Nixse
0

EUR/USD and AUD/JPY on Oct. 16, 2020

EUR/USD continues to put a lot of pressure on the euro, primarily due to the increase in the number of people infected with the coronavirus, and the probable introduction of new health measures, as well as restrictions on movement in both cities and countries.
Today’s economic news generally did not bring us anything new, everything was as expected. The report on The Consumer Price Index is at the forecast level of -0.3%. The Italian trade balance stands out, which is 3 times smaller than the previous one, and everything else is disappointing even below the predicted parameters. German Car Registration is at 8.4% and if we look at the period before the corona, it is also below average but is slowly recovering.
President Donald Trump wants to push through a $ 1.8 trillion aid package, but he still does not have enough support for that action. US retail data for September should show moderate growth after August statistics lag behind estimates. The retail control group in GDP is forecast to climb 0.2% in September after a surprising fall of 0.1% in August. So we look forward to the news from the American market.
Looking at the chart, and today is Friday we can track the MA 50 and MA 200 as possible resistances up, the zone from 1.17550-1.17750 to the trend line. There one needs to be careful and monitor whether the chart will make Lower high. When we receive the confirmation we enter the sell position.

AUD/JPY bearish scenario, on October 12 this pair made a lower high 76.40 and created the opportunity to enter the sell position, below the value fell below 75.00. Resistances above MA 50 and MA 20, below we can see the support of MA 200 around 72.85-73.00.
The Australian dollar fell on Tuesday after reports that China stopped importing coal from that country because their relations were deteriorating. There is still a clear symbiotic relationship between the two nations as much as Australia still relies on exports to China and China on high-quality coal. iron ore from Australia as it rebuilds its economy, ”Craig said.
Keith Juckes, a macro strategist at Societe Generale, said the Australian dollar should also be backed by a strong Australian fiscal stimulus. For now, there are no indications of that other than the announcement of a possible reduction in interest rates in November. On the other hand, the Japanese had a balance of payments report yesterday on net data showing a difference in capital inflows and outflows where the report was positive and above forecasts.

  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 0 (0 reviews)


You might also like

Leave a Reply

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spread
    Sending
  • Trading Instrument
    Sending