ORBEX: Weekend Trade News Likely to Affect SPX, DXY!
In today’s marketinsights video recording, I talk about SPX and DXY .
SPX takes a breather from all-time highs offering some pocket-relief to short-term bulls, however, with weekend trade headline news the rally could continue higher.
The US index looks bid too despite the medium-term bearishness as the economy performs incredibly well, supporting the dollar.
From a technical perspective, there's more room to the upside for both. The index, however, will most likely have a harder trip moving higher as its upside is limited. Unless if of course a sharp bullish move occurs, taking out breakeven stops and then reversing rapidly to everyone's surprise.
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice.
SPX takes a breather from all-time highs offering some pocket-relief to short-term bulls, however, with weekend trade headline news the rally could continue higher.
The US index looks bid too despite the medium-term bearishness as the economy performs incredibly well, supporting the dollar.
From a technical perspective, there's more room to the upside for both. The index, however, will most likely have a harder trip moving higher as its upside is limited. Unless if of course a sharp bullish move occurs, taking out breakeven stops and then reversing rapidly to everyone's surprise.
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice.
