Forex Daily Anaylysis Summary By Soegee Futures.
- US Dollar weakens ahead of US elections, markets focus on stimulus.
- In contrast to USdolar’s reliance on stimulus expectations, the yuan extended its extraordinary rally on Wednesday’s session, reaching its highest level in 27 months and sending other Asian currencies to gain too
Market Fx Techincal Overview October 21th, 2020
The 1.1857 area is a signal for continued strengthening of the Euro, if it breaks and closes H4 above the 1.1888 area, the target is to the 1.1919 area, otherwise the 1.1810 area is a signal of weakness, closing H4 is below the 1.1777 area target to the 1.1755 area. Buy levels : 1.1808-1.1840 Cutloss : 1.1755, Sell levels : 1.1888-1.1919 Cutloss : 1.1955
The 1.2997 area becomes a further signal for the strengthening of the pound, closing H4 above the area is the target to the 1.3030 area, conversely the 1.2963 area becomes a signal of weakening, if closing H4 is below the 1.2956 area the target is the 1.2913 area. Buy levels : 1.2930-1.2960 Cutloss : 1.2898, Sell levels : 1.3015-1.3040 Cutloss : 1.3080
Daily Analysis AUDUSD
The 0.7071 area is a signal for the weakening of the Aussie, if there is a closing below the 0.7063 area, target the 0.7019 area, on the other hand, the 0.7104 area will be a signal of strengthening, if the closing area is above that area, target the 0.7125 area. Buy levels : 0.7025-0.7055 Cutloss : 0.7005, Sell levels : 0.7107-0.7130 Cutloss : 0.7166
Daily Analysis USDJPY
The 105.20 area signals a strengthening of the Yen, closing below the 105.20 target area to the 105.04 area, conversely the 105.41 area signals a weakening closing above the 105.53 area target to the 106.66 area. Buy levels : 104.90-105.05 Cutloss : 104.55, Sell levels : 105.35-105.53 Cutloss : 105.66
USDCHF Daily Analysis
The 0.9040 area is crucial in the continuation of the strengthening of the Swiss Franc, if the closing of H4 is below that area, target the 0.9000 area, on the other hand the 0.9070 area is a signal of weakness, closing above that area targets the 0.9099 area. Buy levels : 0.8988-0.9009 Cutloss : 0.8960, Sell levels : 0.9050-0.9090 Cutloss : 0.9125
Anaylysis By : Ianz