Market News and Trade Ideas
Hello, traders! Today is Thursday, January 4, 2024. Let's dive into the key financial updates of the day:
The NASDAQ fell 1.7% on the first day of trading, its worst since 2001.
Mark Zuckerberg sold Meta shares (FACEBOOK) for $428 million at the end of 2023 - SEC disclosure.
The US and Canada together produced more oil and gas than the entire Middle East in 2023 - and this should concern OPEC+, the Economist says.
💵 Morgan Stanley closed shorts in EURUSD and became “neutral” on the US dollar (previously bullish). Analysts predict further weakening of the US dollar in 2024.
🇯🇵 Earthquakes in Japan complicate the task of the Central Bank to quickly abandon the policy of negative rates because the economy needs support, Bloomberg says.
₿ Yesterday's drop in BTC led to panic selling. Trading volume increased to its highest since March 2022. Funding rates for longs sharply returned to normal (were at a record), reflecting "fear" in the crypto market - Santiment.
What are your trading plans for today guys?
👉🥇👈XAUUSD — Decline is coming!
XAUUSD is pulling back after a significant decline. The cross area of the 2055.00 - 2058.00 resistance range and the resistance trendline look like a solid opportunity to follow this downtrend. Another option is selling XAUUSD on the breakout of the recent low at 2032.00.
🔽Trade 1: sell XAUUSD inside the 2055.00 - 2058.00 support range;
🔽Trade 2: sell XAUUSD on a breakout below the 2032.00 support;
🎯Target: 2019.00 Smash ❤️
The price is trading right above the 4700 support level.
If buyers hold US500 above 4700, it will move to 4780;
A breakout below this level will send the index to 4600.
Do you expect a bounce from the US500?
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