Gold exceeded $2.000 per ounce. Stock futures rose on Wednesday as investors awaited further updates on stimulus talks.
EUR/JPY: 123.70 awaits
2020-07-29 • Updated
EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern. A return above the 50-period MA will allow the price to recover to 123.50 and 123.70 (resistance line going through the recent highs). Sell trades will become reasoned only below 123.00 (targeting 122.50).
Trade idea for EUR/JPY
BUY 123.30; TP 123.70; SL 123.15
US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.
The pair was falling down amid the waning US dollar. However, the situation changed this month.
Dollar continues to keep firmer on the day, all eyes on the US jobs report later.