Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
European governments or authorities announce additional restrictions
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is gyrating slightly below the lower level of the cloud. A plunge of the market will push prices down to the previous bottom. Alternatively, a successful penetration of the lower level of the Kumo will lead the market within the cloud.
Market View
It was a quiet day in the equity markets in Europe and Asia yesterday. US markets were closed due to Thanksgiving holiday. However, global risk sentiment was hit overnight by rising concerns of a new, and possibly highly transmittable COVID-19 variant/mutation which has been observed in South Africa. It is too early to say but this variant it could have the ability of spreading rapidly. Waiting to hear if/when European governments or authorities announce additional restrictions, vaccine requirements or lockdowns. In this environment Asian markets were sharply lower this morning, U.S. and European futures are in the red as well.
In the FX front USD and JPY are usually the winners in a risk off sentiment as they are typically viewed as safe heaven currencies.
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Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
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Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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