Euro dropped after touching 1.20

Euro dropped after touching 1.20

2020-09-02 • Updated

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Ichimoku Kinko Hyo

USD/JPY: The USD/JPY pair is now trading slightly below the Tenkan Sen. Any decisive movement to the north will push prices to exceed the Tenkan Sen level, confirming the bullish sentiment.

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European Market View

  • The Euro briefly rose above 1.20 against the greenback for the first time in more than two years. This is a rally of about 12% since March when coronavirus news weight in the market.
  • Australia fell into its first recession in nearly 30 years as the nation battles a resurgence of Covid-19. Gross domestic product plunged 7% from the first three months of the year, the largest fall since records dating back to 1959.
  • Turkey warned Greece against exceeding limits on military forces allowed on a tiny island that's become a flashpoint in their competing claims to energy resources in the Mediterranean Sea.

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