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Trading plan for EURUSD, GBPUSD, USDJPY for 07/08/2020

#USD/JPY# EURUSD* The technical cross-section**: Trend: 1 A strength of trend: 2 Overbought/oversold: none The priority area of transactions: buying Buying in the area of 1,1800 with a stop below 1,1770 and a profit in the area of 1,1900. Buying in the area of 1,1730 with a stop

Making some sense of the GBP

The last month has been tricky trading the GBP There is no doubt about it, the GBP has been a tricky currency to trade over the last few weeks. The GBP has been moving higher and higher with seemingly little reason during July. With the Bank of England meeting yesterday the main message seems to be

Focus today will be on RBI monetary policy

Yuan got spooked in early Asian trade as President Trump signed an executive order to bar US residents from doing business with TikTok, WeChat or Apps owners (Bytedance and Tencent) for 45 days. The move has dampened risk sentiment. Asian stocks are lower and Asian currencies weak. The US Dollar has

Forex Today: Dollar keeps weakening ahead of NFP

Here is what you need to know on Friday, August 7:The dollar remained under pressure, with high-yielding currencies extending their weekly advances to fresh highs. There was no particular reason behind the decline, but the lack of progress related to an aid package.US President Trump tweeted: “

USDJPY 4H: Potential Trend Reversal (Update)

#USD/JPY# Thank you for reading my idea, please consider following my profile for many benefits, such as: -Consistent chart updates -Clean charts -Short and long-term perspectives -Visually teaches you valuable lessons -High probability setups -Analysis on a wide range of major marke

AUD/USD moves back closer to Wednesday YTD tops, around 0.7220 level

AUD/USD moves back into the positive territory for the third consecutive session on Thursday. The USD remained depressed amid growth concerns, fiscal impasse, declining US bond yields. The upbeat market mood further benefitted the perceive riskier aussie and remained supportive. The AUD/USD pair bo

USD/JPY remains depressed near mid-105.00s, just above weekly lows

USD/JPY traded with a mild negative bias for the third consecutive session on Thursday. Bears took cues from declining US bond yields, which capped a modest USD rebound. Thursday’s better-than-expected US jobless claims did little to provide any impetus. The USD/JPY pair edged lower during the earl

Forex Today: Gold up, dollar down amid stalled fiscal talks, vaccine hopes, ahead of jobless claims

Here is what you need to know on Thursday, August 6: The US dollar remains on the back foot while gold shines, following experienced on Thursday, partially in response to hints of weak Non-Farm Payrolls. US jobless are eyed on Thursday. Hopes of a coronavirus vaccine boost markets while ongoing fisc

RBA says it bought A$500 million of 3-year government bonds in operations today

This was already preluded by the RBA statement yesterday The RBA is stepping in to buy 3-year bonds as part of its yield curve control efforts, as mentioned already yesterday here. This just reaffirms their commitment that they would want to keep such accommodative policy for an extended period of t

USDCHF trades to the lowest level since January 2015

Price takes out the low from last week at 0.90557 The price of the USDCHF is trading to a new session low, new year low (taking out the low from last week at 0.90557) and trades to the lowest level since the week of January 25, 2015. Recall that last week the low took out the swing lows from May 201

AUD/USD rallies to the highest level since Feb. 2019, around 0.7235 region

AUD/USD gains strong traction for the second straight day amid sustained selling around the USD. The USD remained depressed following the release of ADP report and ISM Non-Manufacturing PMI. Overbought conditions on hourly charts warrant caution before placing fresh intraday bullish bets. The AUD/U

FX option expiries for Tuesday August 04 at the 10am NY cut

EUR/USD  1.1650 1.8bn euro amount  1.1725 769m  1.1750 827m  USD/JPY  105.75 401m USD  106.00 521m  106.07 444m  USD/CAD  1.3330 1.4bn USD  1.3450 738m Reprinted from forexlive, the copyright all reserved by the original author.

BoE Preview: Pressure on the Bank to act will increase in the autumn – Rabobank

The Monetary Policy Committee of the Bank of England (BoE) will announce its decision on Thursday. No change in rates is expected. Analysts from Rabobank believe that the balance sheet remains BoE’s policy instrument of choice, and they expect that the pressure to act will increase in the autumn.  K

Pull-up Update