Learn To Trade
 
Indicators & Chart Patterns

Deepen your knowledge of technical analysis indicators and hone your skills as a trader.

Find your detailed guides here
Trading Glossary

From beginners to experts, all traders need to know a wide range of technical terms. Let us be your guide.

Learn More
Trading Glossary

From beginners to experts, all traders need to know a wide range of technical terms. Let us be your guide.

Learn More
Knowledge Base

No matter your experience level, download our free trading guides and develop your skills.

Learn More
Learn To Trade

Trade smarter: boost your skills with our training resources.

Create a live account
Market Analysis
 
Market News

All the latest market news, with regular insights and analysis from our in-house experts

Learn More
Economic Calendar

Make sure you are ahead of every market move with our constantly updated economic calendar.

Learn More
Technical Analysis

Harness past market data to forecast price direction and anticipate market moves.

Learn More
Live Webinars

Boost your knowledge with our live, interactive webinars delivered by industry experts.

Register now
Market Analysis

Harness the market intelligence you need to build your trading strategies.

Create a live account
Partnership
 
Affiliate Programme

Grow your business and get rewarded. Find out more about our Affiliate Programme today.

Learn More
Money Manager

Increase your income and get compensated for your trading knowledge with ThinkInvest, putting you in control.

Learn More
API Trading

Create your own trading platform or data tools with our cutting-edge APIs.

Learn More
Introducing Broker

ThinkMarkets ensures high levels of client satisfaction with high client retention and conversion rates.

Learn More
White Label

We supply everything you need to create your own brand in the Forex industry.

Learn More
Regional Representatives

Partner with ThinkMarkets today to access full consulting services, promotional materials and your own budgets.

Learn More
Partnership

Plug into the next-gen platforms and the trades your clients want.

Create a live account
About ThinkMarkets
 
About Us

Find out more about ThinkMarkets, an established, multi-award winning global broker you can trust.

Learn More
Security of Funds

Security of your funds is our number one priority. Find out more about our insurance policy with Lloyd's of London.

Learn More
Trading Infrastructure

When it comes to the speed we execute your trades, no expense is spared. Find out more.

Learn More
ThinkMarkets News

Keep up to date with our latest company news and announcements.

Learn More
Contact Us

Our multilingual support team is here for you 24/5.

Learn More
About ThinkMarkets

Global presence, local expertise - find out what sets us apart.

Create a live account
search
Create account

Pfizer vaccine update provides fresh shot in the arm for stocks, risk assets

Fawad Razaqzada Fawad Razaqzada 17/11/2020
Pfizer vaccine update provides fresh shot in the arm for stocks, risk assets Pfizer vaccine update provides fresh shot in the arm for stocks, risk assets
Pfizer vaccine update provides fresh shot in the arm for stocks, risk assets Fawad Razaqzada
The markets have been relatively quiet so far this week, with investor sentiment remaining largely positive thanks to the cheerful news we have heard from the vaccine front. Dips in stocks, crude oil, commodity dollars and emerging market currencies continue to be bought, while safe haven gold continues to struggle.  

Today it was Pfizer’s turn to take the limelight back from Moderna. The pharma giant said that a final data analysis shows its Covid vaccine is 95% effective and plans to submit an application to FDA for emergency use in "days." The news was met with cheer as stock index futures extended their gains.
But the pace of the rally has slowed down somewhat over the past few days, despite the vaccine news. Investors are torn between expectations for a more normal future with the developments of vaccines and the current situation with the rapidly spreading virus infections and lockdowns, causing more economic pain across the West. However, as there is now light at the end of the tunnel, the downside has been limited for risk assets and the bullish trend has remained intact for the global indices and other risk assets.

Unless something changes dramatically, there is little reason for short sellers to step in aggressively yet. Thus, I think that the bulls will remain in overall control of price action for risk assets for a while yet.

FTSE sets stage for fresh breakout

It is thus worth keeping a close eye on the FTSE, is looking quite bullish as investors warm further towards financials, materials, industrials and energy stocks – constituents that make up the bulk of the shares listed in the FTSE 100 index:

FTSESource: ThinkMarkets and TradingView.com

The UK benchmark index looks like it is following a path towards 7100-ish, roughly the point D of a potential Gartley – a Fibonacci-based technical – pattern. Obviously, that target looks miles away from here, but at least the path of least resistance remains to the upside for now. The index has spent a few days now consolidating near its recent highs and a fresh breakout could be on the cards to initially take us to a new post-lockdown high above the summer peak of 6511.
 
