Coronavirus (COVID-19)
gold still bearish on no US stimulus and covid-19 vaccine news
I understand that many people are still bullish on gold which is perfectly fine. Many wouldn't agree with me that 1700 is the best buying zone. It is in confluence with a strong demand zone and the 0.618 Fibonacci retracement level - of a long 2020 bull run since the beginning of the year - is in the Zone. As for the traders who use moving averages to analyse price action, the 200-day moving average is just below the 1800 level. This is the only support that stopping the price of gold from getting to the 1700 level. I expect some form of consolidation above the 200 day moving average before heading lower if there will be no us stimulus under a standoff in the us senate if the Democrats fail to win the two Georgia runoff Senate seats.
Of course in the long run expect gold to head for $3000
Short-term 🎯
$1765
$1725
$1700
Regeneron's Covid Treatment First Drug Authorized By FDAMy last chart:
November 22, 2020: Regeneron's Coronavirus Treatment Becomes First Antibody Cocktail to Earn Emergency Use Authorization from FDA (The Motley Fool).
Regeneron Covid Drug Gets Emergency OK.
Antibody drug cocktail casirivimab and imdevimab are allowed for use by people over age 12 with mild or moderate Covid-19. (the street).
If you are interested to test some amazing BUY and SELL INDICATORS, which give the signal at the beginning of the candle, not at the end of it, just leave me a message.
The US Dollar Index outlook The US Dollar has been moving sideways ever since the end of summer. Price has return to an area of previous structure support (almost touching the ascending trend line. Price can either break out of that small zone and descending trend line and see rejection from that major key level of 93.10 or break above the key level for bullish sentiment.
Investors are bullish on US TreasuriesThe tide in the $20 trillion Treasury market appears to be turning in favor of the bulls for now, with expectations growing that the Fed will boost purchases of longer-maturity debt as soon as next month after Mnuchin requested the FED to return the money set aside for lending programs in the US.
This implies we could see a weak US Dollar moving forward. However the pandemic situation could keep investors uneasy for now.
A September 2020 pivot Low stands between the currency's next level of major support zone at 88.2xx.
I'll take this play from a Commodities and Emerging Markets currencies perspective.
Silver is an interesting precious metal that could see this year's pivot high breached to the upside with a $34.xx being a possible target 🎯 for 2021.
The USDSGD is in play to breach a storng level of support that held the price twice in both January 2019 and January 2020. If the monthly candle closes below this area, it's next support 🎯 will be around the 1.30xx - 1.31xx supply area.
SGDCNH moving towards possible rebound zone on Daily ChartTechnical analysis :
1. price is approaching the year low level of 4.8627, buyers might get in at this level
2. Divergence between RSI and price is the indication that rebound will happen soon. We just don't know when.
Fundamental analysis :
1. Singapore is a small country. I lived there for 8 years and almost everything needs to be imported. So the government manages exchange rates to hedge the inflation risk. So SGD can't be too cheap.
2. The covid-19 got well contained in SG. Today is the 10th consecutive day of no local cases. As the economy started to go back to normal, it will strengthen SGD.
EURUSD - Break of Ascending ChannelEURUSD had been moving within a tight ascending channel for a week or so, finally managing a break to the downside yesterday. After several visits to the 1.19 region, it is apparent this is a tough level to break.
Price is currently resting on an area of noticeable support/resistance. I am expecting this zone to break, following which we should see an initial decline to last week's low at around the mid 1.1700's. Should fundamentals permit, we could see a continuation to the November low at around the 1.16 psychological.
Coronavirus concerns combined with vaccine news and also the ongoing Brexit situation will likely be factors contributing toward/hindering any moves lower.
Buy Idea: GBPCHF analysis for 2021On high possibility of a good Brexil Deal and COVID-19 vaccine roll-out around the world, it will be easier for the Cable to gain strength against the Swiss Franc, a safe haven currency. However, a 0.236 fibonacci level resistance of the previous 5-YEAR bearish run prevents the medium-term bulls from taking control. The level is also a 0.5 Fibonacci level resistance from a bear drop since last year.
A breach of this zone will open up the 2020 Highs once more.
$RSSV 10Q A/H’s Confirming both Acquisitions closing by EOYFirst Acquisition: $50 Mil Yearly + 2nd Acquisition $25 Mil Yearly with 25 Patents
Transition of things to come:
Filings>PRs>Name Change>Acquisition Filings
PT $2+ IMO in the Summer it did .03-.60 with the same S/S
www.otcmarkets.com
THIS MEANS TROUBLE!You don't need to be a scientist or epidemiologist to see what's going on here. The COVID pandemic is out of control.
These charts are limited because they show total infections - not rate of infections per day.
The exponential appearance of total infections is because of the summation of infections.
