If this bullish momentum continues, expect the price to continue heading towards the 1st resistance at 4119.97, where the 78.6% Fibonacci line is. In an alternative scenario, price could possibly head back down to break the 1st support at 3888.39, where the 50% Fibonacci line is, before heading towards the 2nd support at 3764.49, where the recent swing low is.
As we head into the middle of Q1, we are seeing more activities in the US and European economies. Below are the key economic events to look out for if you’re planning to open a position in February 2023. All times are listed in our platform time, GMT +2
Global Markets: News & Data: Markets Update: Asian stock markets are trading mixed on Monday, following the broadly positive cues from global markets on Friday, and as traders remain cautious ahead of a busy week, when the US Fed, Bank of England and European Central Bank are due to lift interest rates in an effort … Continue reading Monday 30th January 2023 : Asian markets tread cautiously
Looking at the H4 chart, my overall bias for S&P500 is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect the price to continue heading towards the 1st resistance at 4119.97, where the 78.6% Fibonacci line is.
USD/JPY: Looking at the H4 chart, my overall bias for USDJPY is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect the price to possibly continue heading towards the 1st resistance level at 131.592, where the 61.8% Fibonacci line is. In an alternate … Continue reading Friday 27th January 2023 : Technical Outlook and Review
