The US$ has gained with flight to safety activity following gloomy US jobs and Covid data. The S&P500 remains below the all-important 2,900 – 3,000 range keeping this as the zone to watch for the week especially with this week’s NFP.

Stocks have carved out another day of gains on optimism about the re-opening of the US economy and the rise in Oil pricing. There hasn’t been a whole lot of movement across most of the Forex pairs I monitor however meaning that traders will have to choose their battles / trades rather carefully.

The S&P500 turned lower last session and there are lots of reasons being offered for this move from Apple and Amazon Earning results, rising US Unemployment and end of month profit taking. I’d like to offer another reason and this is the turn being due to resistance from the major 61,8% Fibonacci region. The next […]

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.