S&P500 on Track for Record Growth

Good day,
The US stock index S&P500 did not manage to gain the support at the level of 3665.00, aiming higher again. Currently, the asset’s price might face the resistance at the level of 3959.00, that is, historical maximum away from which it is likely to drop. Hence, it would be wise to wait and see what the index is about to do next.

The British pound is slowly approaching the level of 1.3720 away from which it might jump. Although, if correction is strong enough, this asset might break this level and drop. As for now, potential pullback is ahead.

Having pulled from psychological level of 0.8000, Australian dollar got back to the broken upper line of a flag. Having formed a bullish engulfing, asset’s price is repeatedly testing the broken line, therefore the asset is likely to jump and target the level of 0.8000 again.

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Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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