US Dollar Trades Below 93 Mark Despite Steep Equities Selloff
US dollar continues to trade below 93 levels despite the massive stock price selloff on concerns stemming from record growth in daily virus infections. US and European stock markets lodged the largest daily decline in the past few months on Monday and extended that downtrend in Tuesday trading.
US Dollar Trades in a Tight Range, Gold, and Riskier Assets Fall
US dollar continues to trade around the 93.40 level against the basket of six major currencies amid the uncertainty regarding the stimulus package and concerns over the second coronavirus wave. The USD index has been trading in a tight range of 92.90 to 93.60 levels over the past few days.
US Dollar Dips on Equities Rally, Trump Tweet in Focus
US dollar fell slightly from Tuesday high as investors focus moved towards risker currencies and assets after Donald Trump announced that new aid is coming for the airline industry. Wall Street posted big gains on Wednesday and extended the upside into Thursday trading.
EUR/USD Superior Reward to Risk Ratio Target 1.19000
EUR/USD Superior Reward to Risk Ratio Target 1.19000 Historical resistance could now be current support at 1.18280 zone, where we must hawk any type of bullish candle reversal or price behaviour for upside entry. EUR/USD also has a 50% Fibonacci cluster at this zone providing further confirmation for support.…
EUR/AUD Compressing for Upside Targeting 1.63980
Trend line set back in August through September intact and respected. EUR/AUD Setting up with defined risk parameters and attractive reward to risk ratio. Indicator and signals clustering = points EUR/AUD to upside before any major falls. Key Points: Price holding above the 200 EMA Price holding above the 50…
Crude Oil Slips , DXY Gains, Gold Under Pressure – Ahead of European Trading Session
Asian markets open with continued weakness for a second consecutive session. Oil falls more than 1% on Saudi price cuts , but China imports remain strong. Chinese and US equity bourses in the red along with Japan's Nikkei index.
EURJPY Short Term Distributions Before breaking 2019 Highs
EURJPY bouncing off 126.750 highs of 2019. Intraday distribution to target the next key short-term levels before possible expansion. Key Points: Price well above the 200 EMA but looming to revert to the average. Price holding below 23.6 % Fibonacci from prior range (28th Aug Low to 31st Aug High)…
EUR/USD Continues to Consolidate Before Bernanke’s Speech
EUR/USD has been trapped in a roughly 100pips trading range for about a week. The forex market participants are cautious ahead of a gathering of central bankers and economists in Jackson Hole. Without doubt the Fed’s annual symposium, which starts today, will be the next big market catalyst. Investors are…
Investors Eye German IFO Sentiment Survey
Last week’s gains were largely driven on speculations that the European Central Bank was moving closer to responding with a solid plan to arrest the spread of the regional debt crisis and to support growth. EUR/USD had a bearish Friday but still managed to close above the 1.25 handle. Investors…