Earnings season has been top of mind for market participants

Big Tech gave major U.S stock indexes a boost yesterday and European shares ended largely unchanged as a sharp fall in oil prices took the shine off bumper profits from oil company BP. 

The euro retreated as the European Central Bank tried to cool interest rate hike expectations. Wall Street shares shook off a groggy start and early losses as Apple Inc., Microsoft Corp and Amazon.com Inc. jumped. Shares of bank stocks including Bank of America Corp, JPMorgan Chase & Co and Wells Fargo added over 1% each ahead of a U.S inflation reading due this week. 

Economic Calendar

The Dow Jones Industrial Average rose 1.06%. The S&P 500 gained 0.84%. A jump in U.S. Treasury yields lifted bank stocks on Wall Street. Shares of Bank of America Corp BAC.N, JPMorgan Chase & Co JPM.N and Wells Fargo WFC.N all gained over 1%. 

Earnings season has been top of mind for market participants for the past few weeks. Results have been, on balance, better than estimates. As we wrap up the earnings season this week, investors' focus will likely shift from the micro corporate earnings to the macro like the Federal Reserve.

Dow Jones Industrial Average

The Dow Jones Industrial Average added 1.06%. The best performers of the session on the Dow Jones Industrial Average were Amgen Inc., which rose 7.82% or 17.48 points to trade at 241.01 at the close. Meanwhile, American Express Company added 3.26% or 6.13 points to end at 194.00 and UnitedHealth Group Incorporated was up 2.01% or 9.71 points to 493.41 in late trade. The worst performers of the session were Chevron Corp which fell 1.52% or 2.11 points to trade at 136.44 at the close. Nike Inc. declined 1.11% or 1.61 points to end at 143.53 and Merck & Company Inc. was down 0.86% or 0.67 points to 76.91.

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NASDAQ 100

The NASDAQ index added 1.28%. The top performers on the NASDAQ Composite were Society Pass Inc. which rose 42.68% to 4.68, Tritium Dcfc Ltd which was up 39.47% to settle at 9.54 and Ucloudlink Group Inc. which gained 38.57% to close at 2.03. The worst performers were Pulse Biosciences Inc. which was down 34.44% to 7.12 in late trade, Anghami De Inc. which lost 30.92% to settle at 13.470 and Nuvectis Pharma Inc. which was down 20.50% to 6.32 at the close.

Oil

Oil prices slipped for a third session today on profit-taking due to concerns of a possible rise in supplies from Iran despite industry data showing a surprising drop in U.S oil inventories. U.S West Texas Intermediate crude was at $89.18 a barrel, down 18 cents, or 0.2%. 

The contract slid about 2% on Tuesday as Washington resumed indirect talks with Iran to revive a nuclear deal. Such a deal could lift U.S sanctions on Iranian oil and quickly add supplies to the market, although a number of vital issues still need to be ironed out. 

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With the negotiations ongoing, the oil price is likely to lose steam in the next week, despite the bump higher we've seen today. The U.S going to Iran to reopen sanctions waiver talks shows, how tight the market is. Governments from the United States to Japan are looking at ways to tackle high oil prices as inflation soars. Undersupply is the key factor that has pumped up the oil price.

Precious and Base Metals

Gold prices advanced to a near two-week high on Tuesday, buoyed by mounting inflation concerns and Russia-Ukraine tensions, although expectations for a U.S interest rate hike limited gains. Spot gold rose 0.4% to $1,827.86 per ounce, after hitting its highest since Jan. 26 at $1,828.12 earlier in the session. U.S. gold futures settled up 0.3% at $1,827.90 per ounce, ahead of the U.S inflation data due on Thursday. 

There's this more of a wait-and-see approach with some of the bigger data that's coming out later this week. Gold has shown it's forming massive support around $1,800 and this will be an important week for gold. U.S. consumer prices for January are expected to rise 7.3% annually, according to a Reuters poll, after robust labor data last week fanned inflation fears. 

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Gold prices have been stuck in range-bound trade since the beginning of the year, caught between rising inflation worries and growing expectations for Federal Reserve interest rate hikes. If actual (inflation) data issues as expected or higher, the dollar should strengthen along with U.S Treasury yields leaving gold with substantial downside pressure. 

Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion. Higher rates also boost the dollar, pressuring the greenback-priced precious metal. The Russia-Ukraine tensions are going to remain elevated despite some of the optimism from French President Macron. 

The dollar index rose 0.3%, making bullion expensive for other currency holders, while the benchmark 10-year U.S Treasury yields hit a more than a two-year peak. Silver rose 0.9% to $23.19, platinum climbed 1.4% to $1,034.36, while palladium eased 0.2% to $2,258.87. The copper market has been subdued since the start of the year, the price is trapped in a tight trading range with volumes and open interest sliding across all three global exchanges.

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Traditional Agricultures

Soybean prices fell yesterday, a day after hitting an eight-month high, ahead of the U.S Agriculture Department’s monthly global supply and demand assessment that is expected to downgrade South American crop production. Corn also eased, while wheat firmed, underpinned by ongoing dryness across the U.S southern Plains.

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All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partners prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.

A more hawkish tone from both the ECB and the Fed last week caught markets off guard

• The dollar was boosted yesterday by a climb in Treasury yields to multi-year peaks
• Traders wait on U.S inflation data this week for clues on the pace of Fed policy tightening
• The euro continued to retreat from near a three-month high to Japan's currency
• ECB President earlier this week tapped down expectations of aggressive interest rate hikes

The dollar touched a one-month high versus the yen today, boosted by a climb in Treasury yields to multi-year peaks overnight as traders wait on U.S. inflation data this week for clues on the pace of Federal Reserve policy tightening. 

The euro continued to retreat from near a three-month high to Japan's currency after European Central Bank President Christine Lagarde earlier this week tapped down expectations of aggressive interest rate hikes. A more hawkish tone from both the ECB and the Fed last week caught markets off guard and sent yields soaring on the eurozone and U.S. debt in anticipation rates could rise faster and higher than previously expected. 

Economic Calendar

The dollar rose at one point in early Asian trading to 115.69 yen, the highest since Jan. 10, before pulling back to last trade 0.08% lower at 115.43. The 10-year Treasury yield surged as high as 1.97% on Tuesday for the first time since Nov. 2019. The yield on the two-year note, which is more sensitive to interest rate expectations, reached 1.347 for the first time since February 2020. 

Markets are pricing in more than a 70% chance of a 25 basis point hike and a nearly 30% chance for a 50 basis point hike when U.S. policymakers meet in March, according to CME's Fed Watch Tool. High U.S inflation may go even higher before getting better, San Francisco Fed President Mary Daly said on Tuesday. 

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Consumer prices probably climbed 7.3% year-over-year in January, economists polled by Reuters predict U.S data will show on Thursday. The dollar index, which gauges the greenback against six major peers, edged 0.02% higher to 95.614, after bouncing off a 2-1/2-week low of 95.136 reached Friday. It touched the highest since June 2020 at 97.441 at the end of last month. 

The dollar index is in a holding pattern while markets weigh up the prospect of an abrupt Fed policy tightening against the ECB's hawkish backflip. Although a more hawkish ECB will keep a lid on dollar gains near-term, the dollar's medium-term bull trend is still intact, and the dollar index is a buy-on dip to the low 95 levels. 

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The ECB's Lagarde said on Monday there was no need for extensive tightening, trying to temper rising expectations for aggressive action after she last week opened the door a crack to a potential rate rise this year. The euro was about flat at $1.1420, following its gradual retreat from a peak of $1.1483 on Friday, which matched the highest level in almost three months.

Euro

The single currency weakened in yesterday’s session after European Central Bank President Christine Lagarde tried to rein in interest rate hike expectations that lifted the currency to a three-week-high last week. The ECB's hawkish twist last week took markets by surprise and sent yields on peripheral eurozone debt surging. Overall, the EUR/USD traded with a low of 1.1413 and a high of 1.1461 before closing the day around 1.1441 in the New York session.

