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STOXX50 trade ideas

Could Euro Stoxx and Bitcoin Signaling Warning?Well that was an eventful weekend. With less than 10 hours to go before the Bitcoin halving, the cryptocurrency markets are attempting a set up for a relief rally. In other news Federal Reserve Chairman Jerome Powell will speak on the current issues facing the U.S. economy later this Wednesday. Heading into this speech, it is difficult to bet against the market. I am conflicted though. There are warning signs. The Bitcoin and Euro Stoxx 50 charts could be providing hints. Relief into Halving? Over the weekend Bitcoin suffered a set back as it attempted a breakout above 10,0000. The weekly close will likely result on the rally officially ending. The proof : The weekly candle (not shown) ended in a doji reversal on spot exchanges and exhibited the highest volume since the March 16 weekly candle. Furthermore, the two month old bullish ascending trendline that supported that rally was finally breached (see daily chart below). Price can absolutely rally in the interim. A reason would be the ridiculous CME Gap that many traders have already pointed out. See the 4-hour Bitcoin Futures CME chart below. The picture on lower time frames is an absolutely mess unless you turn the noise off. Here I have the 1-hour line chart of Bitcoin. The king of crypto is exhibiting signing of an inverse head and shoulders pattern reversal. Given that the pattern is on lower time frames, I give it a lower probability in completing and/or reaching its measured target. Trade this pattern with caution, as the risk is still to the downside. Bitcoin is poised to rebound from whatever low it posts in the short term. So it is very difficult for me to be bearish on the short term. However, that being said I will continue to emphasize that Bitcoin could be in for a lengthly consolidation prior to making any new highs. BTFD and sell the rallies. Bias: BTFD . Europe Showing Sign of Weakness Above is the chart of the Euro Stoxx 50 (EU50), an index that is made up of the 50 largest and most liquid stock in the European zone. After a 50% rally off the March low, the EU50 has not been able to reclaim its high. Europe could be signaling a warning for stock market investors and traders that the high may be in. Its a chart to watch! Bias: Bearish. Stars Aligning for Rally to End Not calling any top here, but I do think it is time to rethink the upside on the tech driven rally. With Bitcoin and now Europe exhibiting weakness, the warning signs are there that the rally is nearing an end. Until then, I'll be playing the relief rallies and promising set ups. Happy trading and talk to you all soon!
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by DailyClose
EU50EUR EU50EUR Almost 10 million barrels The world’s top oil producers agreed to cut output by 9.7 million barrels a day after a week-long marathon of negotiations led to a pact on how to tackle the pandemic’s impact on global demand. The market seems to have been positioned for a successful outcome to the talks, which Goldman Sachs Group Inc. described as “historic, yet insufficient.” One of the biggest losers from the deal is Russia, with the country agreeing to cut production by 2.5 million barrels, more than Saudi Arabia. Market reaction has been less positive than may have been expected, with crude trading little changed. Looking to open As the coronavirus continues to spread in the U.S., debate is turning to when the country’s economy can start to reopen. Dr. Anthony Fauci said some emergency measures could be eased next month in some places, but that there is no universal “light switch” to turn everything back to normal. He said widespread testing would be key to relaxing isolation measures. U.K. Prime Minister Boris Johnson left hospital to continue his recovery at home with the nation’s death toll passing 10,000. There are more signs that the outbreak is in decline across much of continental Europe. Markets drop Global markets are starting the week on the back foot an investors sentiment continues to be dominated by uncertainty. Overnight, the MSCI Asia Pacific Index slipped 0.6% while Japan’s Topix index closed 1.7% lower as the yen rallied against the dollar. European markets were closed for a holiday. Futures for all three main U.S. equity indexes pointed to losses at the open, the 10-year Treasury yield was at 0.747% and gold lost some ground.
OANDA:EU50EUR
by Anderson-FX
1
Dow Jones EURO STOXX 50Virus Hopes Dampened The latest infection numbers from European virus hotspots are dampening hopes of lockdowns being relaxed. Italy and Spain both recorded the most new cases in days, while the U.K. announced a record number of coronavirus deaths as British Prime Minister Boris Johnson remained in intensive care, though his condition was said to improve. A “technical issue” meant France couldn’t give an update on its Covid-19 numbers. Worryingly, new research looking at the outbreak in China has suggested the disease travels faster than previously thought. 5 Trillion Hit The coronavirus pandemic is set to rob the global economy of more than $5 trillion of growth over the next two years. That’s the warning from Wall Street banks as lockdowns plunge the world into its deepest peacetime recession since the 1930s. Although the downturn is predicted to be short-lived, it’ll take time for economies to make up the lost ground. Even with huge monetary and fiscal stimulus, gross domestic product is unlikely to return to its pre-crisis trend until at least 2022. A U.S. recession model confirms a downturn is already here. UBS, Credit Suisse Dividends Swiss banking giants UBS Group AG and Credit Suisse Group AG announced that they will postpone half of their planned dividend distributions for 2019 to the fourth quarter of 2020, following a request from the regulator. Credit Suisse reassured that its financial strength would have continued to support the original dividend, while UBS noted a strong operating performance in all business divisions. The move follows similar actions by peers on the continent and in the U.K. Stock Futures, Oil Higher European futures are pointing higher after mixed trading in Asian stocks amid lighter volumes ahead of the Good Friday holiday in many countries. Oil climbed after Algeria confirmed that the OPEC+ emergency meeting scheduled for today will discuss an output cut of 10 million barrels per day. An unprecedented accord between the world’s largest producers to scale back production has moved closer within reach after Russia signaled it’s ready to make output reductions.
TVC:SX5ELong
by Anderson-FX
Euro 50 - danger zoneExpecting a resolve of the movement in the blue triangle. Either bear or bull depends on where it breaks; arrows depict trade entry depending on your orientation. Leaning bearish, but not really tradable until the break. TA shows a triangle which usually breaks to either up or down and retest the break. Break retest is usually tradable with higher certainty. I also depict a failed Elliot Wave 5 which usually resolves in ABC retracement which may be agressive especially the C part. Bearish FA is uncertainty of the EU sector. Draghi experiment stimulated growth by promoting cheap crediting which is bearish in my eyes since people in europe are not saving and are overspending. Housing market is quite expensive and most of it is on credit cause it is under 2% but people dont have a lot of free capital and if you have in more and more coutries you have to pay to have the money (currently only bigger clients and only on cash holdings). Population forgot what happened recently and dont think it was too bad. EURIBOR is negative as are interest rates in more and more of the banks. Brexit is looming and Boris could hard brexit which although could be a short term market reaction by itself could cause a domino effect caused by strong USD and currently weak EUR and GBP. Draghi out Lagarde in, but Draghi will probably still have a word in the back.
OANDA:EU50EURShort
by apeliquidation
2