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  • $GBPUSD corrects from stretched valuations, however, positioning clear is likely to entice dip-buyers. Get your market update from @JMcQueenFX here: https://t.co/sfFdBx9pN6 https://t.co/j6nnry65SW
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/oQrOpYINOj
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/LSVPlus0vv
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/rPd6B5KzuI
  • Time-cycle analysis suggests that the Japanese Yen could slide significantly lower against its major counterparts. Key levels for AUD/JPY, EUR/JPY and GBP/JPY. Get your market update from @DanielGMoss here:https://t.co/WPq4Z9zzEw https://t.co/VzVLrBbL9q
  • The Australian Dollar looks poised to outperform the haven-associated US Dollar and Japanese Yen. However, it may lose ground to the New Zealand Dollar. Key levels for AUD/USD, AUD/JPY and AUD/NZD. Get your market update from @DanielGMoss here:https://t.co/cuxRxl5WaF https://t.co/pujrmqSxV7
  • Has anyone explained the risk of inflation on the markets in terms of tendies?
  • The US Dollar is trying to break higher versus ASEAN currencies. The Singapore Dollar, Philippine Peso, Thai Baht and Indonesian Rupiah are under pressure. Will follow-through last? Get your market update from @ddubrovskyFX here:https://t.co/JOWG9q01q0 https://t.co/j2ICxgrLa3
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your $USDCAD market update from @DanielGMoss here:https://t.co/9bkVXQuP5C https://t.co/cLNEG36mZ8
  • We just closed out the heaviest week of volume for the $SPY (US equities) since June and $TLT (Treasuries) since March 16
S&P 500 and FTSE 100 Forecasts for the Week Ahead

S&P 500 and FTSE 100 Forecasts for the Week Ahead

Justin McQueen, Analyst

S&P 500, DAX 30, FTSE 100 Analysis and News

  • S&P 500 | Irrational Exuberance Faces a Reality Check
  • FTSE 100 | BoE to Top Up QE
S&P 500 and FTSE 100 Forecasts for the Week Ahead

Source: DailyFX

S&P 500 | Irrational Exuberance Faces a Reality Check

In a week that saw bankrupt companies spiking to pre-COVID 19 levels, and an unrelenting bid in tech stocks that saw a new record high despite the economic uncertainty, the term ‘irrational exuberance’ coined by former Fed Chair Alan Greenspan springs to mind. However, this exuberance faced a reality check amid Thursday’s sell-off in which the global equities posted their largest one day drop since mid-March. As we closed out the week, the equity market has posted a modest bounce back, which isn’t unusual following a 5% drop. That said,Thursday’s session will provide a stark reminder to market participants that downside risks remain, particularly as second wave concerns mount. As we look to next week, eyes will on Fed Chair Powell’s Testimony (Tues 16th).

US 500 BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 3% -3% 0%
Weekly 22% -23% -6%
What does it mean for price action?
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S&P 500 Price Chart: Daily Time Frame

S&P 500 price chart

Source: IG Charts

FTSE 100 | BoE to Top Up QE

Brexit is once again on the agenda with high-level talks scheduled between UK PM Johnson and EC President Von Der Leyen on June 15th. Given that the UK have reiterated that they do not plan on asking for a transition period extension before the July 1st deadline, no deal fears will continue to pick up in the run-up to October 31st, in the absence of notable progress. Elsewhere, the BoE is expected to increase its asset purchase facility by £100bln, however, risks are skewed towards more QE purchases.

FTSE 100 BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 21% -21% 12%
Weekly 14% -24% 6%
What does it mean for price action?
Get My Guide

FTSE 100 Price Chart: Daily Time Frame

FTSE 100 price chart

Source: IG Charts

RESOURCES FOR TRADERS

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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