The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus.
EUR/JPY looks grim
Information is not investment advice
The current risk aversion is encouraging the safe-haven demand for the JPY, while the weakness of the euro area’s economy is hurting the EUR. As a result, EUR/JPY will likely remain under pressure. Last week’s attempt of the pair to recover failed. Now there are all reasons to expect the continuation of the slide to lower levels, especially as long as the euro remains below the weekly pivot point at 117.18. The evident target is the 78.6% Fibonacci retracement level of the 2016-2018 advance at 115.40.
Currently, the precious metal trades in the zone of 7-year highs. How far away is the all-time high?
The volatility in USD/MXN has jumped. The pair is correcting up within the downtrend, which has been in place since September.
While Donald Trump continues to lead the Republicans, the Democrats have not chosen its representative yet. With around 8 months till the US election, what are the chances for any of the candidates to affect the USD?
AUD is on a downswing against the USD. It reached the Spring-2009 lows. Will it continue the same direction?
NZD seems to be in an equal fight against the JPY. What stands behind that?