Emini Nasdaq longs found support between 25300 and 25200 and bounced back to the 25800/25850 range. The index is now targeting 26100, with the possibility of reaching the high of 26399. Key support levels are at 25450/25420, and there is a buying opportunity around 25280/230. Emini Dow Jones hit a daily low at the support level of 47800/750, then reached its target at 48100/150. The index might revisit its all-time high of 48528. It also has minor support at 47800/750, but the index would need to stay above 47650 for stability.

Canadian Labour Force Update

Statistics Canada will soon release its Labour Force Survey, with the Unemployment Rate expected to rise to 7% in November. Employment Change is predicted to stay flat after a previous increase. The Pi Network has declined for the third consecutive day, nearing a support trendline due to increased supply pressure from Centralized Exchanges. The Moving Average Convergence Divergence (MACD) indicator suggests that further dips may happen. Gold prices are holding steady but remain below $4,250 in European trading. Traders are cautious, waiting for the September PCE Price Index data, the Federal Reserve’s preferred measure of inflation. With market momentum continuing, we should view any dips as buying opportunities for US indices. The November jobs report released this morning was stronger than expected, supporting this positive trend. Traders can use the Emini Nasdaq support at 25450/25420 to start new call option positions, aiming for the all-time high at 26399.

Federal Reserve December Meeting

The Dow’s bounce from the 47800/750 support level last week confirmed our strategy, with the index now targeting its all-time high. We should continue to use this level for new entries, but with the Federal Reserve’s December meeting coming up, it’s smart to protect long positions with trailing stops. The market’s strength indicates new highs are likely before the year ends. As expected, today’s labour report from Canada showed the unemployment rate increased to 7.0%. This signals a slowdown in their economy, putting pressure on the Bank of Canada before its rate decision next week. We view this as a clear signal to consider buying put options on the Canadian dollar, as a more dovish central bank policy seems likely. While traders were initially focused on the September PCE data, attention has shifted to more recent inflation reports, which have remained stubbornly high. This is keeping gold prices consolidated just below the critical $4,250 resistance level. The tight range ahead of the next inflation release makes a straddle strategy attractive to trade the expected volatility. Bearish signals for the Pi Network are increasing as it tests a key support trendline for the third day in a row. On-chain data this week indicates a surge in coin inflows to centralized exchanges, which often precedes a significant price drop. A decisive break below this support would prompt us to buy put options, as technical signs suggest further weakness. Create your live VT Markets account and start trading now.

here to set up a live account on VT Markets now