\\n

The Nasdaq yesterday at a glance , was a mostly flat day for NASDAQ as it ranged between 13,652.69 and 13,536 and closed at 13,612.78. United States ADP Nonfarm Employment Change (Jan) data will be released today at 1:15 PM, with an expected improvement to 49,000. The Nasdaq reaction to indicator information will follow.

\\n

The Nasdaq technical analysis picture ahead of data: The Chart pattern study shows Nasdaq's nearest support level is at 13,070.69. Asset volatility analysis shows that the upper Bollinger band is at 13,788, indicating a downward move might be next.

\\n

Overall, looking at the technical analysis landscape, it seems the Nasdaq is likely to start pointing downward in the short term.

\\n

As the market gets ready for data release – Google climbed to a new all-time high at $1,955.76. Facebook is trading at $267.08 after gaining 1.94%. The Shanghai Composite Index dropped 0.46% (16.38 points) to 3,517.31.

\\n

Earlier data releases related to the Nasdaq – United States API Weekly Crude Oil Stock released earlier shows an improvement to -4.26 million from the preceding data of -5.27 million, but falls short of the projected 367,000.

\\n

Coming is the Nasdaq – United States Crude Oil Inventories projected to outperform last figure with 446,000, while it previously stood at -9.91 million, figure will be published today at 3:30 PM. United States Initial Jobless Claims projected to outperform last figure with 830,000, while it previously stood at 847,000, Data will be released tomorrow at 1:30 PM.

\\n

Nasdaq social media highlights:

\\n
\\n

Wall Street’s main indexes ended sharply higher. The S&P 500 climbed 1.4% and the Nasdaq jumped more than 1.5% https://t.co/b7TfP1U4cd pic.twitter.com/Mp8vblTAtd

\\n

— Reuters (@Reuters) February 3, 2021

\\n

\\n

\\n\",\"\\n

The Dow will open at 30,687.48 after gaining 1.57% yesterday.

\\n

(Last update 4:51am EST, February 3, 2021)

\\n

\\n

The Dow yesterday at a glance – After it started the day at 30,212, Dow Jones went up to 30,840.54 only to drop back, yet still traded positively overall and closed at 30,687.48.

\\n

In terms of trend indicators, we can see that at 30,782, Dow Jones made an initial breakout above the 21 day Simple Moving Average, an indication of a positive trend. The MACD line is below the MACD signal line significantly, meaning the medium-term trend might turn positive. Asset volatility analysis shows that the lower Bollinger band is at 30,185.6, indicating further gains might be next. However, Dow Jones is eyeing resistance at 31,188.38 and is now only 500.9 points away, whilst this indicates a slow down or reverse of direction around 31,188.38, crossing it might suggest a prolonged positive move.

\\n

Overall, looking at the technical analysis landscape, it seems Dow Jones is likely to continue pointing upward in the short term.

\\n

The Dow started 2021 by gaining 0.27%.

\\n

\\n
\\n

For the fifth straight trading day, stocks at the center of a social media frenzy—led by GameStop—did the opposite of the Dow https://t.co/Q6L4WPCeVM pic.twitter.com/84K6dRsp4v

\\n

— WSJ Markets (@WSJmarkets) February 3, 2021

\\n

\\n

\\n\",\"\\n

The S&P will open at 3,826.31 after gaining 1.39% yesterday.

\\n

(Last update 4:51am EST, February 3, 2021)

\\n

\\n

S&P yesterday at a glance – S&P 500 rallied 52.31 points and maintained at 3,826.31 level.

\\n

The Chart visual study suggests the S&P could be slowing down soon because it is getting close and is now only 29.05 points from the resistance line at 3,855.36, yet crossing it might suggest further gains are ahead. Asset volatility analysis shows that the upper Bollinger band is at 3,880, This is a slight indication of a slowdown.

\\n

Overall, looking at the technical analysis landscape, it seems S&P is likely to reverse course and start pointing down in the short term.

\\n

The S&P started 2021 by gaining 1.86%.

\\n\",\"\\n

Apple will open at $135 after gaining 0.63% yesterday.

\\n

(Last update 4:51am EST, February 3, 2021)

\\n

\\n

Apple yesterday at a glance – After dipping down to $134.61, Apple regained earlier losses, closing at $135 Trading volume was 83.31 million, below the daily average of 112.95 million.