Yen

The Japanese Yen fell as the dollar was boosted by a climb in Treasury yields to multi-year peaks overnight as traders wait on U.S inflation data this week for clues on the pace of Federal Reserve policy tightening. Markets are pricing in more than a 70% chance of a 25 basis point hike and a nearly 30% chance for a 50 basis point hike when U.S policymakers meet in March. Overall, the USD/JPY traded with a low of 114.89 and a high of 115.36 before closing the day around 115.09 in the U.S session.

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British Pound

The British Pound gained versus the euro for a second consecutive day, pulling back from a 1-1/2 month low hit on Monday as investors judged that any monetary tightening by the European Central Bank will significantly lag its British counterpart in the near term. We’re still of the view that in six months’ time, UK rates will be in positive territory. Overall, the GBP/USD traded with a low of 1.3488 and a high of 1.3549 before closing the day at 1.3534 in the New York session.

Canadian Dollar

The Canadian Dollar weakened against its U.S counterpart, giving back some of the previous day's sharp gains, as oil prices fell and domestic data showed a surprise trade deficit. Some of that weakness has been attributed to the pullback we're seeing with crude prices. The relentless rally with oil it seems to be showing some exhaustion. Overall, USD/CAD traded with a low of 1.2655 and a high of 1.2754 before closing the day at 1.2664 in the New York session.

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Australian Dollar

The Australian Dollar inched higher today as global markets priced in the risk of a more drastic tightening by central banks, sending local bond yields to three-year peaks. Markets have likewise moved to price in more moves by the Reserve Bank of Australia (RBA), after the central bank conceded a rate rise could come late next year if the economy continued to surprise on the upside. Overall, AUD/USD traded with a low of 0.7169 and a high of 0.7228 before closing the day at 0.7171 in the New York session.

Euro-Yen

EUR/JPY is trading below 14, 50 and 100 days moving average. Fast stochastic is giving a bearish tone and MACD is also issuing a bearish stance. The Relative Strength Index is above 41 and lies below the neutral zone. In general, the pair has lost 0.15%.

Sterling-Yen

Currently, GBP/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is issuing a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 45 reading and lies below the neutral zone. On the whole, the pair has lost 0.01%.

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Aussie-Yen

Currently, the cross is trading above 14, 50 and below 100 days moving average. Fast stochastic is giving a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 43 reading and lies below the neutral region. In general, the pair has gained 0.63%.

Euro-Sterling

This cross is currently trading below 14, 50 and below 100 days moving average. Fast stochastic is indicating a bullish tone and MACD is also issuing a bullish signal. The Relative Strength Index is above 44 and lies above the neutral region. Overall, the pair has lost 0.17%.

Sterling-Swiss

This cross is trading above 14, 50 and 100 days moving average. Fast stochastic is issuing a bearish stance and MACD is also indicating a bearish tone. The Relative Strength Index is above 46 and lies above the neutral region. In general, the pair has lost 0.14%.

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All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partners prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.

Elliott waves forex signal for USD/JPY

Let us start with the monthly forex trading chart, which is already a bit older but it gives a very good forex trading signal of where we are in the long-term cycle of this currency pair which is heavily traded by traders and investors in the forex markets.

From the '70s to 2011 a forex trading pulse movement has developed, which can be defined as wave [A] of the grand cycle. After the bottom of 2011, we are in the development of wave [B].  

A potential target for the development of this wave, in the long run, is the area around 220-260. I would like to make a small digression here for anyone who thinks that Central Banks can manipulate the long-term trend - they CAN NOT, neither any forex brokers nor any entity providing forex services and trading platforms.

This is an old forex trading chart of mine that traces the development in the forex markets of the 5th wave. Throughout the collapse, the Bank of Japan has been very busy trying to stop the appreciation of the yen and is constantly intervening directly in the forex markets (marked with red arrows on the chart), but on the weekly forex chart these interventions remain just noise and the trend continues where it is going. 

The irony is that at the bottom the BOJ is abandoning interventions and saying it will start lending to Japanese foreign companies to acquire assets. However, this bitter lesson is very instructive and definitely proves that the long-term trend cannot be manipulated and this could not affect the forex markets or any traders who are involved in forex trading.

Let's go back to today and look at the weekly forex chart below.

