Posted Wednesday, November 25, 2020 by
• 2 min read
US Market Wrap
Markets and risk assets put in another strong performance yesterday as equities, in particular, look to take out their record high levels.
While the situation around the world is still very messy, it’s clear that money is getting parked in the likes of stocks and even property as investors search for options in the current climate.
Similarly, we continue to see strength in the risk-on major forex pairs, while the cryptos are another asset class that is making a fresh run at the all-time highs.
The Data Agenda
We could be in for an interesting session today as markets gear up for the holiday ahead.
What that means is that we’ll be getting a flood of US data today and we won’t be seeing much happening over the next few sessions.
Today the key numbers will be jobless claims once again, while we also see GDP, core durable orders and home sales data.
Later in the session, we will also get the latest data on WTI crude oil inventories.
Forex Signal Update
The FX Leaders Team hit 4 winners from 5 signals yesterday, as the guys managed to jump on board a few nice trades.
Keep watching the forex signals page as there could be plenty of action today in what is effectively the end of the week for many traders.
LTC – Active Signal
LTC has been following the other cryptos higher and we are long here. The entire space is bullish at the moment and this is a good chance to rude the trend.
DAX – Pending Signal
The DAX has broken out perfectly from what was a very nice technical pattern. There is another resistance level just ahead and another break is even more confirmation for the bulls.
BTC has made another leg higher after setting up really well over the past few session.
We saw price take out $19,000 and that was also enough for our long signal to hit our take profit target as well.
For now, we wait and see if this $19,000 level can hold as it is the only thing stopping a test of the record highs.