Forecasts & Analysis

S&P 500 made a critical break above the 21 ema zone. The bulls are in clear control but can price action break above the critical resistance trend line ?

Equity markets in Asia kicked off the week on a positive note along with US futures, as investors digested China’s GDP data and some optimism that US policy markets may still reach an agreement on a stimulus package before Election Day.

The oil price stabilized around $40. With the exception of a drop down $36 in the beginning of October, it has been trading within the channel between $39 and $41.50 for the last four weeks.

AUD/USD gained upside momentum and is trying to settle above the nearest resistance level.

It’s been an extraordinary year of cliffhangers and unexpected plot twists that we’re all painfully familiar with by now. However, with 2020 almost in the books, there’s still at least one big unknown left for global markets, and for the United States in particular.

Crude oil prices drifted lower at the first trading session of the week. The black fossil backed derived gave up earlier gains after the world’s second-largest economy and the largest importer of crude oil China, a few hours ago released a smaller-than-expected rise in GDP during Q3

The GBPCHF is bearish. Price is currently retracing and if it gets to the POC zone, we might be expecting a drop lower.

EUR/USD continues its attempts to settle below the nearest support level at 1.1695.

Philips, a leading European electrical engineering group, reported better-than-anticipated core earnings in the third quarter of this year as the COVID-19 pandemic boosted demand for hospital equipment with comparable sales rising 10% to 4.98 billion euros in the quarter.

Negative fiscal stimulus news will be supportive for the U.S. Dollar because this will mean fewer greenbacks floating around in the system.