- March 21, 2023
- Posted by: Noureldeen Al Hammoury
Despite the market rally in the US yesterday and at the opening of Europe today, it’s easy to spot that fear is still there. Markets are still unsure whether the Credit Suisse event is the end of the banking crisis or just the beginning of it.
However, Time and Price are still suggesting that no major move will happen until April 3rd. Even with the Federal Reserve decision tomorrow, April 3rd remains the key data for the next move, which I believe will be the beginning of a new bull run. Time will tell.
As for today, I issued a new trade on NZDUSD, you can check it in the Portfolio tab. This is a starter position, meaning am not in a full position yet, so I might add to this trade later if the pair decided to go south. However, the stop remains unchanged at 0.6130 for now.
EURUSD trade from a few weeks ago is still active with over +130 pips so far, I’m moving the stop to breakeven once again at 1.0595 ahead of the Federal Reserve decision
As for stocks, S&P500 is still showing some resilience, yesterday It closed over its 200 DAY MA once again but also below 100 DAY MA. 3967 is on watch today. A break of which would lead to another push towards 4000. No change when it comes to timing. April 3rd remains the key date for SPX.