A Trader's Outlook The GBPUSD And S&P500 | Summary and Q&A

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March 18, 2019

A Trader's Outlook The GBPUSD And S&P500

TL;DR

Monday is expected to be a quiet trading day, with potential market movements driven by new headlines. Important events to watch include the RBA minutes, Brexit headlines, FOMC meeting, and European Council meeting. Key levels to monitor include the S&P's previous high, $58 handle in oil, and breaking above the September level in GBP.

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Key Insights

👶 Monday is expected to have minimal market movement without new headlines.
🤩 The S&P breaking above the previous high is a positive sign, with the next key level being the lows before the October breakdown.
🍵 Oil has the potential for further upside if it retests the previous highs and breaks above the $58 handle.
🪛 Brexit headlines will likely be the main driver for the GBP market this week.

Transcript

as you can see on my my right-hand side here Monday of all the days probably likely to be the quietest and I wouldn't expect too much in the way of overall movement today unless we would have new headlines and to come out look at Tuesday obviously overnight we've got the RBA minutes which will be relatively important for any Aussie traders also got... Read More

Questions & Answers

Q: What events should traders watch for this week?

Traders should keep an eye on the RBA minutes, Brexit headlines, FOMC meeting, and European Council meeting. These events could significantly impact the market.

Q: What are the key levels to monitor in the S&P?

After breaking above the previous high from October 2018, the market is now looking to test the lows before the October breakdown. Traders should watch for a potential continuation to the upside.

Q: What are the important levels for oil trading?

A retest of the previous highs from March and breaking above the $58 handle are key levels to monitor. Going long at these levels could be a good opportunity.

Q: What are the main drivers for the GBP market this week?

The Tuesday and Wednesday Brexit headlines will be the main drivers for the GBP market. Breaking above the September level could lead to further strength.

Q: What are the key levels for gold trading?

Traders should watch for a break above the key level of 1,300 in gold. Additionally, the trendline that was broken this morning is an important level to monitor for trading opportunities.

Summary & Key Takeaways

Monday is likely to have minimal market movement unless there are new headlines. Key events to watch this week include the RBA minutes, Brexit headlines, FOMC meeting, and European Council meeting.
The S&P ended the previous week on a positive note, breaking above the previous high from October 2018. The next key level to watch is the lows before the October breakdown.
For oil, a retest of the previous highs from March could present a good opportunity to go long. Breaking above the $58 handle is also significant.
In GBP, the Tuesday and Wednesday Brexit headlines will be the main drivers for the market. Breaking above the September level could potentially lead to further strength.
Gold has shown interesting support levels, with the key level to watch being 1,300. Breaking above this level and the trendline could present trading opportunities.