Daily Market Comment – Global markets set to end chaotic 2020 on optimistic note

Posted on December 31, 2020 at 9:51 am GMT

As a year of absolute chaos concludes, investors look ahead into a calmer 2021 Dollar nurses recent losses, stocks retreat a shade from record highs Aussie and kiwi capitalize on softer dollar and cheerful mood, power higher Gold approaches upper end of recent trading range as real yields drop Happy end to a wild year There is a feeling of sanguinity coursing through global markets as a year of absolute chaos finally draws to an end. Most stock markets suffered [..]


Daily Market Comment – Trading starts to wind down, stocks at record highs, dollar dips

Posted on December 29, 2020 at 9:51 am GMT

Markets go quiet in thin holiday trading after US stimulus and Brexit hurdles cleared Pressure on the US Senate after House votes to increase stimulus checks Wall Street sets another record, Nikkei soars, London stocks play catch up Dollar on the backfoot again after rebound falters, pound pares losses Markets in holiday calm but stimulus drama may not be over Trading dwindled ahead of the New Year holiday amid thin liquidity as there was little reason for investors to stay [..]


Technical Analysis – EURUSD in recovery mode; bulls could take a breather in short run

Posted on December 29, 2020 at 8:48 am GMT

EURUSD is recovering the lost ground from the 2 ½-year high of 1.2272, while markets are wondering whether the pair can stretch its rally to fresh highs. In terms of trend, the upward trajectory shows no sign of fading, and with the price trading above its upward-sloping simple moving averages (SMAs) and the Ichimoku cloud, there is little concern of a trend reversal. The RSI and the MACD, however, signal that the bullish momentum in the price may soften as [..]


Daily Market Comment – Stocks cheer Trump’s stimulus U-turn; pound muted after ‘thin’ Brexit deal

Posted on December 28, 2020 at 9:40 am GMT

President Trump makes surprise U-turn on virus aid bill, averts government shutdown ‘Thin’ Brexit deal leaves many unanswered questions, pound unimpressed Equities buoyed, dollar pressured, gold jumps Relief as US stimulus and spending bill becomes law Trading for the last week of 2020 got off to a bullish start after President Trump unexpectedly signed into law the Covid-19 relief and funding bill late on Sunday after repeatedly refusing to do so. The $2.3 trillion package, which includes a fresh round [..]


Daily Market Comment – Brexit deal announcement imminent, pound up

Posted on December 24, 2020 at 9:57 am GMT

UK and EU on the verge of a historic post-Brexit trade agreement, pound advances Trump imperils stimulus deal, risks government shutdown But markets calm in thin holiday trade; dollar drifts lower, stocks edge up Brexit deal is ‘done’ Britain and the European Union appear to be on the cusp of agreeing to a historic post-Brexit trade pact, with officials reportedly working through the night to put the finishing touches to the 2,000-page text. Negotiators continue to thrash out the final [..]


Technical Analysis – EURUSD constrained within a triangle pattern

Posted on December 24, 2020 at 9:12 am GMT

EURUSD has been slowly regaining ground along the upper surface of the Ichimoku cloud and the base of a small symmetrical triangle in the four-hour chart, but a decisive close above the 1.2200 has been somewhat burdensome recently. The momentum indicators suggest depressed bullish pressures in the short run as the RSI and the MACD continue to hover near their neutral levels and the red Tenkan-sen line remains attached to the blue Kijun-sen. The topline of the triangle seen around [..]


Daily Market Comment – Virus scare eases but Trump’s stimulus threat tempers mood

Posted on December 23, 2020 at 9:39 am GMT

Equities on firmer footing as panic over new virus strain subsides further But another danger looms as President Trump unhappy with $900 billion stimulus bill Pound’s yo-yo ride continues as hopes rise for pre-Christmas Brexit deal Can Trump scupper Congress’ stimulus aid? Equities were on edge on Wednesday even as investors struck a cautiously optimistic tone ahead of the festive break. President Trump threatened late on Tuesday to block the $900 billion virus relief bill passed by both chambers of [..]


Technical Analysis – EURUSD posts negative gap after reaching 32-month high

Posted on December 21, 2020 at 7:12 am GMT

EURUSD surged to a 32-month high on Thursday, extending its bullish rally from the 1.1611 support level. Today, the market opened with a negative gap, retreating from the multi-month high. The positive picture in the medium term is further supported by the MACD, which is rising above its trigger line, however, the RSI is suggesting a possible pullback as the index is sloping south in the overbought territory. In trend indicators, the simple moving averages (SMAs) are following the price [..]


Week Ahead – Stimulus is coming to town

Posted on December 18, 2020 at 2:06 pm GMT

It is a very quiet week in terms of events, as trading winds down for the holiday season. This implies that liquidity may be in short supply, setting the stage for some explosive moves if there is any breakthrough in the Brexit crusade or the US stimulus saga. Overall, markets are set to end a crazy year on an incredibly optimistic note, with a little help from central banks showering investors with cheap money. The ‘party’ could continue into next [..]


Technical Analysis – EURUSD’s ascent revived; bullish signals dominate

Posted on December 17, 2020 at 10:31 am GMT

EURUSD is prodding at the 1.2245 border, attempting to extend the upwards drive. The climbing simple moving averages (SMAs) are conveying a positive demeanour, promoting further advances in the pair. The short-term oscillators are displaying growing positive momentum. The MACD, in the positive region, is climbing above its red trigger line, while the upwards creeping RSI is nearing the 70 level. Moreover, the stochastic %K line is moving higher above its %D line in overbought territory and has yet to [..]

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