Today’s Market Update (08/07/2020)

The flight to safety theme gripping financial markets globally, in the face of rising coronavirus cases and regional lockdowns. Gold trading at its highest levels since November 2011. US coronavirus cases rise to over 3 million.

EURUSD

CMP: 1.1277

Composite Strength Meter: 70% Buying

Trend Recommendation: Strong Buy

Entry Zone: 1.1280, 1.1250

Profit Booking Zone: 1.1330, 1.1350

Trend Changing Zone: 4H closing below 1.1100

AUDUSD

CMP: 0.6940

Composite Strength Meter: 77% Buying

Trend Recommendation: Strong Buy

Entry Zone: 0.6940, 0.6920, 0.6880

Profit Booking Zone: 0.7000, 0.7020

Trend Changing Zone: 4H closing below 0.6790

NZDUSD

CMP: 0.6541

Composite Strength Meter: 84% Buying

Trend Recommendation: Strong Buy

Entry Zone: 0.6530, 0.6510, 0.6480

Profit Booking Zone: 0.6590, 0.6610

Trend Changing Zone: 4H closing below 0.6370

WTI Crude Oil

CMP: 40.53

Composite Strength Meter: 63% Selling

Trend Recommendation: Mild Selling

Entry Zone: 41

Profit Booking Zone: 39.70, 38.60

Trend Changing Zone: Day Closing above 41.15

USDJPY

CMP: 107.60

Composite Strength Meter: 61% Selling

Trend Recommendation: Mild Selling

Entry Zone: 107.60, 107.70

Profit Booking Zone: 107, 106.85, 106.70

Trend Changing Zone: 4H Closing above 108.20

USDCHF

CMP: 0.9426

Composite Strength Meter: 76% Selling

Trend Recommendation: Strong Sell

Entry Zone: 0.9440, 0.9460, 0.9480

Profit Booking Zone: 0.9390, 0.9350, 0.9320

Trend Changing Zone: 4H Closing above 0.9550

XAUUSD

CMP: 1795

Composite Strength Meter: 65% Buying

Trend Recommendation: Mild Buying

Entry Zone: 1786, 1780, 1767

Profit Booking Zone: 1791, 1797, 1808

Trend Changing Zone: 1H closing below 1760

US30 Dow Jones

CMP: 25800

Composite Strength Meter: 63% Selling

Trend Recommendation: Mild Selling

Entry Zone: 26020, 26110, 26220

Profit Booking Zone: 25720, 25620, 25520

Trend Changing Zone: 4h Closing above 27120