\\n

The chart pattern study shows Apple is eyeing resistance at $136.69 and is now only $1.7 away, whilst this indicates a slow down or reverse of direction around $136.69, crossing it might suggest a prolonged positive move. In terms of trend indicators, we can see that even though currently pointing up, the medium-term trend indication has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occurs as the MACD line crosses below the MACD signal line.

\\n

Overall, looking at the technical analysis landscape, it seems Apple is likely to reverse course and start pointing down in the short term.

\\n

With a market cap of $2.27 trillion Apple started 2021 by gaining 1.71%. So far this year it is under-performing the S&P 500 by 0.15%.

\\n

\\n
\\n

South Korea carmaker Kia's shares jump 14.5% on Apple EV tie-up report https://t.co/Es1MsJLEQ6 pic.twitter.com/aaPbyTW7MF

\\n

— Reuters (@Reuters) February 3, 2021

\\n

\\n

\\n\",\"\\n

Facebook will open at $267.08 after gaining 1.94% yesterday.

\\n

(Last update 4:51am EST, February 3, 2021)

\\n

\\n

Facebook yesterday at a glance – Facebook gained 1.94% and stayed at $267.08 levels. Trading volume was 16.22 million, below the daily average of 25.50 million.

\\n

A Visual analysis of Facebook's price graph shows the nearest resistance level is at $282.05. In terms of trend indicators, we can see that at $264.89, Facebook made an initial breakout above the 21 day Simple Moving Average, an indication of a positive trend.

\\n

Overall, looking at the technical analysis landscape, it seems Facebook might continue pointing upwards in the short term.

\\n

With a market cap of $760.56 billion Facebook started 2021 by losing 2.32%. So far this year it is under-performing the S&P by 4.18%.

\\n

\\n
\\n

Facebook banned a Myanmar military television network page following Monday’s coup, the social media giant’s latest move in a country where its platform has been connected in previous years to physical violence https://t.co/fbkbPNoz4f

\\n

— The Wall Street Journal (@WSJ) February 2, 2021

\\n

\\n

\\n\",\"\\n

Amazon rallied beyond $3,427.74 for the first time in 3 months.

\\n

(Last update 4:51am EST, February 3, 2021)

\\n

\\n

After starting the day at $3,343, Amazon rallied to $3,427.74, hitting its highest point in 3 months, It later lost $47.74 and closed at $3,380

\\n

Yesterday, Amazon released its quarterly earnings, beating analysts' estimates. The company reported earnings of 14.09 per share on revenue of $125.56 billion, topping estimates of 7.16 per share on revenue of $119.68 billion.

\\n

Visual analysis of Amazon's price graph shows Amazon's immediate resistance is around $3,418, nearest support level is at $3,322. In terms of trend indicators, we can see that the CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. Asset volatility analysis shows that a slight indication of a slowdown comes from looking at the Bollinger bands: the upper band is at $3,417.24 – a high enough level to usually suggest Amazon is trading above its value.

\\n

Overall, technical indicators suggest Amazon has no obvious direction for the immediate future.

\\n

With a market cap of $1.70 trillion Amazon has started 2021 by gaining 3.68%. So far this year it is outperforming the S&P 500 by 1.82%.

\\n

\\n
\\n

There's a new trend in takeouts — and Amazon looks ready to take advantage https://t.co/jIsO0EHln9

\\n

— CNBC (@CNBC) February 3, 2021

\\n

\\n

\\n\",\"\\n

Ahead of today's session, Microsoft is trading around $239.51

\\n

(Last update 4:56am EST, February 3, 2021)

\\n

\\n

Microsoft yesterday at a glance – Microsoft traded at $239.51 having started the session at $241.3, overall a 0.06% move or 14 cents. Trading volume was 25.92 million, below the daily average of 40.06 million.

\\n

The Chart pattern study shows Microsoft's nearest support level is at $224.96. In terms of trend indicators, we can see that the MACD line is above the MACD signal line significantly, meaning the medium-term trend might turn negative. Asset volatility analysis shows that the upper Bollinger band is at $244.22, indicating a downward move might be next. In contrast, The Relative Strength Index indicates Microsoft is in overbought condition.

