A Beautiful Weekend Ahead With Profit-taking & Rebounds.By Kenneth@Xtrade - on March 29, 2019
A beautiful weekend ahead with profit-taking and rebounds.
Market participants turned their attention to boggled down on sure ways to close the weekend in a positive ROI. Since the trends are largely driven by sentiments of ongoing events, it pays to be attentive to the fundamentals when strategizing.
The Sino-US trade negotiations that were stalled got yanked, which soothed investors well. Giving hope that the efforts to avoid another protracted Trade War, had not been abandoned. Global stocks rose in tandem.
Meanwhile its “Mayhem” with the Brexit proceedings. Which is weighing on the British economic outlook at least in regards to monetary policy with BoE, Today Lawmaker and MP’s will converge to debate on the Brexit withdrawal agreement future straining the trends for the UK 100 and GBP in regards to its counterparts.
The week is intended to be closed following the release of GDP gross domestic product numbers, from UK, Canada, Baker Hughes Rig Count will be highly anticipated to gauge any developments in the US Shale production, along with the US New Home Sales report due for later today, which could strengthen the USD more for the weekend.
The commodities are also likely to uptrends as the encouraging US-Chinese’s dialogue encourages trade however, for those not wanting to remain on a risky path have opted to turn to the safe-havens for refuge. Thus GOLD, Prices should uptrend along with silver, Copper as well as oil prices.
UK100: The FTSE 100 future were also bolstered by gains in oil prices as the listing is heavy with oil producing and processing industries besides being export oriented. Caught hawkish up 0.43% trading from the day’s open of 7,269.66, the asset was observed sliding down before trading sideways between 7,235.05 – 7,286.12
Germany 30: Was seen up 0.91% with further upside not ruled out trading at 11,552.0 from the support levels of 11,457.8 and likely heading to 11,580.00 if all goes according to plan.
Italy 40: Stood tall Friday morning up 0.55% at the time of print it was at 20,655.00 with the intention of trading between: 20,542.50 – 20,705.00.
USA30: The Dow is bullish up 0.44% at the time of print 12:45GMT heading for 25,860.00. the current highs from lows of 25,726.0
As stated in the opening passage, the commodities are mostly bullish and tacking on gains from the previous sessions losses.
Oil:The Woes underlined in our Thursday’s article are seen supporting prices by the time of print Crude Oil prices specifically the WTI was trading up 1.55% between a range of 59.41 – 60.22 upside movement is subjected to the results of the Baker Hughes Rig count and any untimely data that may wade in on supply and demand.
Gold: The precious metal is back at the helm from it temporal lapse these past few days. Analyst are under the impression that it would climb back to the 1,300k levels. Spotted trading up 0.24% between 1,291.35 – 1,298.45.
The FX market is also sentimental with spread betters hoping to capitalize out of the volatility, Technical indicators are not always accurate in the sense that they may show exaggerated or lagging trends.
GBP/USD: The pair seem to be oscillating in a familiar range, with more or less the same amount of volume traded. Meaning it is likely to see movements between 1.3004 – 1.3136. By the time of print they were 0.40% up at 1.3095
EUR/USD: Although seen bullish at 1.1232. The EUR has falling considerable trading in a range between 1.1210 – 1.1241 up 0.11%.
USD/JPY: The USD is still keeping close tabs on the JPY, the attraction to the safe-haven by traders had not upset the balance between the pair by the time of print. USD was caught up 0.13% at 110.77. with the intention of trading between 110.55 -110.92.
As per our revelations Thursday, the current trends on the Cryptocurrencies are testament to bringing you timely and relevant news for consideration. The Token are likely to remain bullish over the weekend with knee jerking expected in the US trading session.
Close the week on a positive ROI it possible with caution!
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