{"id":2384,"date":"2020-10-07T14:30:00","date_gmt":"2023-03-31T20:19:07","guid":{"rendered":""},"modified":"2024-05-29T08:08:20","modified_gmt":"2024-05-29T08:08:20","slug":"market-daily-outlook-markets-are-consolidating","status":"publish","type":"post","link":"https:\/\/blog.zulutrade.com\/fr\/market-daily-outlook-markets-are-consolidating\/","title":{"rendered":"Market Daily Outlook – Markets are consolidating"},"content":{"rendered":"

The majority of stock markets are consolidating within a range as participants have no clear bias because coronavirus still troubles the global economy and the upcoming US elections remain on the top of their agenda. In FX, the greenback rebounded from lows and this caused selling pressure to its rivals, though, its currently losing steam. <\/span><\/p>\n

CopyTrade with ZuluTrade<\/span><\/a><\/p>\n

On major US news,  Donald Trump surprised the markets by <\/span>announcing <\/span><\/a>the extension of $25bn as new payroll aid to thousands of workers that have been laid off by US airlines due to COVID-19. This comes after his decision to terminate the talks with Democrats regarding the $1.6 trillion package relief as he prefers to discuss the matter after the elections and his potential win over Biden.  In the meanwhile Biden, the Democratic presidential candidate, <\/span>informed <\/span><\/a>that he is willing to have the debate if Trump fully recovers from COVID-19.<\/span><\/p>\n

On major EU-UK news, Macron, the French president, still <\/span>persists <\/span><\/a>having the same deal on fishing as the current one with the UK and this gradually becomes a major obstacle in the Brexit status. On the contrary,  Liz Truss, UK secretary of International Trade, <\/span>believes<\/span><\/a> that a potential agreement is achievable similar to Canada-style with the EU. Reviewing the latest economic numbers, UK house prices have been increased by 7.3% YoY, while German industrial production has unexpectedly fallen by 0.2% MoM and France’s Trade Deficit was increased to €7.7bn in August.  <\/span><\/p>\n

On global news, Russia <\/span>announced <\/span><\/a>that they successfully tested a hypersonic missile in the Barents Sea on Tuesday. Armenia is blaming Azerbaijan for having Syrian fighters on their side which an allegation that Azeris deny. 
<\/span><\/p>\n

Reviewing the technical view, SPX500 is grinding below the broken rising channel while all MAs are moving sideways. If the index has more than 3 daily closes above 50SMA, it could initiate a trend reversal to bullish. Likewise, NAS100 is ranging from 11200 to 11600 for consecutive days while both FR40 and UK100 move within their channels. <\/span><\/p>\n

SPX500 Daily
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NAS100 Daily<\/span><\/p>\n

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UK100 Daily<\/span><\/p>\n

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FRA40 Daily<\/span><\/p>\n

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CopyTrade with ZuluTrade<\/span><\/a><\/p>\n

XAUUSD failed to penetrate the $1900 level but still holds $1877 support. Any violation of the mentioned levels will trigger the next leg of the movement. <\/span><\/p>\n

XAUUSD 240min<\/span><\/p>\n

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USOil performed a shard rebound but failed to break out $41 level to the upside due to larger than expected in US crude inventories. The Fibonacci retracement levels act as short-term supports. <\/span><\/p>\n

USOil 240min<\/span><\/p>\n

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Disclaimer<\/strong><\/p>\n

The views expressed do not constitute investment or any other advice \/recommendation \/suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of<\/span> ZuluTrade Social Trading Platform<\/span><\/a> and do not constitute an offer or invitation to anyone to invest or trade.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The majority of stock markets are consolidating within a range as participants have no clear bias because coronavirus still troubles the global economy and the upcoming US elections remain on the top of their agenda. In FX, the greenback rebounded from lows and this caused selling pressure to its rivals, though, its currently losing steam.  […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2384","post","type-post","status-publish","format-standard","hentry","category-market-view"],"metadata":{"rank_math_internal_links_processed":["1"],"_edit_lock":["1716969964:4"],"rank_math_seo_score":["18"],"rank_math_og_content_image":["a:2:{s:5:\"check\";s:32:\"722e935f32bdb3174b7c0b41f4a58986\";s:6:\"images\";a:6:{i:0;s:57:\"\/image.axd?picture=\/2020\/07102020\/SPX500Daily 7102020.png\";i:1;s:57:\"\/image.axd?picture=\/2020\/07102020\/NAS100Daily 7102020.png\";i:2;s:56:\"\/image.axd?picture=\/2020\/07102020\/UK100Daily 7102020.png\";i:3;s:56:\"\/image.axd?picture=\/2020\/07102020\/FRA40Daily 7102020.png\";i:4;s:54:\"\/image.axd?picture=\/2020\/07102020\/XAUUSDH4 7102020.png\";i:5;s:57:\"\/image.axd?picture=\/2020\/07102020\/USOilSpotH4 7102020.png\";}}"],"rank_math_analytic_object_id":["156"]},"pll_post_group":null,"_links":{"self":[{"href":"https:\/\/blog.zulutrade.com\/fr\/wp-json\/wp\/v2\/posts\/2384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.zulutrade.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.zulutrade.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/fr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/fr\/wp-json\/wp\/v2\/comments?post=2384"}],"version-history":[{"count":1,"href":"https:\/\/blog.zulutrade.com\/fr\/wp-json\/wp\/v2\/posts\/2384\/revisions"}],"predecessor-version":[{"id":3980,"href":"https:\/\/blog.zulutrade.com\/fr\/wp-json\/wp\/v2\/posts\/2384\/revisions\/3980"}],"wp:attachment":[{"href":"https:\/\/blog.zulutrade.com\/fr\/wp-json\/wp\/v2\/media?parent=2384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/fr\/wp-json\/wp\/v2\/categories?post=2384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/fr\/wp-json\/wp\/v2\/tags?post=2384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}