\\n

Overall, looking at the technical analysis landscape, it seems Microsoft might be pointing down in the short term.

\\n

With a market cap of $1.81 trillion Microsoft has started 2021 by gaining 7.13%. So far this year it is outperforming the Dow Jones by 6.86%.

\\n

\\n
\\n

Microsoft slams Google over threat to shut search engine in Australia https://t.co/63xBcPi5lH

\\n

— Financial Times (@FT) February 3, 2021

\\n

\\n

\\n\",\"\\n

Google moved up 1.38%, close at $1,927.51 after the earnings report outperformed expectations.

\\n

(Last update 4:56am EST, February 3, 2021)

\\n

\\n

Google yesterday at a glance – Starting at $1,922.56 the stock rallied 1.38% and maintained at the $1,927.51 level. Trading volume was 2.27 million, above the daily average of 1.86 million.

\\n

Yesterday, Google released its quarterly earnings, beating analysts' estimates. The company reported earnings of 22.3 per share on revenue of $56.90 billion, topping estimates of 15.7 per share on revenue of $52.89 billion.

\\n

A Visual analysis of Google's price graph shows Google's immediate resistance is around $1,950.68, nearest support level is at $1,830.79. In terms of trend indicators, we can see that the CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. Asset volatility analysis shows that the upper Bollinger band is at $1,952.72, This is a slight indication of a slowdown.

\\n

Overall, technical indicators suggest Google has no obvious direction for the immediate future.

\\n

With a market cap of $1.30 trillion Google has started 2021 by gaining 9.24%. So far this year it is outperforming the S&P by 7.38%.

\\n

\\n
\\n

Microsoft slams Google over threat to shut search engine in Australia https://t.co/63xBcPi5lH

\\n

— Financial Times (@FT) February 3, 2021

\\n

\\n

\\n\",\"\\n

Tesla will open at $872.79 after gaining 3.93% yesterday.

\\n

(Last update 4:56am EST, February 3, 2021)

\\n

\\n

Tesla yesterday at a glance – Hesitant but green: from an early low of $842.2, Tesla went up to $872.79 and gained $33 compared to the $839.81 start of the day (3.93%). Trading volume was 24.35 million, below the daily average of 26.83 million.

\\n

The Chart pattern study shows Tesla could be slowing down soon as it is approaching and is only $10.3 away from resistance at $883.09, of course, crossing it might suggest further gains are ahead. In terms of trend indicators, we can see that at $848.35, Tesla made an initial breakout above the 10 day Simple Moving Average, an indication of a positive trend. Medium-term trend indication has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line crosses above the MACD signal line. Asset volatility analysis shows that the upper Bollinger band is at $902.55, This is a slight indication of a slowdown.

\\n

Overall, the technical analysis suggests Tesla is neutral for the immediate future, with no clear-cut direction.

\\n

With a market cap of $827.32 billion Tesla started in 2021 by gaining 19.9%. So far this year it is outperforming the Nasdaq by 14.58%.

\\n

\\n
\\n

Tesla is recalling roughly 135,000 Model S luxury sedans and Model X sport-utility vehicles over touch-screen failures, one of the electric-car maker’s largest-ever safety actions https://t.co/JVqdSyONxL

\\n

— The Wall Street Journal (@WSJ) February 3, 2021

\\n

\\n

\\n\",\"\\n

Zoom will open at $391.84 after gaining 2.59% yesterday.

\\n

(Last update 4:56am EST, February 3, 2021)

\\n

\\n

Zoom yesterday at a glance – Starting at $384.5 the stock rallied 2.59% and maintained at the $391.84 level. Trading volume was 3.70 million, below the daily average of 4.30 million.

\\n

Visual analysis of the Zoom's price graph shows Zoom's immediate resistance is around $398.25, nearest support level is at $337.32. In terms of trend indicators, we can see that at $390.8, Zoom made an initial breakout above the 50 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that the upper Bollinger band is at $396.65, This is a slight indication of a slowdown.

\\n

Overall, the technical analysis suggests Zoom is neutral for the immediate future, with no clear-cut direction.

\\n

With a market cap of $114.37 billion Zoom started in 2021 by gaining 14.27%. So far this year it is outperforming the Nasdaq by 8.95%.

\\n\",\"\\n

Netflix will open at $548.16 after gaining 1.69% yesterday.

