Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
All eyes on ECB as risk off remains strong
2020-10-29 • Updated
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
Fibonacci Levels
XAG/USD: silver moves below the 23.6% retracement level at $23.35. Silver bulls will struggle to gain further as a risk-averse mood still exists.
EU Market View
Asian equity markets traded mostly lower following the bloodbath on Wall Street where all major indices declined by more than 3%. The BoJ maintained policy settings as expected and continued to signal a lack of urgency for immediate support.
Looking ahead, highlights from the macroeconomic calendar include Eurozone Consumer Confidence, Economic Sentiment, US GDP (Advanced), Initial/Continued Jobless Claims, German CPI (Prelim). Japanese Unemployment, ECB and BoJ Rate Decisions, ECB’s Lagarde press conference.
EU Key Point
- China's major state-owned banks said to be buying dollars to limit the yuan appreciation
- BOJ's Kuroda supports that he is ready to ease monetary policy without hesitation if needed
- Germany posts record 16 774 new coronavirus cases ahead of November 'lockdown light'
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Bearish Scenario: Sell below 39600... Anticipated Bullish Scenario: Intraday buys above 39750... Bullish Scenario after Retracement: Intraday buys above 39150
Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...