Let's go back to the present time. After the bottom of 2011. I consider the rise to 125.80 as an impulse with two extended waves (which is very rare) or A-B-C (zig-zag) correction for wave (A) or (W), respectively. 

Then we have a long correction for wave (C) or (X), which has developed as a complex correction or double zig-zag with shortened Y wave. In my opinion, this correction has ended at the bottom of January 2021 and we are developing the next ascending cycle. In the longer term, the potential target of this upward cycle is the area around 146-150.

On the daily forex trading chart, I am currently considering two trading scenarios. According to the first (with red on the chart), we are developing wave 4 and there will be an upward movement for wave 5 with a potential target area around 118. 

The other possible option (with blue on the chart) is yet to begin the development of wave 3, this means direct acceleration to zone 121, lateral consolidation, and rise to about 124-125.

Elliott waves signal for Silver

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Markets are on alert for rate rises in both the eurozone and the United States

Wall Street shares finished broadly lower yesterday, while European stocks rose following five straight weeks of declines and European bond yields soared on speculation of monetary tightening. 

Markets are on alert for rate rises in both the eurozone and the United States after the ECB last week was considered to have adopted a more hawkish tone. The United States reported stronger-than-expected jobs and earnings data. European Central Bank President Christine Lagarde yesterday calmed some of those jitters, saying there were no signs that measurable monetary policy tightening would be required. 

Economic Calendar

Major Wall Street stock indexes were mixed throughout the session on Monday before ending down as markets digested mixed quarterly results from mega-caps Amazon.com Inc. and Facebook owner Meta Platforms. The market's inability to rally on Friday's strong payroll data, and generally poor stock reactions to Q4 results despite healthy earnings delivery, illustrate the overly bearish market sentiment at the moment.

Dow Jones Industrial Average

The Dow Jones Industrial Average gained 0.00%. The best performers of the session on the Dow Jones Industrial Average were Boeing Co, which rose 2.65% or 5.47 points to trade at 211.92 at the close. Meanwhile, Chevron Corp added 1.97% or 2.67 points to end at 138.55 and American Express Company was up 1.09% or 2.02 points to 187.87 in late trade. The worst performers of the session were Microsoft Corporation, which fell 1.63% or 4.99 points to trade at 300.95 at the close. Merck & Company Inc. declined 1.25% or 0.98 points to end at 77.58 and Dow Inc. was down 1.14% or 0.69 points to 59.91.

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NASDAQ 100

The NASDAQ index declined 0.58%. The top performers on the NASDAQ Composite were Kaival Brands Innovations Group Inc. which rose 51.40% to 1.620, Origin Agritech Ltd which was up 34.81% to settle at 6.390 and Luokung Technology Corp which gained 24.31% to close at 0.630. The worst performers were Dermata Therapeutics Inc. which was down 34.68% to 1.45 in late trade, Cerence Inc. which lost 31.41% to settle at 43.61 and Nisun International Enterprise Development Group Co Ltd which was down 24.83% to 1.09 at the close.

Oil

Oil slipped to around $92 a barrel today ahead of the resumption of indirect talks between the United States and Iran, which may revive a nuclear agreement that could eventually allow more oil exports from the OPEC producer. 

A deal could allow over 1 million barrels per day of Iranian oil, equal to over 1% of global supply, back onto the market. The talks over the nuclear deal will resume today in Vienna. U.S crude fell 52 cents, or 0.6%, at $90.80. Eight rounds of indirect talks between Tehran and Washington since April have yet to result in an agreement on resuming the 2015 nuclear deal. 

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Differences remain about the speed and scope of lifting sanctions on Tehran. Oil also came under pressure from the prospect of an increase in U.S crude inventories. Analysts estimate inventories have risen by 700,000 barrels in the week to Feb. 4. The first of this week's two supply reports, from the API, is out will be out today.

Precious and Base Metals

Gold prices climbed to a more than one-week high yesterday, supported by inflation worries and lingering geopolitical risks, as markets awaited key U.S inflation data for cues on the Federal Reserve's interest rate hike trajectory. Spot gold rose 0.7% to $1,820.23 per ounce, after hitting its highest level since Jan. 27 at $1,820.96 earlier in the session. 

