SP500 (ES), futures market Monday forecast, April 6
Uptrend
The uptrend may be expected to continue in case the market rises above resistance level 2568.75, which will be followed by reaching resistance level 2635.75.
Downtrend
An downtrend will start as soon, as the pair drops below support level 2566.75, which will be followed by moving down to support level 2529.50 and if it keeps on moving down below that level, we may expect the pair to reach support level 2493.25 and 2458.00.
Weekly forecast, April 6 - 10
Downtrend
The downtrend may be expected to continue, while pair is trading below resistance level 2635.75, which will be followed by reaching support level 2424.75 and if it keeps on moving down below 2372.75, we may expect the pair to reach support level 2212.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 2635.75, which will be followed by moving up to resistance level 2733.75 and 2930.50.
Monthly forecast, April 2020
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 2411, which will be followed by reaching resistance level 2733.75 and 2930.50.
Downtrend
An downtrend will start as soon, as the pair drops below support level 2411, which will be followed by moving down to support level 2111.00.
All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to buy or sell any trading instrument. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.