Tue, Jan 26, 2021 @ 08:06 GMT
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Forex Forecast and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. We published a chart seven days ago that clearly showed how the correlation between the S&P500 index and EUR/USD was broken in early January. But now everything is back to normal: the S&P500 continued its growth, reaching a historic maximum of 3859.84 on...

Elliottwave View: SPX Upside Move Has Resumed

Short Term Elliott Wave view in S&P 500 (SPX) suggests the Index ended wave 1 at 3726.70 and pullback in wave 2 ended at 3636.48. Internal of wave 2 unfolded as a zigzag. Wave ((a)) ended at 3685.84, wave ((b)) ended at 3716.65, and wave ((c)) ended at 3636.48....

NASDAQ and S&P 500 hit new record high on strong stock rallies

US stocks open sharply higher today with S&P 500 and NASDAQ hitting new record highs. NASDAQ is clearly leading the way higher. It's staying well inside near term rising channel, without clear upside acceleration so far. But as long as the channel holds, we'd expect further rise to 61.8%...

US 500 Index Fades from Recent All-Time High of 3,831

The US 500 index (Cash) is finding a foothold in the Ichimoku cloud, on the 100-period simple moving average (SMA) at 3,756, after the index receded from its latest all-time high of 3,831 under the 50-period SMA. All climbing SMAs are endorsing the positive picture, while the Ichimoku lines,...

What To Expect In The Capital Market For This Year 2021

In 2020 the capital market did not have mysteries in general, the collapse of March caused by an external agent of the financial market that commerce was interrupted, resulting in increased unemployment and company bankruptcies. In short, consumption slowed down and in certain industries it even stopped completely, such...

US 500 Index Looks Optimistic Despite Minor Retreat

The US 500 index (Cash) has retracted ever so slightly after stalling around the fresh all-time high of 3,831. Although the Ichimoku lines are revealing the ebbing in positive price action, the bullish demeanour of the simple moving averages (SMAs) is defending the positive structure. The withdrawal in price...

Dollar and Yen Weaken Again on Strong Risk-on Market

Dollar turns softer again in Asian session today as markets are back in full risk on mode. Following the record runs in US, Nikkei is also hitting new 30-year high. Yen is following as second weakest for now. However, risk appetite is not clearly seen elsewhere. Australian and Canadian...

DOW, S&P 500 & NASDAQ hit record, setting stage for strong Q1

US stocks resumed recent up trends overnight as supported by the pandemic fiscal stimulus. All three major indices, DOW, S&P 500 and NASDAQ closed at new record highs. DOW's close above 38.2% projection of 18213.65 to 29199.35 from 26143.77 at 30340.30 is taken as a sign of solid underlying...

US 500 Index Gaps Higher; Holds ATH in its Scope

The US 500 index (Cash) gapped above the 50-period simple moving average (SMA) today re-establishing a positive bearing towards the upper Bollinger band, near the recent all-time high of 3,715. The dictating bullish bearing in the SMAs remains robust even though the 50-period SMA’s upward pace is marginally easing. The...

US 500 Index Maintains Positive Bearing; Momentum Waning Slightly

US 500 index (Cash) is consolidating just below its newly formed all-time high of 3,674, finding some stability from its red Tenkan-sen line, marginally below at 3,601. The simple moving averages (SMAs) are maintaining an unbroken bullish tone endorsing further advances. However, the flattening out of the blue-Kijun-sen line...

Equities November Reign – SP500

After an equity rally of such magnitude and as bonds are set to finish the month flat there has been an expectation that asset managers who run balanced funds that consist of a 60:40 split between stocks and bonds would rebalance/reduce equity exposure into month-end. Some of the world’s largest...

Stocks Ready for Upside Breakout, But Yen Crosses Seem Not Agreeing

Politics aside, stock investors were the biggest winners of US presidential elections, while Dollar holders were the losers. The greenback ended as the worst performing one, followed by Yen by a wide margin. Australian Dollar shrugged of RBA easing and ended as the strongest, leading other commodity currencies. European...

Stocks Surge on US Elections, Dollar and Yen Weak But No Follow Through Selling Yet

Movements in the forex markets in reaction to the US elections were relatively indecisive, comparing to the strong risk-on moves in the stocks. There is no clear follow through selling in Dollar and Yen so far, while commodity currencies are struggling to extend gains. Focuses will now turn to...

NASDAQ and S&P 500 ready to resume record run, riding on election results

The US stock markets responded to US elections result in very bullish way. NASDAQ, in particular, shone with 3.85% gain while S&P 500 also added 2.21% overnight. Both indices are set to resume the record runs. NASDAQ's consolidation from 12074.06 looked completed with three waves to 10822.557, after breaching 55...

Key Levels to Watch as US Presidential Election Looms

Global equities tumbled notably last week, partly as coronavirus spread was hitting new record highs. Also of the same importance, US investor had lightened up their positions in preparation for the Presidential elections. Yen and Dollar surged broadly to end as the strongest one. Euro was the worst performing,...

