Best Trade Ideas for April
I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
The VIX index rose to the highest level since early December
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The EUR/JPY pair is now testing the lower level of the Kumo. A failed attempt to move higher will push prices into the previous support and even lower. On the other hand, a successful attempt to enter the cloud will indicate further bullish implications.
Market View
The VIX index rose to the highest level since early December as risk sentiment took a turn for the worse on Monday, while oil prices retreated to USD 86 a barrel.
A mix of reasons like valuation- macro and earnings scared European markets that corrected by -5% lower, US markets however staged a significant rebound. S&P 500 recovered a -4% correction in the opening hours, to close higher by 0.3%. Investors bought the dip in growth, but most sectors were higher in risk on sentiment. Consumer discretionary and industrials led the market and defensives lagged. Small caps outperformed massively, Dow Jones closed up by 0.3% and NASDAQ 0.6%. Asian markets have not joined the rebound as they are down 1-2% and US futures back in red this morning mostly led by tech names.
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