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US futures foreshadow positive trading on Wall Street on May 3, 2021

Investors from the Asia-Pacific region are keeping an eye on the COVID-2019 situation in India as the country continues to struggle with the second wave of infection. Over the past weekend, more than 400 thousand new cases of the disease were registered - this is a new anti-record. Hong Kong's Hang Seng index fell 1.34% to 28,339.87 points, while Korea's KOSPI fell 0.66% to 3,127.2 points. Markets in mainland China and Japan are closed on Monday due to the holidays. Oil prices are also declining: Brent futures fell by 0.12% to $66.63 per barrel, Light - by 0.2% to $63.45. The slowdown in business activity in China, as well as the difficult situation with the coronavirus in India, are putting pressure on prices. US and European index futures are rising ahead of the first trading day in May. Futures for the US S&P index are up 0.53%, investors have bet on a significant recovery in the economy and profits after the pandemic. 

Today, investors will be watching the US manufacturing PMI data for April, as well as reports from Lowe's, Estee Lauder and ON Semiconductor. Futures for the pan-European STOXX Europe 600 Index rose 0.55%, following the US Dollar. 

The UK market is closed today.

Trader Avatar TradWheel

 

View forecasts for S&P 500, EURO STOXX 50, Hang Seng Index

Other blogs by this trader

XRP cryptocurrency forecast for the week of May 10-14, 2021
The Ripple cryptocurrency ends the trading week near the 1.5887 area. XRP/USD quotes are trading above the Ichimoku Kinko Hyo Cloud. This indicates the presence of an upward trend in the Ripple coin. As part of the forecast of the digital currency exchange rate for the trading week of May 10-14, 2021. The correction is expected to develop and test the upper limit of the Ichimoku indicator near the level of 1.3605. Where should we expect a rebound and an attempt to continue the rise of the cryptocurrency rate with a goal near the level of 2.1505. XRP cryptocurrency forecast for the week of May 10-14, 2021An additional signal in favor of the rise of the cryptocurrency will be a test of the support level on the price chart. The second signal will be a rebound from the lower border of the ascending channel. Earlier, a strong signal was received for purchases of the Ripple cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 1.3805. The nearest resistance area is located at 1.8505. The support area for XRP / USD is located at 0.9005. XRP cryptocurrency signal for the week of May 10-14, 2021 The cancellation of the growth option for Ripple quotes will be a breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1.1505. This will indicate a change in the bullish trend in favor of a downward trend. Expect an acceleration in the rise of the cryptocurrency with a breakdown of the resistance area and a close above the level of 1.8505.Thus, the XRP exchange rate forecast of the cryptocurrency for the week of May 10-14, 2021 suggests an attempt to develop a correction to the level of 1.3605. Where to expect a rebound and continued growth of the cryptocurrency with a potential target near the level of 2.1505. A test of the lower boundary of the bullish channel will be in favor of the rise. The cancellation of the growth option will be a fall and a breakdown of the area of 1.1505. In this case, we should expect a decline in Ripple with a potential target at 0.8505.
09.05.2021 Avatar TradWheel Read
Litecoin forecast for the week of May 10-14, 2021
The Litecoin cryptocurrency ends the trading week near the area of 345.33. LTC/USD quotes are trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bullish trend for Litecoin. As part of the forecast of the cryptocurrency exchange rate for the next week on May 10-14, 2021. An attempt is expected to develop a correction and test the area of the indicator's signal lines near the level of 305.05. From where we should expect a rebound and an attempt to grow LTC / USD with a goal above the level of 475.05. Cryptocurrency Litecoin forecast for the week of May 10-14, 2021An additional signal in favor of the rise of the cryptocurrency will be a test of the support level. The second signal will be a rebound from the lower border of the ascending channel. Earlier, a medium-strength signal was received for purchases of the Litecoin cryptocurrency. The signal was formed due to the intersection of the signal lines at the level of 185.05. The nearest resistance area is located at the level of 375.05. The support area for LTC / USD is located at the level of 255.05. Cryptocurrency Litecoin signal for the week of May 10-14, 2021 The cancellation of the Litecoin growth option will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 215.05 area. This will indicate a change in the bullish trend in favor of the bearish trend and a continuation of the fall. Expect an acceleration in the growth of the cryptocurrency with a breakdown of the resistance area and a close above the level of 425.05.Thus, the Litecoin exchange rate forecast for the week of May 10-14, 2021 suggests an attempt to develop a correction to the level of 305.05. Where should we expect a rebound and continued growth of the cryptocurrency with a potential target near the level of 475.05. The rebound from the lower border of the ascending channel will be in favor of the rise. The cancellation of the growth option of the coin rate will be a fall and a breakdown of the 215.05 area. In this case, we should expect the Litecoin digital currency to continue falling, with a potential target at 75.05.
