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GBP/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: Gold continues to move higher achieving a full retracement.
US stocks are set to extend Monday’s losses when markets open later, as concern about the spread of lockdown measures to tackle the pandemic returns to haunt cyclical stocks. Britain is the first Western country to start immunizing its population in what has been hailed as a turning point in the battle to defeat the disease. It is the worst-hit country in Europe with more than 61 000 deaths. Crude oil prices fell again as concerns about the spread of the pandemic again fed through into bearish sentiment about the demand outlook.
Despite the negative news and worrying headlines, we recommend traders to make mental reframing of the situation. This way, you can look at the market from a different perspective. Let’s observe how you can take advantage of the uncertainties and make the fundamentals work for you!
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