\\n

(Last update 4:56am EST, February 3, 2021)

\\n

\\n

Netflix yesterday at a glance – After starting the session at $539.04 Netflix spiked to $555.48, dropped back to starting point range, and rallied again to $548.16. Trading volume was 3.77 million, below the daily average of 9.04 million.

\\n

The Chart pattern study shows the nearest resistance level is at $586.34. In terms of trend indicators, we can see that at $548.51, Netflix made an initial breakout above the 10 day Simple Moving Average, an indication of a positive trend.

\\n

Overall, looking at the technical analysis landscape, it seems Netflix might continue pointing upwards in the short term.

\\n

With a market cap of $242.78 billion Netflix started in 2021 by gaining 1.38%. So far this year it is under-performing the S&P by 0.48%.

\\n

\\n
\\n

Starzplay, a Middle Eastern competitor of Netflix, got $25 million in debt financing from an Abu Dhabi-based fund as the pandemic fuels demand for home entertainment https://t.co/ecvWPKJDqS

\\n

— Bloomberg (@business) February 3, 2021

\\n

\\n

\\n\",\"\\n

Walmart will open at $140.77 after gaining 1.08% yesterday.

\\n

(Last update 1:21am EST, February 3, 2021)

\\n

\\n

Walmart yesterday at a glance – Hesitant but green: from an early low of $139.44, Walmart went up to $140.77 and gained $1.5 compared to the $139.27 start of the day (1.08%). Trading volume was 8.85 million, above the daily average of 7.56 million.

\\n

In terms of trend indicators, we can see that at $141.17, Walmart made an initial breakout above the 3 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that the lower Bollinger band is at $138.2, indicating further gains might be next. On the other hand, note that Walmart could be slowing down soon as it is approaching and is only $2.62 away from resistance at $143.39, Of course, crossing it might suggest further gains are ahead.

\\n

Overall, looking at the technical analysis landscape, it seems Walmart is likely to continue pointing upward in the short term.

\\n

With a market cap of $398.28 billion Walmart started 2021 by losing 2.43%. So far this year it is under-performing the Dow by 1.12%.

\\n\",\"\\n

Ahead of today's session, Procter & Gamble is trading around $128.79

\\n

(Last update 1:21am EST, February 3, 2021)

\\n

\\n

Procter & Gamble yesterday at a glance – After starting yesterday at $128.97 Procter & Gamble went up to $130.72 only to drop back to the half way point range, closing at $128.79. Trading volume was 6.82 million, below the daily average of 8.36 million.

\\n

Visual analysis of the Procter & Gamble's price graph shows Procter & Gamble's resistance level is at $133.09. In terms of trend indicators, we can see that at $129.8, Procter & Gamble made an initial breakout above the 5 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that the lower Bollinger band is at $126.92, indicating a positive move might be next.

\\n

Overall, looking at the technical analysis landscape, it seems Procter & Gamble might start pointing upward in the short term.

\\n

With a market cap of $317.14 billion Procter & Gamble started 2021 by losing 8.03%. So far this year it is under-performing the Dow by 6.72%.

\\n\",\"\\n

Walt Disney will open at $176.96 after gaining 3.5% yesterday.

\\n

(Last update 1:21am EST, February 3, 2021)

\\n

\\n

Walt Disney yesterday at a glance – After it started the day at $170.97 Walt Disney went up to $179.75 only to drop back, yet still traded positively overall and closed at $176.96. Trading volume was 11.71 million, above the daily average of 10.78 million.

\\n

Visual analysis of the Walt Disney's price graph shows Walt Disney could be slowing down soon because it is getting close and is now only $4.22 from the resistance line at $181.18, yet crossing it might suggest further gains are ahead. Asset volatility analysis shows that a slight indication of a slowdown comes from looking at the Bollinger bands: the upper band is at $179 – a high enough level to usually suggest Walt Disney is trading above its value. On the other hand, note that the CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend.

\\n

Overall, looking at the technical analysis landscape, it seems a reverse of course in the short term might be next for Walt Disney.

\\n

With a market cap of $310.18 billion Walt Disney started 2021 by losing 2.47%. So far this year it is under-performing the Dow by 1.16%.

\\n\",\"\\n

Coca-Cola will open at $48.96 after gaining 1% yesterday.