09.05.2021 Avatar TradWheel Read
Ethereum forecast for the week of May 10-14, 2021
The Ethereum cryptocurrency ends the trading week near the area of $3567.42. ETH/USD quotes are trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bullish trend for Ethereum. As part of the forecast of the digital asset exchange rate for the current week, May 10 — 14, 2021. It is expected to test the signal lines of the Ichimoku Kinko Hyo indicator near the level of $2955.05. From where we should expect an attempt to rebound and continue the growth of the cryptocurrency with a goal at the level of $4350.05. Cryptocurrency Ethereum forecast for the week of May 10-14, 2021An additional signal in favor of the rise of the cryptocurrency will be a test of the support level. The second signal will be a rebound from the lower border of the bullish channel. Earlier, a strong signal was received for purchases of the Ethereum cryptocurrency. The signal was formed due to the intersection of signal lines at the level of $1670.55. The nearest resistance area is located at the level of $3655.05. The support area for ETH / USD is located at the level of $2535.05. Cryptocurrency Ethereum signal for the week of May 10-14, 2021 The cancellation of the option of increasing the value of Ethereum will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of $1575.05. This will indicate a change in the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of ETH/USD quotes with a breakdown of the resistance area and a close above the level of $3855.05.Thus, the Ethereum exchange rate forecast for the week of May 10 — 14, 2021 suggests an attempt to develop a correction to the level of $2955.05. From where we can expect a rebound and continued growth of the cryptocurrency with a goal near the level of $4350.05. In favor of the rise in ETH/USD quotes this week, a test of the support level will act. The cancellation of the option of growth of the asset quotes will be a fall and a breakdown of the area of 1575.05. In this case, we should expect the continued growth of Ethereum with a potential target at $995.05.
09.05.2021 Avatar TradWheel Read
Bitcoin Cash forecast for the week of May 10-14, 2021
The Bitcoin Cash cryptocurrency ends the trading week near the area of $1431.98 and is trading within the correction and the ascending channel. BCH/USD quotes are moving above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bullish trend for Bitcoin Cash. In the current trading week of May 10 — 14, 2021, the correction is expected to develop and test the area of the Ichimoku Kinko Hyo indicator signal lines near $1215.05. From where we should expect an attempt to rebound and continue growth with a goal below the level of $1905.05. Bitcoin Cash forecast for the week of May 10-14, 2021An additional signal in favor of the rise of the BCH/USD cryptocurrency will be a test of the support area. The second signal will be a rebound from the lower border of the bullish channel. Earlier, a strong signal was received for purchases of the Bitcoin Cash cryptocurrency, due to the intersection of signal lines at the level of $955.05. Bitcoin Cash signal for the week of May 10-14, 2021 The cancellation of the option of raising the BCH/USD quotes will be a breakdown of the lower border of the indicator Cloud and closing below the level of $685.05. This will indicate a change in the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations with a breakdown of the resistance area and a close above the level of $1705.05.Thus, the Bitcoin Cash exchange rate forecast for the week of May 10 — 14, 2021 suggests an attempt to develop a correction to the level of $1215.05. From where we can expect a rebound and continued growth of the cryptocurrency with a potential target near the level of $1905.05. The support area test will be in favor of the rise. The cancellation of the growth option will be the breakdown of the $685.05 area. In this case, we should expect the Bitcoin Cash cryptocurrency to continue falling with a target below the level of $545.05.
09.05.2021 Avatar TradWheel Read
Bitcoin forecast for the week of May 10-14, 2021
The Bitcoin cryptocurrency ends the trading week near the area of $58877. BTC/USD quotes are trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates a medium-term bearish trend for Bitcoin. As part of the forecast of the cryptocurrency exchange rate for the week of May 10-14, 2021. The correction is expected to develop and test the lower border of the Ichimoku Kinko Hyo indicator Cloud near $55405. Where should we expect an attempt to rebound and continue the growth of the Bitcoin exchange rate against the US Dollar with a goal above the level of $77005. Сryptocurrency Bitcoin forecast for the week of May 10-14, 2021An additional signal in favor of the rise of the leading digital asset in the current trading week will be the test of the lower limit of the ascending channel. The second signal will be a rebound from the support area on the price chart. Earlier, a medium-strength signal was received, a signal for asset purchases. The signal was formed due to the intersection of signal lines at the level of $55405. The nearest resistance area is located at $65745. The support area for Bitcoin is located at the level of $42205. Сryptocurrency Bitcoin signal for the week of May 10-14, 2021 The cancellation of the option of raising Bitcoin quotes will be a breakdown of the lower border of the indicator Cloud and closing below the level of $49205. This will indicate a change in the bullish trend in favor of a downward trend and a continued decline in the value of the asset. Expect confirmation of the rise in BTC/USD quotes with the breakdown of the resistance area and the price closing above the level of $66005.Thus, the Bitcoin exchange rate forecast for the week of May 10-14, 2021 suggests an attempt to develop a correction to the level of $55405. Where to expect a rebound and continued growth of the cryptocurrency with a potential target near the level of $77005. The support level test will be in favor of the rise. The cancellation of the growth option will be a fall and a breakdown of the 49205 area. In this case, we should expect a continued decline in Bitcoin with a potential target at the level of $45055.
