Today’s Market Update (21/07/2020)
Some key takeaways during last few hours
·
Singapore central bank wants tighter control
over cryptocurrency
·
EU reaches a deal on Recovery Fund
·
RBA's Lowe says the AUD is broadly in line
with fundamentals
·
RBA Gov Lowe - welcomes government income
support extension plan
·
Australia coronavirus lock down in Melbourne -
consumer spending evaporating
·
RBA July meeting minutes - Easy policy to stay
as long as needed
·
South Korea first 20 days of July exports down
12.8% y/y
·
Australia says mining, energy sectors
underpinning the domestic economy due to demand from China
·
Japan data for June, headline CPI 0.1% y/y
(expected 0.1%)
·
Australia weekly consumer confidence: 90.7
(prior 91.6)
Today’s Economic calendar
Forex Majors
EURUSD CMP: 1.1445
Composite Strength Meter
suggests 91% Buy
Trend : Strong Buy
Entry Points: 1.1436, 1.1405,
1.1370
Profit Booking Points: 1.1470,
1.1500
Trend Changing Zone: 4H
closing below 1.1200
AUDUSD CMP: 0.7022
Composite Strength Meter
suggests 93% Buy
Trend : Strong Buy
Entry Points: 0.6980, 0.6950
Profit Booking Points: 0.7040,
0.7060
Trend Changing Zone: 4H
closing below 0.6827
NZDUSD CMP: 0.6570
Composite
Strength Meter suggests 86% Buy
Trend : Strong
Buying
Entry Points:
0.6545, 0.6525
Profit Booking
Points: 0.6570, 0.6590
Trend Changing
Zone : 4H closing below 0.6400
USDJPY CMP: 107.22
Composite Strength Meter
suggests 76% sell
Trend: Strong Sell
Entry Points: 107.50, 107.70
Profit Booking Points 107.00,
106.75, 106.50
Trend Changing Zone: 4H
closing above 108.20
USDCHF CMP: 0.9387
Composite Strength Meter suggests
89% Sell
Trend: Strong Sell
Entry Points: 0.9410, 0.9430
Profit Booking Points: 0.9355,
0.9320
Trend Changing Zone: 4H
closing above 0.9525
GBPUSD CMP: 1.2665
Composite Strength Meter suggests
71% Buy
Trend Strong Buy
Entry Points: 1.2610,
1.2560
Profit Booking
Points: 1.2700, 1.2750
Trend Changing
Zone : 4H closing below 1.2400
XAUUSD CMP: 1819
Composite Strength Meter
suggests 71% Buy
Trend Strong Buy
Entry Points: 1807,
1800
Profit Booking
Points: 1828, 1837
Trend Changing
Zone : 4H closing below 1780
WTIUSD CMP: 40.90
Composite Strength Meter
suggests 52% sell
Trend: Neutral
Avoid
Trading
EURGBP CMP: 0.9035
Composite Strength Meter
suggests 72% Buy
Trend: Strong Buy
Entry Points: 0.9000,
0.8965
Profit Booking
Points: 0.9110, 0.9170
Trend Changing
Zone : 4H closing below 0.8950
EURJPY CMP: 122.71
Composite Strength Meter
suggests 91% Buy
Trend Strong Buy
Entry Points: 122.25,
121.75
Profit Booking
Points: 123.123.40
Trend Changing
Zone : 4H closing below 120.80
GBPJPY CMP:135.80
Composite Strength Meter
suggests 63% Buy
Trend
Neutral
Avoid
Trading
US30 CMP: 26638
Composite Strength
Meter suggests 59% Sell
Trend Neutral
Avoid Trading
Reference:
Trend changing point candle low should be kept as stop
loss for buy trend
Trend changing point candle high should be kept as
stop loss for sell trend
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