ER/JPY: The EUR/JPY pair is now testing the upper level of the cloud. A successful attempt to exit the Kumo will signal a new bullish sentiment.
Tag - chf - swiss franc
European stock markets traded lower Friday, with travel stocks weighing after Britain added more countries to its quarantine list while Chinese data suggested a slow economic recovery.
Asian equity markets traded with a lacklustre tone following on from a weak lead from US where the major indices faltered in late trade.
Asian stock markets rose this morning on relief that another round of Sino-US sparring appears not to have spilled over into trade, while hopes for US stimulus support oil and other commodity currencies.
China arrested Jimmy Lai, one of Hong Kong’s richest and best-known publishers, on suspicion of collusion with foreign agents.
US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.
Asian equity markets traded mixed amid a lack of fresh catalysts and with the region failing to take advantage of the mild tailwinds from Wall Street.
The risk of a second wave of coronavirus is more likely to put pressure on rates. Risky assets are supported by fiscal and monetary stimulus.
How to trade on July 21?
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GBP/CHF formed a "bullish engulfing" candlestick on the W1. On smaller timeframes, we see a higher low that makes the price action resemble an “Inverse Head and Shoulders” pattern.
USD/CHF has made an impressive movement to the downside. The pair has closed on Wednesday below the 61.8% Fibonacci retracement in the 0.9455 area.