Should I leave my current job to become a fulltime trader.

[Alli]

While the weekly movements are difficult to predict, trend traders who are prepared to hold for the long term could find a long trade here interesting.

[Alli]

This pair is a long-term upwards trend, and it has been rising since the start of 2016, since when it has more than doubled in value. Palladium is a rare metal whose most major use is in manufacturing catalytic converters.

[Alli]

The market will probably crash or correct sharply eventually but meanwhile, there is money to be made on the long side. The fact that the week closed very close to its high is a bullish sign.

[Alli]

even though the financial media is full of warnings as to how stocks are about to crash. These warnings have been coming for months; those who ignored them and bought have been rewarded.

[Alli]

This pair is a strong long-term upwards trend, and just made a new all-time high price on Friday, which means it will probably continue to rise further. Buying stocks at all-time highs of the major index is usually a good strategy,

[Alli]

There was also an invalidation of a resistance level, and the price is above its level of 3 months ago. There is no long-term trend, but the signs technically are mildly bullish.

[Alli]

Technical Analysis

U.S. Dollar Index

This index printed a relatively large bullish candlestick, which closed down but in its top half and with a large lower wick.

[Alli]

Fundamental factors are mostly supporting the U.S. Dollar, but do not give obvious short counterparties.

[Alli]

Fundamental Analysis & Market Sentiment

The market is largely bullish and “risk-on”, with the stock market looking particularly strong, while the U.S. Dollar looks mildly bullish.

[Alli]

Following the current picture, I see the highest probability trades this week as long of the S&P 500 Index, and long of the precious metal Palladium in U.S. Dollar terms.