CFD: S&P 500 Index
S&P 500 keeping Friday’s upside momentum to 3,480.
During the weekend, news broke the US House Speaker Pelosi turns down Friday’s proposal from Trump, concerning the coronavirus (COVID-19) aid package worth near $1.8 trillion. This pours cold waters on expectations of further stimulus from the US government.
Technically, price is heading towards out of the box and targeting a retracement level on 2.618 fibo or move ahead higher into 3.82 fibo cycle.
Cryptocurrency: BTCUSD – BITCOIN
Technically, we are looking on the and targeting price to break again above $12k towards upper line major resistance.
CFD: WTI – US Oil
Technically, price is moving back towards inside channel and we are looking likely a sideline trading this week.
Targeting price to move towards support median.
CFD: DXY – US Dollar Index
Fundamentally, last week US Dollar edged lower on news indicating a possible resumption of US stimulus talks.
Technically, this week price heading towards inside downtrend drop but however on the weekly charting expecting further drop towards median major support.channel. indicating strong although long term we are looking at range trading since August
CFD: XAUUSD – SPOT GOLD
Technically, price hovering aroundand also breaking above targeting towards completing it cycle at upper line major resistance
Hovewer, it might sideline around median before edge higher this week and gold is moving in lockstep with the US expectations, which have risen back to highs seen in August.
Bias will remain
Technically, this week we are looking at out of the box setup which price is moving higher towards fibo resistance 3.82
Pound inch higher despite US Dollar weakness with upside momentum staying above 1.3000. Stay alert on UK PM Johnson up for Australia-style trade deal if there’s no deal by October 15
Technically, price heading towards looking to touch upper line major resistance but with high price structure made seen last week, kindly be cautious sudden drop 100++pips especially current price will hovering around
Like most of the major pairs, Aussie move seems strong than others recovering after massive drop on Sept and pullback from July low.
Technically, we are looking at and price going to hovering around median and either moving towards upper line major resistance or reverse back towards lower line but with US Dollar weakness much likely a stronger aussie
Technically, price reverse upon hitting upper line
We are looking at and targeting price to hit next at lower line major support.
Technically, price heading into massive drop trading out of the box and we are expecting a retracement around 3.82/4.236 fibo cycle back towards around Sept low.