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Today’s Market Update (15/07/2020)


Some key takeaways during last few hours

·        White House eco adviser Kudlow says the trade deal with China is 'still engaged'
·        BOJ as expected, no change to monetary policy
·        Vaccine report ramps up risk trade
·        China is to set sanctions on the US over Hong Kong
·        China unconcerned on Trump's revoking Hong Kong's special status
·        Trump says he has no plans to speak to China's President Xi - Trump says more              action to come against China
·        Coronavirus - NZ PM Ardern warns of potential for further NZ lock downs
·        Trump has signed the China sanctions bill
·        US coronavirus - Texas hits another record high for new cases
·        Dallas Fed Kaplan says seeing pronounced slowing in economy again

Forex Majors

EURUSD CMP: 1.1398

Composite Strength Meter suggests 92% Buy

Trend : Strong Buying

Entry Points: 1.1375, 1.1350, 1.320

Profit Booking Points: 1.1430, 1.1460, 1.1500

Trend Changing Zone: 4H closing below 1.1200

 

AUDUSD CMP: 0.6991

Composite Strength Meter suggests 92% Buy

Trend : Strong Buying

Entry Points: 0.6950, 0.6930

Profit Booking Points: 0.7020, 0.7060

Trend Changing Zone: 4H closing below 0.6827

 

NZDUSD CMP: 0.6550

Composite Strength Meter suggests 75% Buy

Trend : Strong Buying

Entry Points: 0.6520, 0.6490

Profit Booking Points: 0.6570, 0.6590

Trend Changing Zone : 4H closing below 0.6400

 

 

USDJPY CMP: 107.30

Composite Strength Meter suggests 68% sell

Trend: Mild Selling

Entry Points: 107.30, 107.50

Profit Booking Points 107.10, 106.90, 106.70

Trend Changing Zone: 4H closing above 108.20

 

USDCHF CMP:  0.9405

Composite Strength Meter suggests 89% Sell

Trend: Strong Selling

Entry Points: 0.9410, 0.9440

Profit Booking Points: 0.9370, 0.9350

Trend Changing Zone: 4H closing above 0.9550

 

GBPUSD CMP: 1.2571

Composite Strength Meter suggests 58% buying

Trend Neutral

Avoid Trading 

 

XAUUSD CMP: 1809

Composite Strength Meter suggests 62% buy

Trend Neutral

Avoid Trading 

 

WTIUSD CMP:  40.40

Composite Strength Meter suggests 52% sell

Trend: Neutral

Avoid Trading

 

 

 


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