August 21: risk-on is back
The market sentiment has switched to risk-on today as US-China relationships are getting better. The US dollar is dipping down, while riskier assets are rising.
Tag - eur
Coronavirus cases surge in Europe
USD/JPY is moving sideways between the pivot point at 105.708 and the resistance level at 106.26
The United States jobless claims will be released
USD/CHF is now testing the key resistance at 0.91519
August 20: consolidation
The consolidation that started on Wednesday is continuing so most currency pairs with the USD are going flat.
European markets slightly higher after the record highs of S&P500
The advance of S&P500 came as shares of big tech stocks rallied and reflected the trend of the past months of this year in equity markets.
EUR/USD stabilized below 1.1950
The most traded pair takes a breath after reaching levels unseen since May of 2018.
S&P500 hit an all-time high in the previous session
USD/JPY: The pair is now trading within the cloud. Any decisive movement to the south will lead USD/JPY to exit the Kumo, confirming the bearish scenario.
August 19: the USD stalls
Most currency pairs with the USD are in consolidation currently as the USD has stalled its depreciation spree.
S&P500 in flirt with a new all-time high
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.
OPEC is set for a virtual meeting tomorrow
GBP/JPY: the pair is now trading slightly above the Kijun Sen. A failed attempt to move higher will lead GBP/JPY below the Kijun Sen.
August 18: weak USD
The USD is weak against most riskier assets today; gold is at $2,000, WTI oil at $42.5. Watch the video for more levels.
Weekly Market Outlook: August 17 - August 21
In this video we will discuss what will drive the market this week. We will discuss main economic releases and analyze USD/JPY, AUD/USD, EUR/USD and oil. Jump in!
