The JPY is the strongest and the NZD is the weakest. Jump in for the fresh analysis!
EUR/USD: primary trend remains bearish
The primary trend remains bearish. However, the price is still consolidating in a range of the developing 'Triangle'. The main intraday target is the next support at 1.1601 - 1.1590, which could be a starting point for an upward correction.
The last 'Pennant' pushed the price lower. At the same time, it's likely to have an upward correction during the day. So, if a pullback from the nearest resistance at 1.1637 happens next, there'll be a moment to have another decline.
Asian equity markets were subdued, and US equity futures traded choppy after last Friday’s losses on Wall Street.
The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.