SquaredFinancial
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Expert Daily Market Outlook Notifications
By SquaredFinancial
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Web: squaredfinancial.com
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🇬🇧 FTSE100 update:

A sharp pop in commodity prices helped push FTSE mining stocks higher, and the FTSE100 index slightly above key resistance at 7030, although this morning momentum seems to be fading ahead of the unveiling of Joe Biden’s huge infrastructure projects.

📉 A slide back below 7030 today would trigger further declines with the 4H 200-SMA as next support level.

Support: 7030 / 6935
Resistance: 7065 / 7160
FOOD FOR THOUGHT
Bitcoin Daily Chart
GOLD UPDATE:

Gold hit our support target on Friday, before bouncing off and printing a double top below $1912 resistance level with technicals favoring further downside in today’s session with $1900 and $1890 as next closest support targets. Higher than expected US CPI data kept the bullion supported while focus shifts this week to upcoming key jobs data.

Support: 1900 / 1890
Resistance: 1912 / 1920

Chart (H4)
IMPORTANT NOTE

🇺🇸 US MARKETS ARE CLOSED for holidays
🇬🇧 UK MARKETS ARE CLOSED for holidays

👉🏻 LIGHT TRADING EXPECTED
GBP/USD Update:

🇬🇧🇺🇸The British Pound reached the key resistance level at 1.4240, the highest level since April 2018. If we break above it, the GBPUSD currency pair will likely keep rising as bulls target the next resistance at 1.43.

👉🏻 On the monetary policy front, BoE governor Bailey is scheduled to speak late in the day, and this might well be the catalyst needed for the breakout.

🛑 But wait for the breakout! Because if traders already priced in the full reopening of the UK economy, scheduled for next week, then expect a quick reversal in this choppy market.

Support: 1.4210 / 1.4170
Resistance: 1.4240 / 1.43
EUR/USD Update:

🇪🇺🇺🇸 The Euro remains flat against the US Dollar as traders await PMI numbers for Italy, Spain, France, Germany, and the Eurozone. Unemployment numbers for Germany and inflation figures for the Eurozone are also due out and may trigger some volatility, therefore for now it seems wise to trade ranges between support at 1.2170 and the strong resistance area between 1.2240/1.2280.

Support: 1.2170 / 1.2070
Resistance: 1.2240 / 1.2280
Stocks in London remain strong despite #inflation concerns with the FTSE100 firmly supported by the 4H 200-SMA around the key 7000 figure 🇬🇧

Buy or Sell the FTSE100 index?

Read our daily stock index analysis via #FXStreet by clicking on the link below 👇

https://www.fxstreet.com/analysis/ftse100-remains-bullish-despite-low-volume-202106010742
⛽️ WTI Crude oil hit our long resistance target in yesterday’s session, topping 2-year highs, after OPEC+ provided an upbeat assessment of the demand outlook with the Saudi Energy Minister saying that the consumption picture has shown clear signs of improvement. API weekly inventory data to be released today, where a buildup in inventory could accelerate downside momentum with 66.20 as next support target.
CRUDE OIL UPDATE:

WTI
Crude oil ended yesterday’s session in the green at $68.75, highest close since October 2018, after an industry report showed US stockpiles fell by as much as 5.36Mb last week, as investors await official EIA data today for confirmation. Technically, $68.70 previous resistance, now turned support should hold to favor further upside with $70 as next resistance target.

Support: 68.70 / 67.92
Resistance: 70 / 71
Today's markets
ECB monetary policy decision followed by press conference will be the main event of the day

talk of tapering?
Inflation Soars to 5% a 13-year high!
Gold is very sensitive to the rate of inflation
a break above resistance at 1912 / 1915 will trigger a new round of upside acceleration to our target at $1949 🎯📈