StockTrading Tip: Go long the SPX500 Index this week following a daily close above this level
Due to the Christmas and New Year holidays, last week’s Forex market saw relatively little price movement, with no high-impact data released at all.. The US Dollar index ended the week notably lower.
probably mostly because there is increasing optimism over the impact of the omicron coronavirus variant which has begun to spread extremely rapidly especially in Europe, the USA, and Canadathat the best trade for the week was likely to be long of the S&P 500 Index, the USD/JPY currency pair following a daily close above 115.25, and the agricultural commodity Corn in USD terms. The S&P 500 Index rose by 0.68%, while Corn fell by 2.8%, unfortunately giving an average loss of 1.06%.
. Note how this key resistance level has held again – in fact it held just after the FOMC release some weeks ago when it was tested, which is possibly a bearish sign. While this continued decline is not enough to invalidate the long-term trend ,
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