Stocks, oil, and risk currencies gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by Covid-19 vaccines.
S&P 500 offers trade opportunities
Information is not investment advice
S&P 500 met resistance at the 61.8% Fibo of the January 24-27 decline. The index is quite volatile these days offering traders opportunities to make profit. On the D1, the current candlestick opened with a gap up and now sellers are pulling the price down. The close of the H4 candlestick below 3285 will open the way down to 3272.85 and potentially 3258.00. On the other hand, return above 3297 will open the way to 3315 (78.5% Fibo).
BUY 3298; TP 3315; SL 3194
SELL 3280; TP 3273; SL 3282
To trade S&P 500, choose S&P 500-20H in MetaTrader 5.
EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
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How to trade the gold price while it's oscillating between 1 837 and 1 864? Read the article, and you'll know how!
US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19