GBPUSD trends lower but consolidating/correcting in early NY session
Finds some support at swing lows from Monday/Tuesday
The GBPUSD has trended lower mostly in the London session today. However, the move lower was helped by hold a topside trend that admittedly was broken yesterday, but could not accelerate to the upside. The hold of the trend line was a help for sellers confidence.
The EURUSD is testing day lows after run higher failed
Swing area at 1.08607-646 is a swing area going back to mid February.
The EURUSD has been trading up and down. On the topside, the pair did move above a swing area at 1.0885 to 1.0890, but ran into topside resistance trend line.
The CHF is the strongest and the GBP is the weakest as NA traders enter for the day
The USD is stronger today
As NA traders enter for the day, the focus remains on the coronavirus details, the stock markets reaction and fear. That - along with technicals - should drive the forex market. The European market had limited data but saw their major indices move lower but rebound. The German Dax is still
Trump will have a press conference at 6 pm ET (2300 GMT) on coronavirus
Trump to speak about the virus
The Washington Post today reports that Trump is 'furious' that the stock market is falling because of coronavirus.
The president has reportedly cautioned aides against forecasting the
impact of the virus over fears that stocks could fall further, The
Washington Post said.
US MBA mortgage applications w.e. 21 February +1.5% vs -6.4% prior
Latest data from the Mortgage Bankers Association for the week ending 21 February 2020
A mild increase on the week, owing to higher purchases, but the good news is that the long-term mortgage rate continues to ease further - and will surely fall further this week. That should help with home buyers a little
USD/JPY climbs to session high on yields turnaround
USD/JPY touches a high of 110.60 on the day
The pair is climbing back up towards the 200-hour MA (blue line) as the turnaround in yields is prompting yen crosses to move higher on the session. US 10-year yields are up by 1.8 bps to 1.37% currently, after having fallen to 1.31% earlier.
Disclaimer: The trade in Forex and Cryptocurrencies can generate significant benefits but also involves a risk of partial or total loss of funds and should be considered by the initial investors. We recommend you that you read our terms and conditions and the disclaimer page before making any investment. The clients should be aware of their individual capital gain tax liability in their country of residence. This website is independent of forex and crypto brokers featured on it. Before trading with any of the brokers, potential clients should ensure they understand the risks and verify that the broker is licensed. The website does not provide investment services or personal recommendations to clients to trade forex and crypto options.
USA regulation notice: Cryptocurrencies companies are not regulated within the United States. These companies are not supervised, connected or affiliated with any of the regulatory agencies such as the Commission of Futures of Commodities (CFTC), National Futures Association (NFA), Securities Commission (SEC) or Regulatory Authority of the Financial Industry (FINRA).
Disclosure of Risk: fxrobotix.com don't accepts responsibility for loss or damage as a result of trust in the information contained in this website; This includes educational material, automatic operations, and graphics, and analysis. Please remember, the user has to be aware of the risks associated with trading in financial markets. Profits may vary according to market conditions and each user. The profits and results, we recommend you read the terms and conditions. In case the potential client does not understand the risks involved, he/she should seek advice or consultation from an independent advisor. If the potential client still does not understand the risks involved in trading in any financial instruments, he/she should not trade at all.