EURUSD 1.0878 |
USDJPY 108.70 |
GBPUSD 1.2327 |
AUDUSD 0.6141 |
USDCAD 1.4024 |
GBPJPY 134.00 |
EURJPY 118.24 |
AUDJPY 66.75 |
CADJPY 77.49 |
Silver 14.91 |
The current routine in the markets is to trade around various coronavirus statistics, but there's an underlying flaw in that thinking. (More below). AUD was the top performer on Tuesday, while USD lagged. Ashraf posted the weekly Premium Video, highlighting why the 1929 analog for indices may no longer be working as a comparable model analog for indices. Is it 1987, 2008, or which is it? There's also a focus on FX and last night's trade.
1. GBP/USD struggles to hold onto recovery profits beyond the 1.3000 mark.
2. December 23 low stays on the bears’ radar whereas December 31 pinnacle will assignment the customers throughout upside.
GBP/USD trades close to 1.3000 by the clicking time of Tuesday’s Asian session. In doing so, the pair stays inside the month-to-month falling fashion channel at the same time as also remaining below 200-bar SMA.
With this, sellers preserve eyes on December 23 low, close to 1.2900, as close to-time period key support throughout further declines.
In a case in which GBP/USD expenses stay weak underneath 1.2900, November 22 bottom around 1.2820 ought to go back to the chart.
On the upside, 61.8% Fibonacci retracement of the pair’s rise from November 22 to December 12, at 1.3086, can offer immediate resistance in advance of the stated channel’s top line and 200-bar SMA confluence near 1.3100/05.
If buyers manage to go 1.3105, 50% Fibonacci retracement level close to 1.3170 can offer intermediate halt previous to fuelling the pair in the direction of the excessive marked at the stop of 2019, at 1.3285.
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1. GBP/USD struggles to hold onto recovery profits beyond the 1.3000 mark.
2. December 23 low stays on the bears’ radar whereas December 31 pinnacle will assignment the customers throughout upside.
GBP/USD trades close to 1.3000 by the clicking time of Tuesday’s Asian session. In doing so, the pair stays inside the month-to-month falling fashion channel at the same time as also remaining below 200-bar SMA.
With this, sellers preserve eyes on December 23 low, close to 1.2900, as close to-time period key support throughout further declines.
In a case in which GBP/USD expenses stay weak underneath 1.2900, November 22 bottom around 1.2820 ought to go back to the chart.
On the upside, 61.8% Fibonacci retracement of the pair’s rise from November 22 to December 12, at 1.3086, can offer immediate resistance in advance of the stated channel’s top line and 200-bar SMA confluence near 1.3100/05.
If buyers manage to go 1.3105, 50% Fibonacci retracement level close to 1.3170 can offer intermediate halt previous to fuelling the pair in the direction of the excessive marked at the stop of 2019, at 1.3285.
Forex Signals
If you’re thinking about becoming a Forex trader then you’ll probably be looking for an accurate Forex signals provider.
Hot Forex Signalshttp://www.hotforexsignal.com/) is the best accurate Forex signals service provider.
Ashraf
As just one example today the US stocks are up huge, and the Pound down. This strong correlation that was develping with the Pound and US stocks for awhile has had to deal with various UK domestic headlines that can pull it in all kinds of directions.
Where do you think the bears return?