Trade Idea (2020-11-26) Wait & see before Thanksgiving Holiday

Trade Idea

Good morning.

The US is a holiday (Thanksgiving) and the US stock market is closed, tomorrow (Friday) is Black Friday and it is not a holiday, but many people are closed and the US stock market will be shortened and will be in effect four consecutive holidays. It is a week when it is easy to adjust the position as a whole. Also, as the end of the month is approaching, be careful about rebalancing at the end of the month.

Yesterday’s US stocks were mixed with the Dow Jones Industrial Average falling and the Nasdaq rising slightly. The Dow Jones Industrial Average hit the $ 30,000 mark for the first time the day before, but today the rise has stopped before the four consecutive holidays including Thanksgiving. The spread of infection is continuing, and the market is in a tug of war between the immediate adverse effects of infection and vaccine development.

With USD selling dominance in the foreign exchange market, EURUSD remained in a narrow range around 1.19. The atmosphere of the pattern view is getting stronger before holidays in the United States. JPY was sold in the same way as USD, and USDJPY remained in the 104-yen range without any sense of direction.

EURUSD H1 (Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength

US market yesterday (last Friday)

DJIA: 29,872.47 (-173.77, -0.58%)
NASDAQ: 12,094.4 (+57.62, +0.48%)
S&P 500: 3,629.65 (-5.76, -0.16%)
GOLD: 1,809.1 (+3.6)
OIL: 45.93 (+0.22)
US 10-YR: 0.882 (UNCH)
VIX: 21.25 (-0.39)

Asian market today

Nikkei: 26,437 (+140)
CME Dow future: 29,874~(+1 Dow)

Economic indicators in this week

No important indicator today.