eMini Nasdaq, Copper, USDCAD, And The US 10 Year Update

TL;DR

A market analyst shares his observations on the Nasdaq, copper, Canadian dollar, and US 10-year, with expectations of a slow grind higher prior to the FOMC meeting and potential breakouts and retracements at key levels.

Transcript

hi guys good afternoon from London just gone midday here in the office and was having a quick look over some of the markets our position ahead of the FOMC later today so I'm not expecting too much really in the way of aggressive prior section and still got this trendline on on the Nasdaq but you can see here you've got your the mole will test from ... Read More

Key Insights

• ✋ The analyst expects a slow grind higher for the Nasdaq, but warns of potential aggression if a respected trendline is broken.
• 🤩 Copper's breakout of a key technical level presents a good opportunity for retests at previous highs.
• 😘 Weakness in oil could weaken the Canadian dollar, but there may be a potential trend forming from recent lows.

Questions & Answers

Q: What are the analyst's expectations for the Nasdaq?

The analyst expects a slow grind higher but warns of potential aggression if a respected turn is broken, which could lead to a move lower.

Q: How has copper performed recently?

Copper broke a key technical level that hadn't been broken and closed above since July last year, suggesting a strong breakout. Retests of previous highs could offer good buying opportunities.

Q: How does oil impact the Canadian dollar?

A push lower in oil could lead to weakness in the Canadian dollar due to their correlation. However, there may be a potential trend forming from recent lows.

Q: What is the analyst's perspective on the US 10-year?

The analyst suggests that the US 10-year range may be contained for now. If the price grinds higher to a previous high, it may attract sellers, while a push lower to a previous resistance-turned-support could attract buyers.

Summary & Key Takeaways

• The analyst expects a slow grind higher for the Nasdaq but warns of potential aggressive moves if a well-respected trendline is broken.

• Copper broke a key technical level and may offer a good opportunity for buyers to reenter at retested highs.

• Weakness in oil could lead to weakness in the Canadian dollar, but a potential trend may form from recent lows.

• The US 10-year range may be contained for now, with potential selling opportunities at the previous high or buying opportunities at previous resistance-turned-support.