EUR/USD : remains resilient despite risk averse momentum

EUR/USD : remains resilient despite risk averse momentum

2020-12-22 • Updated

543542442.png

4543234.png

2020_12_22_09_35_18_Template1_PowerPoint.png

USDJPYM30 (11).png

Ichimoku Kinko Hyo

AUD/JPY: The pair is trading below the cloud. Downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

AUDJPYM30 (6).png

Fibonacci Levels

 XAU/USD: Gold is struggling to move higher from the key retracement area of 23.6%.

XAUUSDH4 (7).png

EU Market View

Asia-Pac equities traded lower following a mixed lead from Wall Street; ASX 200 underperformed. Asian shares widened losses on Tuesday, extending a pullback from multi-year highs hit last week on fears a highly infectious new strain of COVID-19 that hit Britain could lead to a slower global economic recovery. Looking ahead, highlights from the macroeconomic calendar include German GfK Consumer Confidence, US GDP (Final) and Existing Home Sales. Illiquid conditions will persist through year-end, but dips like this could present more of an opportunity to fade than anything else. Countries across the globe shut their borders to Britain on Monday due to fears about a new strain of coronavirus, said to be up to 70% more transmissible than the original, causing travel chaos and raising the prospect of food shortages days before Britain is set to leave the European Union.

The discovery of the new strain, just months before vaccines are expected to be widely available, renewed fears about the virus, which killed about 1.7 million people worldwide. As a result, European shares fell on Monday in their worst session in almost two months.

EU Key Point

  • Germany January GfK consumer confidence -7.3 vs -7.6 expected
  • Dollar holds firmer ahead of European trading
  • Japan maintains its assessment of the economy for the month of December
  • Germany reports 19,528 new coronavirus cases in the latest update today
  • Japan is considering strengthening its border control rules for the UK

LOG IN

Similar

How will the reporting season affect US indices?
How will the reporting season affect US indices?

Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.

Stocks to trade in July
Stocks to trade in July

When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

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 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

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.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera