British Pound Gains Momentum
European shares slipped on Tuesday as investors awaited the first U.S. presidential debate and eyed progress of a fiscal stimulus package in Washington
Traders Focusing on NFP
2020-08-07 • Updated
Ichimoku Kinko Hyo
EUR/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.
Fibonacci Levels
XAU/USD: Gold makes another full retracement. It seems that each pullback for gold is a buying opportunity.
European Market View
Asian equity markets failed to sustain the positive tone from Wall Street where all major indices notched gains as technology sector outperformed for another day. Looking ahead, highlights from macroeconomic calendar include German Trade Balance, US and Canadian Labour Market Reports and Fed's Rosengren speech.
European Key Point
- Germany June industrial production comes at +8.9% vs +8.2% m/m than expected.
- Trump signs executive order to address threat of WeChat.
- Germany reports 1,147 new coronavirus cases in latest update today.
Elizabeth Belugina
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EUR/USD has violated the pivot point and stands next to the resistance area 1.1680
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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.
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All eyes focusing on today’s Trump - Biden debate
EUR/USD has violated the first resistance trendline area 1.1680
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