The formation of the descending triangle pattern indicates further falling of USD/JPY!
Tag - technical analysis
EURCHF is a rare cross pair that is nonetheless very interesting both from the technical and fundamental point of view. Let’s throw a strategic look at it to see what we may expect in the nearest future.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
Looking ahead, highlights from macroeconomic calendar include Eurozone CPI US Retail Sales and University of Michigan, European Council Summit and Fed’s Williams speech.
The number of Americans applying for initial unemployment benefits unexpectedly increased to 898,000 last week, its highest since late August, compounding fears that the recovery in the labor market is stalling
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USD/CNH has been steadily dipping, but downbeat China’s PPI and CPI limit the further falling.
Treasury Secretary Mnuchin, after speaking with House Speaker Pelosi, said stimulus talks are still far apart and it is difficult to get anything done before the election but will keep trying.
"Hi, Speed!" took place this week. Did the stock price surge? No. The opposite. But it will, eventually.
The gold price is resting at $1 900 - how should we trade it?
US futures fell early in pre-US market open trading as investors' hopes that earnings season would provide some upward impetus waned.
There are higher lows and untouched resistance with this currency pair since the previous week - what does it suggest?