House Speaker Nancy Pelosi has set a deadline for the White House to reach an agreement with Democrats that could be passed before Election Day. Pelosi was interviewed on Sunday on ABC’s “This Week.” In the interview, Pelosi said that a key issue in delaying the talks was the language used and how much discretion President Trump would have over the Stimulus spending. It is feared that the use of stimulus funds will be diverted to electoral interests. “When you say ‘can’ you are giving the president a bribe fund. He can do this, he can concede, you can withhold. When you say ‘must’ , what science says must happen, for example… we can open our schools, we can open our businesses, “he said. Pelosi agrees that “we still do not have an agreement on the language, I am hopeful.” The impact on the dollar will be ahead of schedule and the approval of the second stimulus plan will have a direct impact on the international market and currencies.
Market forecasts of the week #EURUSD #GBPUSD #USDJPY #USDCAD #AUDUSD #XAGUSD #XAUUSD # SP500 # US30 #DAX
*** Week of volatility before the elections *** Trade live, choose your plan
EURUSD closed its week on sale. The preference for next week is buy above 1.1720 to 1.1730 and extension 1.1740. If the Brexit negotiations do not progress, the euro will have selling pressure below 1.17 or at the highs of 1.1750. Caution with maximums of 1.1750. The preference is to buy as long as Brexit does not get in the way of the week.
GBPUSD closed its week on sale. The preference is buyer above the level of 1.3930 to 1.3950 and 1.3980. Once the price at the 1.30 levels we return to the maximum with possible sales in the area. If the price opens below 1.29 in the week we tend a change of strategy to sell until 1.2870.
USDJPY closed its week for sale. Below 105.50 we expect sellers. We avoid the consolidation zone between 105.30 and 105.20. Sell below 105.20 to avoid the consolidation area and thus take advantage of the increased selling pressure to 105.05.
UDSCAD closed its week for sale. Below 1.32 we return the sellers to 1.3160 with an extension to 1.3030. The purchase remains only above 1.3210 we return to the purchase until 1.3250.
AUDUSD closed its sale week. Below 0.7070 we continue to sell until 0.7030. Hawkish monetary policy could reverse the Australian dollar. The purchase will only be made above 0.7090. As long as we do not have a price staying above 0.7090 we will not change our strategy and we will remain selling.
XAUUSD XAGUSD closed their week on sale. In commodities the strategy remains buy. In gold we go by buying above 1900.0 until 1910.0 and 1916.0. The price below 1900.0 remains for sale until 1894.90 with an extension to 1889.0. If the dollar remains seller in the week it will bring more buyers in commodities. In silver we maintain a buy strategy above 24.0 to 24.30. Above 24.30 we go back to shopping until 24.50.
International indices SP500, DAX, US30 . They closed their week for sale. The preference is kept buying. It is essential to identify significant buying prices in the indices otherwise sellers could continue.
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