\\n

(Last update 1:21am EST, February 3, 2021)

\\n

\\n

Coca-Cola yesterday at a glance – After it started the day at $48.48 Coca-Cola went up to $49.35 only to drop back, yet still traded positively overall and closed at $48.96. Trading volume was 13.30 million, below the daily average of 16.82 million.

\\n

The chart pattern study shows although Coca-Cola is green today and was as high as $49.35, it seems to be slowing down slightly and moving away from the $49.96 resistance line, and is now 99 cents below it. In terms of trend indicators, we can see that at $48.85, Coca-Cola made an initial breakout above the 200 day Simple Moving Average, an indication of a positive trend. Medium-term trend indication has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line crosses above the MACD signal line. Asset volatility analysis shows that a slight indication of a slowdown comes from looking at the Bollinger bands: the upper band is at $49.41 – a high enough level to usually suggest Coca-Cola is trading above its value.

\\n

Overall, the technical analysis suggests Coca-Cola is neutral for the immediate future, with no clear-cut direction.

\\n

With a market cap of $210.40 billion Coca-Cola started 2021 by losing 12.13%. So far this year it is under-performing the Dow by 10.82%.

\\n\",\"\\n

Pfizer closed at $35 after a disappointing performance report was published.

\\n

(Last update 1:21am EST, February 3, 2021)

\\n

\\n

Pfizer yesterday at a glance – Pfizer remained in the $35 range after starting the session at $35.8 and dropping 2.26%. Trading volume was 82.99 million, above the daily average of 42.84 million.

\\n

Yesterday, the company reported earnings of 0.42 per share, falling short of expectations of 0.5183. Revenue was also lower than expected at $11.68 billion versus $12.24 billion. Pfizer lost 79 cents since the release of its earnings report.

\\n

Visual analysis of the Pfizer's price graph shows Pfizer's immediate support is around $34.25, resistance level is at $42.56. In terms of trend indicators, we can see that the CCI indicator is below -100. When the CCI (Commodity Channel Index) is at this level, it means the price is below the average price as measured by the indicator, indicating a possible start of a new downtrend. Momentum evaluation shows The Relative Strength Index indicates Pfizer is in oversold condition, allowing more gains. However, a slight indication of recovery comes from looking at the Bollinger bands: the lower band is at $34.7 – a low enough level to usually suggest Pfizer is trading below its value.

\\n

Overall, looking at the technical analysis landscape – although indicators are mixed and some are pointing in different directions, it seems further drawbacks may be next for Pfizer.

\\n

With a market cap of $194.49 billion Pfizer started 2021 by losing 5.08%. So far this year it is under-performing the Dow Jones by 3.77%.

\\n

\\n
\\n

New Zealand medicines regulator Medsafe provisionally approved the use of a COVID-19 vaccine jointly developed by Pfizer and BioNTech, Prime Minister Jacinda Ardern said https://t.co/Gh0xyt6oYQ pic.twitter.com/coS9hrx67V

\\n

— Reuters (@Reuters) February 3, 2021

\\n

\\n

\\n\",\"\\n

McDonald's will open at $209.76 after four straight days of gains.

\\n

(Last update 4:36am EST, February 3, 2021)

\\n

\\n

McDonald's yesterday at a glance – With a daily low of $207.65, McDonald's closed at $209.76 after starting the day at $207.93 and gaining $1.83 (0.88%). Trading volume was 2.77 million, below the daily average of 3.32 million.

\\n

Thursday, the company reported earnings of 1.7 per share, falling short of expectations of 1.78. Revenue was also lower than expected at $5.31 billion versus $5.36 billion. Although earnings did not match projections, McDonald's gained $2.76 since the release of its earnings report.

\\n

Visual analysis of the McDonald's's price graph shows that although McDonald's is green today and was as high as $212.63, it seems to be slowing down slightly and moving away from the $215.87 resistance line, and is now $6.11 below it. In terms of trend indicators, we can see that at $212.44, McDonald's made an initial breakout above the 50 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that the upper Bollinger band is at $216.55 and the lower is $205.71.

\\n

Overall, the technical analysis suggests McDonald's is neutral for the immediate future, with no clear-cut direction.

\\n

With a market cap of $156.29 billion McDonald's started 2021 by losing 2.32%. So far this year it is under-performing the Dow Jones by 2.59%.

