Markets catch a breather as US elections and Rate Decisions are now in the rearview

$E-mini S&P 500 Futures(MAR5) (ESmain.US)$ (4 Hour Chart) -[BULLISH↗ **]We continue to stay bullish as we expect price to hold above 5920 support level. We expect price to continue pushing towards 6035 resistance level. Technical indicators are leaning towards a bullish scenario as well.

$USD (USDindex.FX)$ (4 Hour Chart) -[BULLISH↗ *]We continue to stay bullish as we expect price to push towards 106.105 resistance level as long as price holds above 103.695 support level. A 4 hour candlestick closing above 106.105 resistance level can open the next push towards 107.056 resistance level. Technical indicators are leaning towards a bullish scenario as well.

$Gold Futures(FEB5) (GCmain.US)$ (4 Hour Chart) -[BEARISH ↘ *]We continue to stay bearish as price is holding below 2730 resistance level. We expect price to drift towards 2660 support level. Technical indicators are mixed for now.

$Nikkei 225 (.N225.JP)$ (4 Hour Chart) -[BULLISH↗ *]We continue to maintain our bullish directional bias as price is holding above ascending trendline support. As long as price holds above 38830 support level, we expect price to push towards 40320 resistance level. Technical indicators are advocating for a bullish scenario as well.Alternatively: A 4 hour candlestick closing below 38830 support level would drop towards next support level at 38000.

$HSI Futures(JAN5) (HSImain.HK)$ (4 Hour Chart) -[BULLISH↗ **]We turn bullish as price has drifted towards the 21185 resistance level. We expect price to take a pause at 21000 support level before pushing higher towards 21550 resistance level. Technical indicators are displaying a bullish scenario.

$FTSE Singapore Straits Time Index (.STI.SG)$ (4 Hour Chart) -[BULLISH↗ ***]STI has continued to push above 3700 resistance-turn-support level. We continue to stay bullish as we expect price to push towards 3775 resistance level. Technical indicators are displaying a bullish scenario as well.

US markets closed higher last night, with $E-mini S&P 500 Futures(MAR5) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(MAR5) (NQmain.US)$ climbing higher by 0.76% and 1.58% respectively. Last night, as expected, the Fed lowered its policy rates by quarter basis points. The gains came from continued risk-on sentiment among traders after Trump's decisive victory on Tuesday. The tech sector saw the most strength, with notable stocks such as $Intel (INTC.US)$ pushing higher by 4.71%. However, traders should be careful ahead of the possible power battle between Fed's Chair Powell and the newly elected President Trump. Traders can look towards michigan consumer sentiment and inflation expectations data tonight as the week ends.

Asian markets open higher today, mirroring the US indices. $Nikkei 225 (.N225.JP)$ drifted higher by 0.61%, after the US Fed rate cut decision last night. The tech and communications sector saw the biggest advancement. $HSI Futures(JAN5) (HSImain.HK)$ edged higher by 0.50% as traders look towards details of fiscal stimulus of the NPC meeting that will conclude today. Among other stocks, $GEELY AUTO (00175.HK)$ made notable gains of 7.25%.Traders should look out for CPI and PPI data released tomorrow. $FTSE Singapore Straits Time Index (.STI.SG)$ climbed higher by 1.40% today morning, with the finance and REITs sector advancing the most. $DBS (D05.SG)$ hit a new high yesterday after announcing its multibillion dollar share-buyback programme and outperforming quarter reports. $UOB (U11.SG)$ push the most today by 5.26% after CEO stating it will consider share buyback plan.

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