hold this time […]