The Market Horoscope – The week of November 4, 2024
Welcome to The Market Horoscope, our weekly publication providing insights into the financial markets. We analyze stocks, commodities, cryptocurrencies, and forex to forecast potential market movements and help you navigate the complex market landscape.
Market Outlook
Key Economic Events This Week:
| Date | Day | Event/ Report | Currency |
|---|---|---|---|
| 5-11-2024 | Tuesday | Interest rate | AUD |
| 5-11-2024 | Tuesday | Elections | USD |
| 6-11-2024 | Wednesday | Employment | NZD |
| 7-11-2024 | Thursday | Interest rate | GBP |
| 7-11-2024 | Thursday | Unemployment claims | USD |
| 7-11-2024 | Thursday | Interest rate | USD |
| 7-11-2024 | Friday | Employment | CAD |
Market Insights
The Analysis
Expect one of the most volatile weeks of the year! US elections being the biggest one and three major currencies including the US$ announcing their interest rates. Needless to say, short-term trading can be avoided after Monday. Stick with the higher timeframes, and plan long term trades.
The Insights
The DXY (US Dollar Index) is coming into an area of resistance at 105.5
The Action
Look to Short DXY, and Long on Equities, Gold and other currencies.
The Timing
Thursday
Having a solid understanding of the economic cycle is crucial. Reacting to news and reports in real-time can be counterproductive. We are committed to providing accurate market forecasts and welcome your feedback and questions on our predictions. Your engagement helps us refine our insights and better serve you.
Note: Our predictions are based on current data and market trends. Before making investment decisions, consider your risk tolerance and consult a financial advisor.