Main market news and trade ideas on July 20

Main market news and trade ideas on July 20

The market sentiment is mixed as investors are weighing on additional government support measures amid increasing virus cases throughout the world.

Fundamental factors

  • The Japanese trade balance came out much worse than analysts expected. It contracted by 420 billion yens, while the forecast was for 330 billion yens. USD/JPY sharply surged after the report.
  • The German Producer Price Index didn’t change at all since the last month, while the forecast was for the 0.2% growth.
  • EU members continue negotiating to reach an agreement on a coronavirus recovery package. There are some disputes on dividing the 750-billion-euro aid package into grants and low-interest loans. The Euro gained a lot on that news.
  • Brexit talks have been left aside for a while as the EU summit is in the main focus of attention. The British pound is losing against the Euro.
Watch our daily forex trading plan!

Technical factors

EUR/USD

EUR/USD has reached the level unseen since January 6, 2019. It continues rising amid ongoing EU summit negotiations. It may meet the strong resistance at the key psychological mark at 1.15. If it breaks it through, it may surge to new highs. On the flip slide, if the pair falls down to the low of July 17 at 1.1428, it will open doors towards the next support at 1.1385.

EURUSDH4.png

USD/JPY

USD/JPY ramped up after the worse-than-expected data from Japan. Then it met the resistance at the 107.4 level, which it has touched several times already. Now it’s moving down towards the intersection of 50- and 200-period moving averages at 107.16. The move below will push the price lower to 107.05.

USDJPYH1.png

EUR/GBP

EUR/GBP is edging up as Brexit talks remain in the shadow of EU summit negotiations. The pair has just bounced from the 61.8% Fibonacci retracement level and jumped above the 78.6% Fibo level at 0.9125. If it crosses the resistance at 0.914, it may surge further to the high of June 29 at 0.916. Support levels are 0.9125 and 0.9084.

EURGBPH4.png

Gold

XAU/USD has been trading in a range between $1 815 and $1 794 for over two weeks. It has just crossed the resistance at $1 810. Now it’s moving towards the next one at $1 815. It may struggle to cross it again and fall down to support levels at$1 810 and $1 805.

 XAUUSDH4.png

Upcoming events:

  • The EU current account will be published at 11:00 MT time.
  • The Chief economist of the Bank of England will make a statement at 18:10 MT time.

Check the economic calendar

LOG IN

Similar

Gold Rises as Central Banks Buy More
Gold Rises as Central Banks Buy More

About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.

US Evades Default This Time
US Evades Default This Time

Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!

USD Gains Momentum
USD Gains Momentum

The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!

Latest news

No More US Debts in Sight
No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera