Markets which had been trading sideways for some days broke to the downside as fears grew over the severity of a second COVID lockdown.
Moving averages in the GBPUSD and EURUSD offer some hope for a rebound in those particular forex pairs but the outlook for commodities is more bearish.
Instrument | Hourly | Daily | |
GBP/USD | 1.2802 | Strong Sell | Strong Sell |
EUR/USD | 1.1858 | Strong Sell | Strong Sell |
FTSE 100 | 6,022 | Strong Sell | Strong Sell |
S&P 500 | 3,358 | Strong Sell | Strong Sell |
Gold | 1,958 | Neutral | Strong Buy |
Silver | 27.35 | Strong Sell | Strong Sell |
Crude Oil WTI | 41.01 | Strong Sell | Neutral |
Bitcoin | 10,909 | Buy | Neutral |
Our analysis is based on a comprehensive summary of market data. We use a range of metrics with weighting given to simple and exponential moving averages and key technical indicators.
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