Stocks of companies that depend on the easing of restrictions related to the coronavirus pandemic, including airline carriers and cruise operators, showed strong gains.
S&P 500, H4
Pivot: 3909.00
Analysis:
Provided that the index is traded above 3853.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 3909.00
- Take Profit 1: 3955.00
- Take Profit 2: 3983.00
Alternative scenario:
In case of breakdown of the level 3853.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 3853.00
- Take Profit 1: 3820.00
- Take Profit 2: 3779.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
Resistance Support
4015.00 3853.00
3983.00 3820.00
3955.00 3779.00
S&P 500, D1
Pivot: 3930.00
Analysis:
While the price is above 3880.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 3930.00
- Take Profit 1: 3985.00
- Take Profit 2: 4100.00
Alternative scenario:
If the level 3880.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 3880.00
- Take Profit 1: 3815.00
- Take Profit 2: 3750.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
Resistance Support
4450.00 3880.00
4100.00 3815.00
3985.00 3750.00
AUD/USD | Australian Dollar to US Dollar Trading Analysis
Prev article
EUR/JPY | Euro to Japanese Yen Trading Analysis
Next article
Recent articles
EUR/JPY | Euro to Japanese Yen Trading Analysis
ECB head Lagarde: so far we see no signs that inflationary pressures are becoming widespread.
GBP/JPY | British Pound to Japanese Yen Trading Analysis
GBP/JPY is declining from 2-week highs, approaching 151.50.