\\n\",\"\\n

Bitcoin is down $819 (2.22%), trading around $35,781

\\n

(Last update 4:36am EST, February 3, 2021)

\\n

\\n

Bitcoin nudged to $35,781, following mixed behavior today, as it ranged between $35,449 and $36,761.

\\n

Asset volatility analysis shows that the upper Bollinger band is at $37,800 and the lower is $30,400.

\\n

With a market cap of 666.16 billion

\\n

\\n
\\n

Key Metrics Indicate Bitcoin's Newfound Momentum Could Sustain: What You Need To Know $BTC $ETHhttps://t.co/nJIJJE31rA

\\n

— Benzinga (@Benzinga) February 3, 2021

\\n

\\n

\\n\",\"\\n

Gold drifted to $1,836.5 after starting the day at $1,833.4 (up 0.17%)

\\n

(Last update 4:36am EST, February 3, 2021)

\\n

\\n

After starting the day at $1,833.4 Gold went up to $1,846 only to drop back to the half way point range and is now trading at $1,836.5.

\\n

A Visual analysis of the Gold's price graph shows the nearest resistance level is at $1,952.7. Asset volatility analysis shows that the lower Bollinger band is at $1,824.33, indicating further gains might be next.

\\n

Overall, looking at the technical analysis landscape, it seems Gold might continue pointing upwards in the short term.

\\n

Gold started 2021 by losing 3.41%.

\\n

\\n
\\n

Gold, silver coin demand surging, straining U.S. Mint's capacity https://t.co/myNmL2EJyI pic.twitter.com/RtZHah8bcP

\\n

— Reuters (@Reuters) February 3, 2021

\\n

\\n

\\n\",\"\\n

Oil drifted to $54.94 (a 0.33% gain) after starting the day at $54.76

\\n

(Last update 4:36am EST, February 3, 2021)

\\n

\\n

After starting the session at $54.76 crude spiked to $55.25, dropped back to starting point range, now rallying again to $54.94.

\\n

The Chart pattern study shows Oil's immediate resistance is around $55.53, nearest support level is at $53.21. In terms of trend indicators, we can see that the CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. Momentum evaluation shows the Relative Strength Index indicates oil is in overbought condition, Keep an eye out for a slowdown of gains. On the other hand, note that the upper Bollinger band is at $54.43, This is a slight indication of a slowdown.

\\n

Overall, looking at the technical analysis landscape, it seems crude oil is likely to continue pointing upward in the short term.

\\n

Oil started 2021 by gaining 11.4%.

\\n

\\n
\\n

China’s crude oil stockpiles fell to the lowest level in almost a year https://t.co/f7CwF6Ucoo

\\n

— Bloomberg (@business) February 3, 2021

\\n

\\n

\\n\",\"\\n

At 1.2016 Euro down to its lowest value in 2 months.

\\n

(Last update 4:36am EST, February 3, 2021)

\\n

\\n

Having started at 1.2048, EUR/USD dropped to 1.2016, hitting its lowest point in 2 months, later it recovered 18 pips and is now trading at 1.2035

\\n

The Chart pattern study shows the Euro/Dollar resistance level is at 1.2308. In terms of trend indicators, we can see that the CCI indicator is below -100. When the CCI (Commodity Channel Index) is at this level, it means the price is below the average price as measured by the indicator, indicating a possible start of a new downtrend. Asset volatility analysis shows that a slight indication of recovery comes from looking at the Bollinger bands: the lower band is at 1.2017 – a low enough level to usually suggest the Euro is trading below its value.

\\n

Overall, the technical analysis suggests the Euro/Dollar is neutral for the immediate future, with no clear-cut direction.

\\n

The Euro/Dollar started 2021 by losing 1.29%.

\\n

\\n
\\n

EU proposes production investment to remedy vaccine shortages https://t.co/l5SWfbOTth pic.twitter.com/gNrJedTOu9

\\n

— Reuters Business (@ReutersBiz) February 3, 2021

\\n

\\n

\\n\",\"\\n

The British Pound drifted to 1.3639 (down 25 pips) after starting the day at 1.3665

\\n

(Last update 5:11am EST, February 3, 2021)

\\n

\\n

Light red, mostly flat: GBP/USD ranges between 1.3682 and 1.3636 and is now at 1.3639.

