Source: PaxForex Premium Analytics Portal, Technical Insight U.S. stock indices closed Wednesday's trading at record highs after the inauguration of U.S. President-elect Joe Biden, who became the 46th president of the country. The Standard & Poor's 500 rose 52.94 points (1.39 percent) to 3,851.85 points. S&P 500, H4 Pivot: 3855.00 Analysis: Provided that the index is traded above 3816.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 3855.00 Take Profit 1:...
Source: PaxForex Premium Analytics Portal, Technical Insight Britain: annual CPI increased 0.6% in December: British CPI rose 0.6% y/y in December vs. +0.5% forecast; Monthly CPI rose +0.3% in December vs +0.2% forecast; GBP/USD trades near daily highs of 1.3669 after data release; According to the Office for National Statistics, Britain's CPI rose 0.6%/year in December vs. +0.3% in November and a forecast of +0.5%; Monthly growth was +0.3% vs. +0.2% forecast and -0.1% previously; Growth in...
Source: PaxForex Premium Analytics Portal, Technical Insight Gold prices are rising on the prospect of extended fiscal stimulus and continued accommodative monetary policy in the U.S., but are holding near the 1.5-month low reached earlier due to the rising dollar. GOLD/USD, 30 min Pivot: 1845.00 Analysis: Provided that the price is above 1836.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1845.00 Take Profit 1: 1857.00 Take Profit 2: 1865.00 Alternative...
Source: PaxForex Premium Analytics Portal, Technical Insight Yellen: As rates remain at historic lows, the smartest thing to do is to pass a massive bailout program: Called on Congress to act to support the economy; The former Fed chair emphasized that low rates allow action; Plans to create a competitive economy to create jobs; Promises to focus on the needs of American workers; Will work overtime to create a second bailout package. EUR/USD, 30 min Pivot: 1.2144 Analysis: Provided that the...
Source: PaxForex Premium Analytics Portal, Technical Insight U.S. indices are showing no unified momentum as concerns about potential tax hikes could limit the market's potential for further growth, analysts said. Meanwhile, Jerome Powell said it was too early to talk about any changes to monetary policy, including reducing the asset buyback program. He noted that the U.S. labor market is far from a full recovery, reports The Wall Street Journal. Statistical data released Friday pointed to a decline in U.S. retail sales...
