USD/JPY stays below the monthly support-turned-resistance horizontal line.
Weak RSI conditions question the bears waiting for entry below 50% Fibonacci retracement.
A three-week-old falling trend line adds to the upside barrier.
Having failed to cross the monthly support-turned-resistance, USD/JPY
The China stock market has moved lower in two straight sessions, sinking more than 35 points or 1.2 percent along the way. The Shanghai Composite Index now rests just beneath the 2,810-point plateau although it may stop the bleeding on Monday.
The global forecast for the Asian markets is positive on
Oil prices found a short term bottom yesterday even when storage constraints remain an issue. In absence of other telling stories, it proved sufficient to create a more positive risk environment. European equities gained around 1.5% with the Euro Stoxx 50 bouncing off short term support at 2792. Mai
- Introduction to Amplify Trading (00:00).
- Update on WTI crude futures as USD takes action to calm the storm.
- EU eyes EUR 2trl plan as ECB looks to accept junk.
- Summary of economic data and earnings to watch out for.
In the Daily Mail, the BoE’s Bailey was reported saying that the UK should be cautious of lifting COVID-19 lockdown too early. The governor of the Bank of England today issues a stark warning that Britain should be cautious about lifting the coronavirus lockdown too early.
In his first interview si
Neither fiscal nor monetary stimulus is able to provide sustainable support to market so far. Stock markets are back under pressure today despite the massive USD 1T stimulus proposal by the US. Additionally, sentiments are pressured by the sudden spike in Italian treasury yields, and break of a key
WTI extends pullback from the multi-year low.
100-HMA, 61.8% of Fibonacci retracement can offer intermediate halts to revisit the previous week’s closing.
An ascending trend line since Monday limits immediate downside.
While following a short-term rising trend line from Monday, WTI takes the bids t
EUR/USD declined heavily below the 1.0900 and 1.0850 support levels.
A major bearish trend line is forming with resistance near 1.0865 on the 4-hours chart.
EUR/USD Technical Analysis
Looking at the 4-hours chart, the pair failed to stay above the key 1.0900 support area and settled
GBP/USD remained depressed amid BoE rate cut speculations, Brexit fears.
The post-FOMC modest USD pullback helped bounce of sub-1.3000 levels.
Thursday's key focus will remain on the highly-anticipated BoC decision.
The GBP/USD pair remained depressed through the major part of Wednesday's trading a
The China stock market picked up less than two points on Friday - but that was enough to halt the three-day slide in which it had retreated more than 40 points or 1.3 percent. The Shanghai Composite Index now rests just above the 3,075-point plateau and it may tick higher again on Monday.
Elliot Clarke, analyst at Westpac, suggests that China’s Q4 GDP highlights how challenging 2019 was for the economy but growth is now stabilising, and opportunities await.
“In the December quarter, annual growth again printed at 6.0%yr, leaving 2019 growth at 6.1%. That is near the bottom
Treasuries moved to the downside during trading on Monday, giving back ground after moving higher over the two previous sessions.
Bond prices came under pressure early in the session and remained stuck in the red throughout the day. As a result, the yield on the benchmark ten-year note, which moves
The US-China trade deal was once again back in focus, pushing equities to resume the rally. The gains come after China said that its vice premier will be traveling to the US to sign the phase one of the trade deal.
The announcement indicates that the final issues have been resolved, paving the way f
Responding to the Chinese Commerce Ministry’s statement confirming the invite from the US side for the US-China trade deal signing, the Editor-in-chief of Chinese and English editions of the Global Times, Hu Xijin, tweeted out: “China and the US will sign phase one trade deal. This deal can be seen