09.05.2021 Avatar TradWheel Read
Cryptocurrency Litecoin LTC/USD forecast for May 9, 2021
Litecoin  LTC/USD is trading at $329.88. The cryptocurrency quotes are trading above the level of the moving average with a period of 55. This indicates the presence of a bullish trend for Litecoin. At the moment, the cryptocurrency quotes are moving near the upper limit of the Bollinger Bands indicator bands. Cryptocurrency Litecoin LTC/USD forecast for May 9, 2021As part of the Litecoin exchange rate forecast, a test of the $321.50 level is expected. Where to expect an attempt to continue the growth of LTC/USD and further development of the upward trend. The target of this movement is the area near the level of $364.20. The conservative area for Litecoin purchases is located near the lower border of the Bollinger Bands indicator at the level of $248.20. Litecoin, 1D, Trader TradWheel Cryptocurrency Litecoin LTC/USD signal for May 9, 2021 The cancellation of the option to continue the growth of the Litecoin rate will be a breakdown of the lower border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of the pair's quotes below the area of $246.50. This will indicate a change in the current trend in favor of a bearish one for LTC/USD. In the event of a breakdown of the upper limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of the cryptocurrency.Cryptocurrency Litecoin LTC/USD forecast for today, May 9, 2021 suggests a test of the level of 321.50. Further growth is expected to continue in the area above the level of $364.20. The conservative purchase zone is located near the area of $248.20. The cancellation of the growth option of the cryptocurrency will be a breakdown of the level of $246.50. In this case, we should expect the fall to continue.
08.05.2021 Avatar TradWheel Read
US Federal Reserve do not expect a sharp increase in inflation
Large financial injections into the US economy will not lead to a sharp increase in inflation. According to representatives of the Federal Reserve. This point of view, in particular, was expressed by the head of the Federal Reserve Bank of Chicago, Charles Evans. Eric Rosengren, who heads the Boston Fed, also said that there may be some growth in consumer prices in the coming months, but it will not be very significant. Most likely, the increase in inflation will be observed for a short period of time. The statements of the representatives of the Federal Reserve are a response to criticism of the government's actions by some economists. They believe that the allocation of such a large amount of funds to support the economy will lead to a sharp increase in prices. The head of the US Federal Reserve, Jerome Powell, also rejects the existence of serious risks associated with inflation. He added that the stimulus package proposed by Biden is necessary in order to stabilize the situation in the country's labor market. Full employment must be achieved. Jerome Powell and other representatives of the regulator believe that it is too early to discuss reducing the volume of the asset purchase program.
06.05.2021 Avatar TradWheel Read
Silver grows 18 times faster than Gold
The growth of Silver over the past year has 18 times exceeded the rate of Gold price appreciation.Demand for Silver may rise to a six-year high this year amid increased industrial use of the precious metal and rising inflation.Over the past 12 months, Gold has risen by 4.3%, while prices have fallen by 6.5% since the beginning of this year. Silver has gained 78% in price over the year. This is the best indicator among precious metals (Palladium +60%, Platinum +59%).Since November, investors have been steadily reducing their investments in Gold ETFs (Exchange-Traded Funds). The volume of investments has fallen to about the same level as it was a year ago. However, in the case of silver, the situation is different: over the year, investments in Silver ETFs increased by a third.Global demand for Silver in 2021 will grow by 11% to 1.025 billion ounces, the Silver Institute predicts. The main driver of growth will be the improvement of the macroeconomic indicators of the world economy. Demand for physical Silver could rise to a six-year high of 257 million ounces.The company Heraeus Precious Metals recently published an analytical review, which notes that silver will show a better return in percentage terms this year than Gold.The rise in Silver prices will be supported by inflation and industrial demand, as the global economy gradually recovers from the effects of the spread of Covid-19. The precious metal is in demand in the electronics sector, as well as in the production of solar panels.In addition, precious metals are an excellent means of protecting your savings from inflation, especially during a crisis. In case of growing concerns about further acceleration of inflation, the demand for silver as a protective asset from investors will increase.
05.05.2021 Avatar TradWheel Read
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