Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock market grew following the shares of technology companies. The U.S. economy will recover more quickly from the Coronavirus Pandemic crisis, while fiscal and monetary stimulus will work together, Federal Reserve Chairman Jerome Powell told the U.S. House of Representatives Financial Services Committee. Nasdaq 100, H4 Pivot: 11180.00 Analysis: Provided that the index is traded above 10940.00, follow the recommendations below: Time frame: H4...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD has become a victim of increased flight from risks. The pressure on it increased, sending the pair to multi-week lows around 1.1730. The main drivers of such dynamics were the change in the players' attitude towards the dollar, as well as increased fears about a new wave of coronavirus spreading and political uncertainty in the USA. EUR/USD, 30 min Pivot: 1.1684 Analysis: Provided that the currency pair is traded below 1.1720, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight Gold prices fell to their lowest level in almost two weeks on Monday amid a stronger dollar, while investors are waiting for the Federal Reserve to comment this week. GOLD/USD, 30 min Pivot: 1911.50 Analysis: Provided that the price is below 1927.00 follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1911.50 Take Profit 1: 1896.00 Take Profit 2: 1882.00 Alternative scenario: In case of breakout of the level...
Source: PaxForex Premium Analytics Portal, Technical Insight The sales figures without cars are worrying. The population continued to receive state support in July and August, but spending was reduced. The fact that part of sales is growing against the backdrop of unsatisfied demand is worrisome, and once it is satisfied, the indicator will fall below pre-pandemic levels USD/CAD, 30 min Pivot: 1.3315 Analysis: Provided that the currency pair is traded above 1.3275 follow the recommendations below: Time frame: 30 min...
Source: PaxForex Premium Analytics Portal, Technical Insight Analyst warnings on the valuation of dotcom bubbles are forcing investors to sell large technology stocks. At the same time, investors continue to dispose of shares of real estate and utilities that are generally considered safer investments in uncertain environments. The S&P 500 closed with a 38-point drop, losing 1.1 percent on Friday after three consecutive days of decline, ending the week with a 0.65 percent drop. Thus, it is now the third week after reaching a...