Week Ahead: US Elections are Finally Here!

The major polls have Joe Biden in the lead by various amounts, but Wall Street remembers! After months of waiting (some people have been waiting years), the US Presidential Election will take place this Tuesday.  The major polls have Joe Biden in the lead by various amounts, but Wall Street...

Prices Don’t Always Move in a Straight Line: S&P 500, EUR/USD, AUD/USD

Stocks are lower today and the US Dollar is higher today as fears of contagion from the coronavirus and the possibility of more national lockdowns are taking hold (It was just recently released that Germany’s lockdown will begin on Monday and France is preparing a Stay-at-Home order).  This may...

Chaotic Markets With Many Themes Going On

It's a rather chaotic week with many themes developing. The first October surprise of US President Donald Trump's coronavirus infects seemed to have fade as he's back in election campaign. Just as challenger Joe Biden appeared to be widening lead, according to mainstream polls, another October surprise surfaced with...

Dollar Tumbled as Investors Hungry for Risks, Down Trend Resuming?

Yen and Dollar ended the week as overwhelmingly the worst performing ones. Despite all the jitters regarding US President Donald Trump's coronavirus infections, stimulus talks stalemate, major stock indices ended the week strongly higher. Yen is additionally pressured by strong rally in treasury yields too. On the other hand, Canadian...

US Stocks: Don’t Stop Believing

S&P 500, Dow Jones index set to post second consecutive weekly gain. Stocks fuelled by hopes over US fiscal stimulus. 'Blue Sweep' optimism capped by major upcoming risks. US and European equity futures are rising, although Asian stocks are mixed, as investors hold on to hope that the US...

US 500 Index Turns Red After Five Months, May Heal Some Injuries In Near-Term

The US 500 index (cash) has been printing a series of lower lows and lower highs since the start of September in the four-hour chart, reaching a two-month low of 3,209 last week. Although the index has secured a negative monthly close for the first time in five months, it...

SP500 Remains Vulnerable To Another Leg Lower

Overshadowing the Feds renewed commitment to ultra-dovish policy, investors remain cautious due to some of the factors listed below. Fading hopes that a 4th stimulus package will be agreed before the November 4th U.S. election Brexit negotiations in Europe A second wave of the virus in Europe Uncertainty around...

Dollar Down Trend, Stocks Up Trend Still Intact after Roller-Coaster Ride

Markets experienced a roller-coaster ride in the first week of September. S&P 500 and NASDAQ extended record runs and it looked like DOW was on the way for a catch-up. Then technology stocks led a steep selloff towards the end of the week and pulled all indices sharply lower....

US Elections: A Simple Guide and Market Implications

The 3rd of November is the day that American citizens will decide who will lead their country for the next four years. Opinion polls suggest Biden will win, but Trump is quickly closing that polling gap in key battleground states and betting markets imply that the race is too...

Week Ahead: September Begins with a Bang!

Monday is a bank holiday in the US and Canada and marks the unofficial end of summer.  Many traders will be back in the office this week after August holidays, even amid the coronavirus pandemic.  Stocks were the story last week, as major index retreated from at or near...

US 500 Index Logs New All-Time High; Bullish Bias Intact

US 500 index (Cash) broke above 3,396.64, accelerating over the last week towards a fresh all-time high of 3,526.31. The advancing Ichimoku lines reflect a sturdy positive tone above the cloud. Moreover, the recent bullish crossover of the 200-day simple moving average (SMA) by the rising 100-day one could...

S&P 500 Hit Record, Forex Markets Yawn in Range

Coronavirus vaccine optimism sent US stocks to record high overnight but the positive sentiments are not carried forward to Asia. The forex markets are also treading water, with major pairs and crosses stuck inside last week's range. US and Canadian Dollars are the relatively weaker ones while European majors...

S&P 500 hits record on vaccine hopes, heading to 3643 next

S&P 500 finally took out 3393.52 key resistance with conviction, and closed up 1.00% at 3431.28 record high. Optimism on coronavirus treatment boosted sentiments in general. In particular, shares of AstraZenca surged nearly 2%, boosted by reports that US is considering fast-tracking its coronavirus vaccine candidate. Technically, the focus now...

Not Dovish Enough FOMC Sets Up Possible Double Top In S&P500

Disappointment centred on the absence of discussion around extending the maturity of asset purchases and lukewarm enthusiasm for the implementation of yield curve control (YCC). The prospects of both have been instrumental in driving real yields lower. Without these twin anchors, the FOMC minutes cut free the portfolio of trades...

Dollar Rebounds but Reversal Not Warranted Yet, Gold and Stocks Fall

Dollar staged a strong rebound overnight, reversing all of prior day's losses. The uninspiring FOMC minutes were a lift in a way that it provided no dovish elements for further selloff. Yet, the greenback is kept well below near term resistance levels against all major currencies. It also remains...