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Head and Shoulders Invalidated on XAUUSD as Gold Price Rises on Coronavirus Fears

Commodities Jan 24, 2020, 05:00 GMT by Angeline Feliciano

With the coronavirus now spreading to over 17 countries, investors have switched to risk-off mode. Gold price skyrocketed in response to risk aversion. XAUUSD rallied to an intraday high of $1,567.81 from a low of $1,551.80. Yesterday, news of Hong Kong recording its first case of the coronavirus infection spooked [...]

Ripple Price – XRPUSD: Downside Break of Triangle and Neckline Mean More Losses Ahead?

Cryptocurrencies Jan 24, 2020, 04:00 GMT by Angeline Feliciano

Neckline, Triangle, and Trend Line Break on XRPUSD Sellers dominated yesterday’s trading on ripple price (XRPUSD). The cryptocurrency traded below support of the rising trend line, symmetrical triangle, and neckline of the head and shoulders chart pattern. Where is it headed to? In forex trading, a symmetrical triangle is considered [...]

CNN Fear and Greed Index Moves Away From Extreme Greed Levels

Indices Jan 23, 2020, 17:16 GMT by Alejandro Zambrano

The CNN Fear and Greed index has taken a step back following the last few day's softer stock market. The move lower in stock has been induced by the Coronavirus that send the Shanghai Composite reeling lower. Last week, the CNN Fear and Greed index reached the “Extreme Greed” level [...]

Nasdaq 100 Retreat, Coronavirus Outbreak Weigh On Stocks

Indices Jan 23, 2020, 16:43 GMT by Nikolas Papas

Nasdaq 100 started the session lower as investors keep an eye on the corporate earnings reports that are supportive for the index. Markets are nervous trying to asses what will be the impact of the coronavirus spread around the world. China officials decided to lockdown most transport in Wuhan and [...]

Drop in Crude Oil Inventories Engenders Mild Crude Oil Price Recovery

Commodities Jan 23, 2020, 16:21 GMT by Eno Eteng (MSTA)

Upbeat numbers from the Crude Oil Inventories report have allowed crude oil price on the Brent variety to recover some ground in what had been a bearish week for crude oil. Brent crude is currently trading at 61.87, up from intraday lows of 61.28 after crude oil inventories in the [...]

S&P 500 Index Retreats on Renewed Fears of Coronavirus Spread

Indices Jan 23, 2020, 15:43 GMT by Eno Eteng (MSTA)

The S&P 500 index has taken a breather as investors get spooked once again by reports of new cases cropping up in other countries. Hong Kong has detected new cases despite the lockdown of Wuhan (the epicentre of the epidemic). Another coronavirus case has been identified in the US after [...]

EURUSD Slumps on ECB Rate Meeting, Could Reach 1.0922 on H&S Pattern

Forex Jan 23, 2020, 15:40 GMT by Alejandro Zambrano

With two hours left of the European trading session, the EURUSD is trying to take out the December 20 low of 1.1065. If the EURUSD pair manages to close below the low, then a large head and shoulders pattern with a price target of 1.0922 would have been triggered. And, [...]

Shanghai Composite Dives: Whuhan & Huanggang Quarantined on Coronavirus, Dow Jones Index

Indices Jan 23, 2020, 15:01 GMT by Alejandro Zambrano

Today, the Shanghai Composite received a massive blow and closed lower by 2% on the day, after recovering from a 2.79% slide. The Shanghai Composite had recovered over the last few months and was up by 14.54% from its summer lows, on the world economy recovering, and the US and [...]

Swiss Franc Firms on SNB Jordan’s Remarks, Sending EURCHF Lower

Forex Jan 23, 2020, 14:32 GMT by Eno Eteng (MSTA)

The USDCHF is trading lower as part of broad-based Swiss Franc strengthening on the back of remarks by the SNB Chair Thomas Jordan. Jordan is commenting on CNBC regarding the rumours surrounding a possible intervention by the Swiss National Bank to weaken the Franc. A weaker Swiss Franc enhances the [...]

EURGBP: Lagarde Failed to Impress Investors

Forex Jan 23, 2020, 14:30 GMT by Nikolas Papas

EURGBP little unchanged after the ECB left interest rates unchanged as expected. The central bank will continue to purchase 20 billion euros a month in bonds. ECB also announced the launch of a review of its monetary policy strategy. Christine Lagarde in the press conference noted that Inflation is expected [...]

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Featured

Head and Shoulders Invalidated on XAUUSD as Gold Price Rises on Coronavirus Fears

Ripple Price – XRPUSD: Downside Break of Triangle and Neckline Mean More Losses Ahead?

CNN Fear and Greed Index Moves Away From Extreme Greed Levels

Nasdaq 100 Retreat, Coronavirus Outbreak Weigh On Stocks

Drop in Crude Oil Inventories Engenders Mild Crude Oil Price Recovery

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Q1 Global Market Outlook

Published: January 2020 | Authors: Alejandro Zambrano, Martin Lam, and Ramy Abouzaid.

GLOBAL MARKET OUTLOOK Q1, 2020

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