Source: PaxForex Premium Analytics Portal, Technical Insight U.S. stock indices showed no single pattern in Wednesday's trading after the conclusion of a two-day meeting of the U.S. Federal Reserve. The Dow Jones index declined, while the S&P 500 and Nasdaq rose. The Standard & Poor's 500 rose 6.55 points (0.18%) to 3,701.17 points. S&P 500, H4 Pivot: 3701.00 Analysis: Provided that the index is traded above 3678.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry...
Source: PaxForex Premium Analytics Portal, Technical Insight FOMC statement: bond purchases will continue until "substantial" progress on targets: No change in the weighted average maturity of the portfolio; Rates left unchanged at 0.00%-0.25%; Seeking to use the full range of tools to support the U.S. economy; Continue to buy $80 billion in Treasuries per month and $40 billion in MBS; Continue to buy bonds "until substantial progress is made toward the Committee's maximum...
Source: PaxForex Premium Analytics Portal, Technical Insight Gold rose on Tuesday on market hopes for additional economic support amid the rapid spread of COVID-19 and ahead of the U.S. Federal Reserve's meeting. GOLD/USD, 30 min Pivot: 1857.00 Analysis: Provided that the price is above 1843.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1857.00 Take Profit 1: 1866.00 Take Profit 2: 1875.00 Alternative scenario: In case of breakdown of the level 1843...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Canada announced its verdict on monetary policy. As widely expected, the Central Bank did not change the level of the key interest rate, leaving it at 0.25%. The text of the accompanying central bank statement noted: The Bank continues to pursue an aggressive communication policy backed and augmented by a QE program that will continue to be implemented at the current rate of C$4 billion per week; The global and Canadian economic recoveries are...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock indices Dow Jones and S&P 500 declined in trading on Monday, losing the gains of the early session amid concerns about the introduction of additional restrictive measures in connection with the coronavirus pandemic. At the same time the rise in shares of major technology companies supported the Nasdaq Composite index. All three indices opened the trades on the rise due to the hopes for the soon widespread use of vaccines from COVID-19 and the adoption...
