European shares slipped on Tuesday as investors awaited the first U.S. presidential debate and eyed progress of a fiscal stimulus package in Washington
Gold & Silver Continue to Fly
2020-08-06 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
XAU/USD: Gold is making only new highs. It seems that gold prices remain in a bullish momentum.
US Market View
US stocks are set to weaken at the open today, consolidating after gains in the previous session, with investors wary amid few signs of progress over the next virus relief bill and ahead of the latest employment data. The focus remains on the shape and size of the next U.S. fiscal recovery package while stocks are really struggling to find direction until we know the exact outcome of those negotiations.
US Key Point
- Stocks nudge lower ahead of North American trading.
- Gold is trading at all-time highs.
- German health minister warns general lockdown could be imposed again if virus numbers rise.
EUR/USD has violated the pivot point and stands next to the resistance area 1.1680
So the pound went all-in bullish yesterday on Brexit hopes. While these hopes still have to manifest, the GBP will have to defend its positions now.
USD/JPY has been rising for almost a week except for Monday, but the strong resistance of the 50-day moving average at 105.80 may stop it from moving higher.
BoA released the report with the bullish forecast for the S&P 500 and shared its technical analysis. Let's discuss it in detail.
EUR/USD has violated the first resistance trendline area 1.1680