Stocks saw a pretty nice and positive close at the end of last week, so it looks like this risk-on sentiment could possibly continue this week, but before that be aware of some retracements. After some dips, there could be new opportunities, and who knows, the next potential pullback could come now after China’s Foreign Ministry said that they have not engaged in any trade talks with the US. So maybe the market got a bit ahead of itself, and some setbacks could make sense here on SP500 cash whith nice support for this week at 5350/5320 area.

So what about the USD at the same time? Well, there is a positive correlation still, so possibly DXY remains in this wave 4 rally too.

And yes, higher stocks can be positive for cryptos too. More about cryptos, FX, single stocks and metals in video below.

Grega

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