However, if a country is gaining some control over the virus then we could expect some flattening of the curve like with Australia. A flattening would mean they're not piling on loads of new infections.
Many parts of Europe, America and UK are in big trouble - but we're not hearing much about the economic impact of any of that. Why? Because everybody is focused on fiscal stimulus and hopes that a vaccine will cure economies.
Stock markets all over the world are looking past what rising infections mean for the future. Many countries are actually locking down but their stock markets are rocketing!
Driven by hope and greed, those who look past reality are courting delusion. The gap between fantasy and reality closes suddenly at times. I don't know when this is going to happen. I don't have a crystal ball.
GBP/USD – the pair for the global economy?Two main fundamental factors depressed the GBPUSD for the past couple of years—Brexit, and now recently, the Coronavirus.
The trade is relatively simple – once there is a vaccine for the Coronavirus, alongside certainty on Brexit talks, a good case can be made for the pair to reach its Pre Brexit/Pre Coronavirus levels around 1.45
Pound needs to meet two catalysts to hit 1.45
Let’s go over the technical first. A Fibonacci drawn from 1.34 to 1.15, from the 2019 high to the 2020 low, can see the level of 1.45, hitting perfectly with the 161.8% retracement level, which was the level before the Brexit referendum results were announced in 2016. Alongside predicted further weakness in the US dollar, as vaccine hopes rise, the pound may rally on relatively less stimulus to its US counterpart.
We can also see some consolidation zones and congestion around 1.32 and 1.38, where bulls and bears fight it for a higher or lower move. However, movements to the upsides past these zones paired with positive fundamental news may see price levels freely hit strong Fib levels. A robust full recovery, with pre-Coronavirus level economic activity alongside a positive post Brexit environment, and we can see levels hit 1.50 – 1.55.
Brexit – time is running out, risky for the Pound
It has almost been five years since the Brexit referendum took place—a quick refresher on why Brexit occurred. There were talks amongst the public that they were getting the short end of the stick regarding the European Union and that the majority of the citizens in the UK wanted to leave. The Prime Minister at the time, David Cameron, disagreed with the notion that the UK public wanted to leave. Therefore, he initiated a referendum to show that the UK did not want to leave the European Union. It turns out he was wrong, and they did want to leave. David Cameron retired soon after.
Five years later, and we’re edging closer to a deal. Brussels and the UK have started in-depth negotiations again after the Coronavirus ravaged the world. A “deadline” has been set for 31st December, where Britain will “leave” the EU regardless of whether a deal has been met. However, “deadline” is in quotations as both have agreed to extend deadlines that have passed many times before.
An EU official has stated that “its getting terribly late and may be too late already” and that “they haven’t quite reached where they had hoped to be.” If a “no deal” Brexit occurs on 31st December, shock waves will be sent not only in the financial markets but also supply chains all across Europe and the UK. There is currently free trade and free transport out of the UK and into Europe and vice versa. However, a no-deal Brexit would mean that on the 31st December, the EU will treat the UK like any other country.
A no-deal Brexit should see the pound drop to a similar magnitude of that in 2016. However, if the optimistic scenario occurs and a vaccine comes alongside positive Brexit negotiations, we should see the pound rally against the US Dollar.
DOW to 30k?With elections wrapping up the DOW is still performing great dispite what news media says. As you can see it is possible for a breakout and along with Bitcoin continues to rise with a crazy 300k per a bitcoin by next decemeber, yet for that to happen the stock market would have to follow with those types of gains. I bought the December calls on the SPY and looking on the chart it might be a great december.
TA
-ATM the DOW would need to break two levels 29854 and go touch the 29963, but we are in a down slop, but the MACD looks like a crossover will happen tomorrow.
-Maintaining above the 50ema is very bullish and along with maintaining above the 54.2 in the rsi
Final thoughts I sold some RIOT calls thanks to bitcoin and bought the the spy 381 calls for dec 9. It is a big bet, but the chart is favorable to the bulls despite lockdowns and a biden victory.
FISHY moves in the STOCKMARKETHey tradomaniacs,
Current markets mood is harder to indentify as we see the same cashflow like we`ve seen with the first vaccine-wave this year.
Comparing RUSSELL 2000 and SPX500 it looks like we see a flow out of big companies into the small-cap-section.
This is very weird as the small businesses were those who suffered the most during the COVID-Lockdown in the USA.
Does the market expect a BOOM of these companies with the upcoming vaccine?
There is one fact:
More than 50% of these companies listed in RUSSELL are not making any profit 👉 They are the "zombies" of the market who are only able to survive due to financial injections by the central bank.
These odd moves are forcing me to trade a bit less as I don`t think that institutional traders are willing to buy stocks of companies that only just able to buoy up.
Sell off coming soon?
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Peace and good trades
Irasor
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