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There's a bit more flight-to-safety buying in the gold market. The main concern right now is where are we headed with inflation and how aggressive the Fed will be. Benchmark 10-year U.S. Treasury yields hovered near their highest levels since December 2019 after an upbeat U.S. employment report on Friday. U.S. inflation figures for January are due on Thursday, with markets now pricing in a one-in-three chance the Fed might hike by a full 50 basis points in March. 

Although gold is considered a hedge against higher inflation and a safe store of value in times of uncertainty, higher rates raise the opportunity cost of holding non-yielding bullion. Russia-Ukraine tensions are also on the back of everyone's minds. White House national security adviser Jake Sullivan said on Sunday that Russia could invade Ukraine within days or weeks but might still opt for a diplomatic path. 

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Gold and silver prices were boosted in part by a U.S. dollar index that has dropped sharply from its late-January high. Meanwhile, speculators cut their net long COMEX gold position in the week to Feb. 1, data showed on Friday. Among other precious metals, silver jumped 2.4% to $23.02 per ounce, platinum declined 0.4% to $1,020.02, and palladium fell 1% to $2,261.51.

Traditional Agricultures

Soybean edged lower, easing from an eight-month high hit in the previous session, ahead of a U.S Department of Agriculture supply and demand report but concerns over dry weather conditions in South America limited losses. Corn and wheat futures also lost ground, shedding some of the previous session's gains. The market continues to revise its assessment of South American crops. The market is also seeing plenty of evidence of export demand from the U.S. to bolster that bullishness. Markets are positioning ahead of world grain and oilseed supply and demand forecasts from the USDA on Wednesday.

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All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partners prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.

Euro eased after ECB President calmed market expectations of a quick hike in interest rates

• Sterling rose against the euro on Monday, catching a break after a sharp slide last week
• The Canadian dollar rallied yesterday by the most in two months against its U.S counterpart
• The Australian and New Zealand dollars were trying to sustain a rally today in the Asian session

The dollar and the euro both eased on Monday after European Central Bank President Christine Lagarde calmed market expectations of a quick hike in interest rates that pushed regional bond yields in Europe up to multi-year highs.

There is no need for big monetary policy tightening in the eurozone as inflation is set to decline and could stabilize around the ECB's target of 2%, Lagarde told a European Parliament hearing. Last week the ECB opened the door to a rate hike later in 2022 as inflation risks rose, while data showing an unexpected jump in U.S jobs created in January also raised speculation of a faster timetable for the Federal Reserve to hike rates. 

Economic Calendar

The new rate expectations for both the Fed and ECB pit the dollar and euro against each other as to which will gain an upper hand. U.S consumer price data to be released on Thursday is poised to be a key data point determinant. The euro-dollar will be in a kind of tug of war between these two forces, but ultimately with CPI in the U.S., we're probably due for a bit more of a dollar recovery.

A Reuters poll of economists showed they expect year-over-year CPI to have climbed to 7.3% in January. The major currencies traded in a tight range near break-even. The dollar index fell 0.045%, with the euro down 0.03% to $1.1443. The ECB last week got the ball moving in a positive direction for the euro. 

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Now the focus has shifted to U.S. inflation, which the market will use to figure out whether the Fed goes by 25 basis points or 50 basis points next month. Markets have now priced in a one-in-three chance the Fed might hike by a full 50 basis points in March, and reasonable chance rates will reach 1.5% by year-end. 

The European common currency hit its highest since mid-January on Friday, driven by the hawkish turn from the ECB. Not everyone is convinced of a hawkish ECB tilt. We don't believe the ECB is bracing for the sudden acceleration of tightening. We still see the Fed as being on track to move well ahead of the ECB, providing support for the dollar. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 2.4 basis points at 1.298%. The yield on two-year German bonds fell by 3.5 bps to -0.29%, after hitting its highest since September 2015 at -0.21%.

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Euro

The single currency leaped 2.7% last week after a hawkish shift in tone at the European Central Bank. Stunningly strong U.S labor data last week has put extra focus on inflation - forecast at a four-decade high 7.3% - in the lead up to March's Federal Reserve meeting. Futures markets are pricing an almost 1-in-3 chance of a 50 basis point rate rise. Overall, the EUR/USD traded with a low of 1.1413 and a high of 1.1461 before closing the day around 1.1441 in the New York session.

