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Quiet Markets Looking for Dirrection

Quiet Markets Looking for Dirrection

Information is not investment advice

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Ichimoku Kinko Hyo

EUR/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.

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Fibonacci Levels

XAU/USD: Gold after a bearish correction is touching the 50% retracement area.

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European Market View

European stock markets are seen opening cautiously higher Friday, with Chinese economic data suggesting a slow recovery ahead of the release of quarterly growth numbers for the eurozone. White House said Treasury Secretary Mnuchin told House Speaker Pelosi he was willing to move forward with COVID-19 aid on some issues, but not election funding. Looking ahead, highlights from macroeconomic calendar include Eurozone employment and GDP (2nd), US Retail Sales, Industrial Production and University of Michigan Survey.

European Key Point

  • Eurostoxx futures trading at -0.2% in early European trading.
  • NZ PM Ardern supports that will extend Auckland lockdown for an extra 12 days.
  • Russia to publish coronavirus vaccine trials data in the coming days.
  • Germany reports 1,449 new coronavirus cases in latest update today.

Similar

USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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