S&P500 continues to trade higher for 5th consecutive days on COVID-19 vaccine hopes. The easing of lockdown a slight decline in the number of new coronaviruses infected cases has increased market risk appetite. But weak US economic data and global recession due to corona might cap upside. The index has formed a temporary bottom around 2766 and jumped slightly above 200-day MA. It is currently trading around 3035.1.
The near term support stands at 3005 (200-day MA), any closing below daily will drag down till 2944 (200-day EMA)/2900/2873. The major sell-off will happen only if it breaks 2765 (May 14th low).
The immediate resistance is around 3050, any indicative break above targets 3094 (161.8% fib)/3138/3182.
It is good to sell on rallies around 3070-75 with SL around 3130 for the TP of 2902/2855.


FxWirePro- Woodies pivot (Major)
FxWirePro: USD/ CNY hits one-month low,scope for futher downside
Buy the Dips on EUR/JPY: Bullish Structure Points to 188 Target Ahead of Fed
FxWirePro: USD/ZAR firms ahead of Fed interest rate decision
FxWirePro- Major Pair levels and bias summary
FxWirePro:EUR/NZD gains some upside momentum but still bearish
NZDJPY Bullish Rebound: Buy Dips as EMAs Align for 97 Target
FxWirePro- Woodies pivot (Major)
AUD/JPY Slips Below 112 as BOJ Intervention Sparks Bearish Momentum: Sell the Rallies
FxWirePro: GBP/AUD drifts lower after BOE rate decision
FxWirePro: EUR/AUD regains upwards momentum but unable to hold above 50%fib level
NZD/JPY Flatlines Near 94.60: Will Key Support Reignite the Uptrend?
FxWirePro: GBP/AUD gains above 1.9200 level , upside pressure builds
Major Forex Pairs Action Bias: GBPUSD and AUDUSD Turn Extremely Bearish
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD dips below lower range, bearish bias increases
FxWirePro: GBP/USD edges lower ahead of Fed policy verdict 



