Skip to main content

Today’s Market Update (20/07/2020)

Market Update (20/07/2020)

Some key takeaways during last few hours  

·         Weekend UK news - Foreign minister Raab set to suspend extradition treaty with Hong Kong

·         JP Morgan USD models suggest further strength to come

·         Saudi King Salman has been admitted to hospital for 'medical check ups'

·         Japan trade balance for June Y -268.8bn (expected Y -11.9bn)

·         US coronavirus cases reported at +67k to nearly 3.7 million now

·         New Zealand services PMI for June: 54.1 (prior 37.2)

·         Unsourced report that Trump admin, GOP leaders to meet Monday for next round of stimulus funding


Today’s Economic calendar


Forex Majors


EURUSD CMP: 1.1421

Composite Strength Meter suggests 91% Buy

Trend : Strong Buy

Entry Points: 1.1390, 1.1350, 1.320

Profit Booking Points: 1.1460, 1.1500

Trend Changing Zone: 4H closing below 1.1200

 

AUDUSD CMP: 0.6983

Composite Strength Meter suggests 91% Buy

Trend : Strong Buy

Entry Points: 0.6950, 0.6930

Profit Booking Points: 0.7020, 0.7060

Trend Changing Zone: 4H closing below 0.6827

 

NZDUSD CMP: 0.6548

Composite Strength Meter suggests 79% 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: 107.33

Composite Strength Meter suggests 73% sell

Trend: Strong Sell

Entry Points: 107.50, 107.70

Profit Booking Points 107.10, 106.90, 106.70

Trend Changing Zone: 4H closing above 108.20

 

USDCHF CMP:  0.9397

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: 1.2528

Composite Strength Meter suggests 53% Sell

Trend Neutral

Avoid Trading 

 

XAUUSD CMP: 1807

Composite Strength Meter suggests 62% Buy

Trend Neutral

Avoid Trading 

 

WTIUSD CMP:  40.72

Composite Strength Meter suggests 52% 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

 


Comments

Post a Comment

Popular posts from this blog

Latest Fx Updates

    Forex Market Update 11/08/20 EURUSD CMP : 1.1749 Composite Strength Meter Suggests : 71% Buy Trend : Strong Buy Entry Levels : CMP, 1680 Profit Booking Levels : 1.1790, 1.1825 Stop Loss: 4H candle closing below 1.1550 AUDUSD CMP : 0.7179 Composite Strength Meter Suggests : 78% Buy Trend : Strong Buy Entry Levels : CMP, 0.7120 Profit Booking Levels : 0.7220, 0.7280 Stop Loss: 4H candle closing below 0.6970 NZDUSD CMP : 0.6616 Composite Strength Meter Suggests : 74% Buy Trend : Strong Buy Entry Levels : CMP, 0.6560 Profit Booking Levels : 0.6660, 0.6730 Stop Loss: 4H candle closing below 0.6500 GBPUSD CMP : 1.3087 Composite Strength Meter Suggests : 79% Buy Trend : Strong Buy Entry Levels : 1.3035, 1.2985 Profit Booking Levels :  1.3140, 1.3225 Stop Loss: 4H closing below 1.2850 USDJPY CMP : 106.02 Composite Strength Meter Suggests : 64% Sell Trend : Neutral - Mild Sell Entry Levels : Avoid Profit Booking Levels : NA Stop Loss: NA USDCHF CMP : 0.9150 Composite Strength ...
Post a Comment
Read more

Major FX Updates (27/08/2024)

 
Post a Comment
Read more

Latest Fx Market Updates

Forex Market Update 15/09/20 EURUSD CMP : 1.1886 Composite Strength Meter Suggests : 86% Buy Trend : Strong Buy Entry Levels : 1.1855 Profit Booking Levels : 1.1910, 1.1940 Stop Loss: 4H candle closing below 1.1725      AUDUSD CMP : 0.7311 Composite Strength Meter Suggests : 80% Buy Trend : Strong Buy Entry Levels : 0.7275 Profit Booking Levels : 0.7330, 0.7360 Stop Loss: 4H candle closing below 0.7150 NZDUSD CMP : 0.6713 Composite Strength Meter Suggests : 83% Buy Trend : Strong Buy Entry Levels : 0.6680 Profit Booking Levels : 0.6735, 0.6750 Stop Loss:  4H candle closing below 0.6500 GBPUSD CMP : 1.2855 Composite Strength Meter Suggests : 56% Sell Trend : Neutral Entry Levels : Avoid Profit Booking Levels : NA Stop Loss: NA USDJPY CMP : 105.65 Composite Strength Meter Suggests : 66% Sell Trend : Neutral  Entry Levels : Avoid Profit Booking Levels : NA Stop Loss: NA USDCHF CMP : 0.9070 Composite Strength Meter Suggests : 74% Sell Trend : Strong Sell Entry Level...
Post a Comment
Read more