
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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3960 is an all-time high and a four-week high for the S&P. The index is challenging this resistance currently, and it’s not yet clear whether it’s going to cross it or will bounce downwards instead. Very likely, it will hang in there for a while as the first bullish attempt to cross it was reversed forcing the S&P to drop to above 3900. That means bulls don’t have enough momentum to make a one-leap march towards 4000 – optimism needs more time to move the index through to the next all-time high.
Fundamentally, Apple is on the brink of opening a whole new market for itself. As it’s marching into the EV-production industry together with Hyundai-KIA, millions and billions of sales profits are just around the corner for the IT-giant. That said, currently, it trades at local lows of $116. Together, both statements make this stock a potentially very worthy buy right now.
Nike is at its all-time highs. Although it ceded the gains dropping a few dollars from the mark of $147, strategically, it’s around the highest point it has ever traded. On Thursday, it will report its quarterly earnings for the fiscal quarter ending February 2021. If the figures are impressive – which they very likely are, given that the reported quarter includes holiday season – the stock will likely make a break through the current resistance to make a new all-time high. Therefore, it potentially present a very handy buy opportunity.
The famous EV-maker has a couple of problems now. First, there was a fire at one of the plants. It was put way, obviously, but sometimes, we get a feeling that important fundamentals are not properly addressed in Tesla business, don’t we? Second, one of Tesla investors sued Elon Musk for violating the SEC settlement with one of his tweets. Not just one, in fact – most of them are pretty vague – but the one suggesting that Tesla stock was “too high” particularly made investors worry about the shrinking value of the stock resulting from the tweet. Finally, upbeat economic outlook presses on growth stocks like Tesla indirectly through higher rates and yields. Therefore, the local stop at the round resistance of $700 makes Tesla quite suspicious. Wait a while and give it some time to act more decisively before you make a decision to open a position on it. However, if an uptrend starts forming, it may result to be a very impressive gain: from the current $700 to $900, it's more than 25% of potential rise.
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
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