Weekly Trading market outlook and trading signals
Good Monday, everyone! Are you waiting for the market outlook and trading signals? Here it’s Weekly market outlook of EURUSD, XAUUSD, US100 trading signals. This week begins with a global news story concerning China, the results of the last US polls, and new speculations about the crypto market and the FTX scandal. Let’s have an overview of these market headlines.
Here are the other top market headlines:
📉 The Japanese yen weakens.
😱 New Covid-19 outbreaks threatened China.
The first results of the US Midterm election have been revealed, Democrats take the Senate.
Xi-Biden meeting today is eyed.
🔮 No more fairytales – Disney plans to stop hiring process and fire some employees.
The week-long saga that started with an abandoned takeover deal of FTX by Binance ended with FTX going bankrupt. Some market Analysts believe that millions of dollars of assets had been moved through the platform under what they called “suspicious circumstances.
According to some source, FTX founder Samuel Bankman transferred $10 billion of client funds from the exchange to his trading company Alameda Research, which had created unauthorized trading activities as a result. The customers are then notified that there are a low probability of recovering their deposits.
XAUUSD Signal
XAUUSD is consolidating above the 50-hour moving average. Two previous times the price has exploded after this pattern!
🎯Consider buying XAUUSD with the target at 1795.00!
EURUSD Signal
EURUSD buyers are preparing for the 1.0360 – 1.0385 resistance range attack. Consider buying the pair as soon as the price breaks above 1.0385.
🎯Target: 1.0480 (1000 points potential profit)
US100 signal today
NASDAQ (US100) has formed a double bottom pattern and broke above the neck line. Currently, the 11 600 – 11 650 range looks like an amazing opportunity for long trades!
🎯TP: 12 000, 12 200
TESLA Signals
Although Twitter got delisted from the New York Stock Exchange after Elon Musk bought the company, Tesla is open for trading. More to say, the company is under pressure because Musk has a strong personal brand and his failures with Twitter affect his other companies. As for the chart, the price went below a vital support zone and aims for a retest.
We would consider selling the stock after the successful touch of the $200 level.
✅Targets: $180 and $160.
⚠️ Stop Loss: daily candle closes above $215.
Tell us what you trade right now in the comments! 😉 If you want to know how to start, please check this article: