Hey Traders,
I hope everyone is doing well during this slow market ahead of Nvidia’s earnings, which will be released later today, after the US market close. Let me remind you that in the last two earnings reports, Nvidia surprised and sent stock prices higher across the board. I’m curious if something similar might happen today. We’re certainly seeing risk-on flows due to the weak US dollar, and there’s room for more upside on major indexes, potentially even back to all-time highs when looking at the US market.
If the dollar remains weak, other currencies such as the Euro, Aussie, and Pound could see more gains. Speaking of the Euro, we have a very nice and beautiful ongoing impulse, likely just now pulling back from the 1.12 area, which could be wave 4. There’s some solid support around the 1.1070 to 1.11 area, and I think there’s a good chance the market will stabilize after this dip and turn higher into the 5th wave. Of course, the price should remain above the 1.10 level, which we’ve highlighted as a key area in our video last week, and in webinar on Monday
Stay safe out there, and talk to you soon!
Grega
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