\\n

In terms of trend indicators, we can see that at 1.3649, pound/dollar made an initial breakout below the 21 day Simple Moving Average, an indication of a negative trend. Medium-term trend indication has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occurs as the MACD line crosses below the MACD signal line. Asset volatility analysis shows that the upper Bollinger band is at 1.3758, indicating a further downward move might be next. In contrast, the British Pound might start to recover soon because it is getting closer and is now only 128 pips from the support line at 1.3511, obviously dipping below it could be an indication that further losses are ahead. "Morning star”, whenever it appears on top of a bullish overall trend, some traders would consider this an indication of a reversal, of course.

\\n

Overall, looking at the technical analysis landscape – although indicators are mixed and some are pointing in different directions, it seems further drawbacks may be next for The Pound.

\\n

The British Pound started in 2021 by losing 0.04%.

\\n

\\n
\\n

French minister Beaune: UK has taken "enormous risks" on COVID vaccines strategy https://t.co/BPKibpZd81 pic.twitter.com/L7HNw5ysvP

\\n

— Reuters (@Reuters) February 3, 2021

\\n

\\n

\\n\",\"\\n

After a 2 month hiatus, dollar/yen is back at 105.11 levels.

\\n

(Last update 5:11am EST, February 3, 2021)

\\n

\\n

Starting the session at 105, USD/JPY rallied above 105.11 for the first time in 2 months, gaining 7 pips, and is now trading at 105.07.

\\n

The Chart visual study suggests the Dollar/Yen nearest support level is at 102.71. In terms of trend indicators, we can see that the CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. Momentum evaluation shows the Relative Strength Index indicates the Yen is in overbought condition, Keep an eye out for a slowdown of gains. In contrast, the upper Bollinger band is at 105.21, indicating a downward move might be next.

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Overall, looking at the technical analysis landscape, it seems the Dollar/Yen might be pointing upward in the short term.

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The Yen started in 2021 by gaining 1.64%.

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Japan's animators in pencil peril over production halt https://t.co/dMMURoast2 pic.twitter.com/9NVw6Y2E3g

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— Reuters (@Reuters) February 3, 2021

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New 2 month high for Dollar/Swiss at 0.9

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(Last update 5:11am EST, February 3, 2021)

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Starting the session at 0.8974, USD/CHF rallied above 0.9 for the first time in 2 months, gaining 19 pips, and is now trading at 0.8993.

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A Visual analysis of the Dollar/Swiss's price graph shows the Dollar/Swiss nearest support level is at 0.8783. In terms of trend indicators, we can see that the CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. Momentum evaluation shows The Relative Strength Index indicates Dollar/Swiss is in overbought condition. In contrast, a slight indication of a slowdown comes from looking at the Bollinger bands: the upper band is at 0.899 – a high enough level to usually suggest the Swiss franc is trading above its value.

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Overall, looking at the technical analysis landscape, it seems the Swiss franc is likely to continue pointing upward in the short term.

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Dollar/Swiss started in 2021 by gaining 1.36%.

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The Aussie/Dollar up 0.14%, trading around 0.7619

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(Last update 5:11am EST, February 3, 2021)

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With a daily low of 0.7603, AUD/USD holds at 0.7619 after starting the day at 0.7608 and gaining 10 pips (0.14%).

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The Chart visual study suggests the Australian dollar broke through the 0.7628 resistance and climbed 9 pips above it. In terms of trend indicators, we can see that the CCI indicator is below -100. When the CCI (Commodity Channel Index) is at this level, it means the price is below the average price as measured by the indicator, indicating a possible start of a new downtrend. Asset volatility analysis shows that the lower Bollinger band is at 0.7584, indicating further gains might be next.

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Overall, the technical analysis suggests the Aussie/Dollar is neutral for the immediate future, with no clear-cut direction.

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The Australian dollar started 2021 by losing 0.95%.

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-U.S. futures ⬆️
-Japan, Australia stocks rise
-Hong Kong stocks ⬇️
-Silver futures ⬆️ 2.9%
-Oil climbs to $54.99https://t.co/tj8l1iJKiN pic.twitter.com/HEkDHYhPbd

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— Bloomberg (@business) February 3, 2021

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