Meanwhile the index has help key support at 6300, which was previously resistance. For as long it doesn’t go below this level on a daily closing basis, the short-term bullish bias would remain intact. Insofar as the slightly longer-term technical bullish bias is concerned, 6040 is now the line in the sand for the bulls.
Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

Learn more to earn more

our Education center

Related articles:

Monday’s Bullseye: 25 January 2021

By Fawad Razaqzada

22/01/2021

GBP/USD downside could be limited

By Fawad Razaqzada

22/01/2021

EUR/USD may rebound despite dovish ECB

By Fawad Razaqzada

21/01/2021

Gold rises as dollar falls again

By Fawad Razaqzada

20/01/2021

Stocks, precious metals and pound all rally

By Fawad Razaqzada

20/01/2021

Meet our contributors
Mohammed Zidan
×
Mohamed Zidan
Chief Market Strategist, Dubai

Mohamed Zidan is a chief market strategist in Dubai and CFA Level III candidate. He reports to London office and has more than eight years of experience focusing on Forex, Commodities, Indices and global economic developments as well as central bank policies and intermarket analysis. worked as FX Analyst, and Strategist in several different organizations and for various departments. He holds a bachelor’s degree from Cairo University in Egypt. Mohamed Zidan is a regular guest on several major TV networks such as; CNBC Arabia, Fran24 Arabic, Alarabiya , Dubai TV, Sama Dubai, Skynews Arabia, Saudi National News, and Egypt National news.

Zidan presents insight to the markets movements, holds open discussions and relays possibilities related to the world’s financial market and economies.

Mohamed Zidan has been invited as a guest speaker for several international seminars. Zidan provides daily and weekly outlook for the markets. His experience ranges from currencies, commodities, stocks and options. he applies a top-down, global macro approach combined with price action to generate trade ideas and anticipate the next move.

Victor Golovtchenko
×
Victor Golovtchenko
Global Macro Analyst, Sofia

Victor Golovtchenko has been analysing and trading foreign exchange markets since 2004, and is actively involved in the online media space since 2014. His tenure as a Senior Editor at a major brokerage industry news outlet was followed with a breakthrough into the financial news space with the brand new TradeStar website.

As an affectionate macro-focused analyst, he has an integrated framework to look at financial markets as a whole, identifying gaps between currencies, stocks, bonds, and other asset classes to get a core complete picture of the macroeconomic environment.

Fawad Razaqzada
×
Fawad Razaqzada
Market Analyst, London

Fawad is an experienced analyst and economist having been involved in the financial markets since 2010, producing market commentary and research for a number of global FX, CFD and Spread Betting brokerage firms. He leverages years of market knowledge to provide retail and professional traders worldwide with succinct fundamental & technical analysis. Fawad also offers trading education to help shorten the learning curves of developing traders.
 
His colleagues consider him an expert at reading price action on the charts. This together with his deep understanding of economics and fundamental analysis, and trading experience, puts him in a great position to forecast short term price movements. Fawad covers a wide range of markets, including FX, commodities, stock indices and cryptocurrencies and his comments are regularly quoted by the leading financial publications such as Reuters and Market Watch. In addition to ThinkMarkets, Fawad also provides analysis and premium trade signals on his own website at TradingCandles.com.
 
 

Carl Capolingua
×
Carl Capolingua
Market Analyst, Melbourne

Carl has over 20 years' experience in financial markets and has held senior analyst roles at a number of financial institutions. Specialising in Australian and US stock markets in particular, Carl uses a top-down approach to assess the global macro picture before using both technical and fundamental techniques to select stocks. He regularly appears as an expert commentator on a number of media outlets throughout the Asia-Pacific region.
 
 
 

Mohammed Zidan
Mohamed Zidan
He has more than eight years of experience focusing on Forex, Commodities, Indices and global economic developments as well as central bank policies and intermarket analysis.
Victor Golovtchenko
Victor Golovtchenko
Victor Golovtchenko has been trading on the foreign exchange markets since 2004, and is actively involved in the online media space since 2014. His tenure as a Senior Editor follows his role with TradeStar.
Fawad Razaqzada
Fawad Razaqzada
Fawad is an experienced analyst and economist having been involved in the financial markets since 2010, producing market commentary and research for a number of global FX, CFD and Spread Betting brokerage firms.
Carl Capolingua
Carl Capolingua
Carl has over 20 years' experience in financial markets and has held senior analyst roles at a number of financial institutions.

Feel confident?

Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Back to top