The main item of note since my last update is the signing of a US Covid relief bill. Stocks have drifted higher on this news although the details of the Bill remain to be finalised. Most other charts are little changed except for a pullback on GBP pairs. This is just a brief holiday week […]
Silver has caught my eye this week as price action shapes up in a weekly chart congestion pattern and it could be worth watching for any new momentum-based trend line breakout. Traders also need to keep an eye on the US$ index, however, as it is shaping up in a bullish-reversal chart pattern that, if […]
Thin trade made for choppy conditions in the lead up to the Christmas holiday break and weekend updates about revised Covid lock-downs contributed to this choppiness as well. The GBP pairs have been rather volatile on the back of ongoing post-Brexit trade talks and revised Covid lock-down news so keep monitoring for updates here. Many […]
The US$ was lower after the FOMC update and the Fed commitment to continue support as traders now wait for a decision about US Covid relief. Many instruments are little changed and hovering near key levels but Bitcoin seems to be bucking the trend with a continuation move after the recent breakout from the Bull […]
Market action has been pretty much sideways to start the week following on from the similar action of last week. I am reading that the concern over increased Covid-induced US lock-downs is moderating enthusiasm about the Vaccine roll-out. Don’t forget that there are four Central Bank updates this week, with FOMC as the major one […]