Yen

The Japanese Yen traded slightly lower against the U.S Dollar as traders awaited U.S inflation data, wary it could unleash bets on faster interest rate hikes. The surprise beat by the non-farm payroll numbers (which we were warned by Fed officials and the White House would be very weak due to Omicron) leaves the Fed in unexpected territory. Overall, the USD/JPY traded with a low of 114.89 and a high of 115.36 before closing the day around 115.09 in the U.S session.

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British Pound

The British Pound rose to catch a break after a sharp slide last week triggered by the ECB message it no longer ruled out a 2022 interest rates hike which overshadowed the Bank of England’s rate rise. BoE Governor Andrew Bailey may sound hawkish but only because he faces a more uncomfortable trade-off between inflation and growth than others Overall, the GBP/USD traded with a low of 1.3488 and a high of 1.3549 before closing the day at 1.3534 in the New York session.

Canadian Dollar

The Canadian Dollar rallied by the most in two months against its U.S counterpart, as investors took advantage of Friday's selloff following weak domestic jobs data to buy the currency at cheaper levels. On Friday, the loonie touched its weakest intraday level since Jan. 28 as data showed the Canadian economy losing more jobs than expected in January. Overall, USD/CAD traded with a low of 1.2655 and a high of 1.2754 before closing the day at 1.2664 in the New York session.

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Australian Dollar

The Australian Dollar trying to sustain a rally as an improved tone in global equity markets and strength in commodity prices offered a break from recent selling. The Reserve Bank of Australia (RBA) continues to argue that inflation is not as much of a threat in Australia as in some other developed nations and it thus has scope to be patient on interest rates. Overall, AUD/USD traded with a low of 0.7169 and a high of 0.7228 before closing the day at 0.7171 in the New York session.

Euro-Yen

EUR/JPY is trading below 14, 50 and 100 days moving average. Fast stochastic is giving a bearish tone and MACD is also issuing a bearish stance. The Relative Strength Index is above 41 and lies below the neutral zone. In general, the pair has lost 0.15%.

Sterling-Yen

Currently, GBP/JPY is trading below 14 and above 50, 100 days moving average. Fast stochastic is issuing a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 45 reading and lies below the neutral zone. On the whole, the pair has lost 0.01%.

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Aussie-Yen

Currently, the cross is trading above 14, 50 and below 100 days moving average. Fast stochastic is giving a bearish tone and MACD is also indicating a bearish stance. The Relative Strength Index is above 43 reading and lies below the neutral region. In general, the pair has gained 0.63%.

Euro-Sterling

This cross is currently trading below 14, 50 and below 100 days moving average. Fast stochastic is indicating a bullish tone and MACD is also issuing a bullish signal. The Relative Strength Index is above 44 and lies above the neutral region. Overall, the pair has lost 0.17%.

Sterling-Swiss

This cross is trading above 14, 50 and 100 days moving average. Fast stochastic is issuing a bearish stance and MACD is also indicating a bearish tone. The Relative Strength Index is above 46 and lies above the neutral region. In general, the pair has lost 0.14%.

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All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partners prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.

Trade Zone Week Ahead with David Floyd

We're into the second week of our David Floyd guest spot on our new Trade Zone series, and today he's here to help you get your new trading week off to a good start with our latest Week Ahead. 

A professional forex and futures trader with over 25 years of experience, as well as being president of Aspen Trading Group, David takes you through a few of the key support and resistance levels he's currently watching as markets open this morning. Tune in below to find out what happened and what might occur with the S&P 500, the Aussie Dollar, and a host of other assets as a new trading week begins.

Eightcap Trade Zone Week Ahead with David Floyd (Aspen Trading) | 7th - 11th February

Don't forget to join David again this coming Thursday at 1 am GMT as he sits down and gives us another update on how the markets have played out so far and what he's looking at as we head into the weekend. There will also be an opportunity for you to ask questions to David directly about the other trading setups happening this week.

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