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EURO vs's Potential $1.17 ResistanceMy Fellow Traders, Appreciate you taking the time to view my analysis, in which I hope you may find it beneficial. Please be sure to “LIKE” if you indeed find my analysis useful and/or find my analysis intriguing. Also, I’m new to charting game and the crypto/stock space. So, if you have any constructive criticism or tips, please share. Cheers & Happy Trading! ------------------------------------------------------------------------------------------------------------------------------------------------------------------ ANALYSIS: The EURO appears to be struggling at $1.17, which should turn into resistance. If the previous overhead diagonal resistance continues to act as support, we can see the EURO funnel down to re-test support at $1.1686. Moreover, as new COVID cases in Europe are on an uptrend, this bearish narrative seems like a not too distant reality. Especially as we are seeing the 20ema wanting to reclaim its dominance over the 9ema.
Short
by AB_Trading-Intelligence
2
American Dollar Flattens at Quiet TradesAmerican Dollar Flattens at Quiet Trades US and China stayed quiet as both countries finalized the trade talk’s Phase One agreement. As a result, the American dollar walked flat. USD/EUR went up by 0.12% at 0.8999 when finance analysts warned investors of the ongoing Brexit debate. The proposed withdrawal was called a “risk-off tone.” In Japan, the greenback inched behind the yen by 0.01% at 108.45, a little over its weakest 108.25 low on October 15. Investors insisted on moving into the safe-haven currency as Brexit develops, which signaled a repeated delay for the withdrawal. The US dollar edged slightly lower than the loonie by 0.02% at 1.3089. Rising crude oil prices allowed Canada to stay on par with the American dollar. The Greenback stepped up against its New Zealand and Swiss counterparts at 0.03% and 0.22%, respectively. USD/AUD went up by 0.22% at 1.4612 at the US Dollar’s demand for the traditional safe-haven market. Meanwhile, sterling lost to the dollar at $1.1122, just below a two-month high at $1.1180. Speculations point to the UK Prime Minister Boris Johnson’s demands for a snap election. Europe’s involvement in the matter brought the USD/EUR pair up by 0.12% at 0.8999. Analysts expect the biggest monthly fall in the dollar index since January of last year. What’s in it for the British? British Prime Minister Boris Johnson’s demand for a general election could push sterling behind its competitors. The final decision will determine the GBP/USD exchange rate in the long run. Sources say the Brexit uncertainty lessens risk appetite. The conflict will benefit Greenback as its safe-haven status against the British counterpart shows. Now that the US and China are quiet about the inner dealings of Phase One, the UK was on a risk-off mood. However, households expect potential interest rate cuts to help limit the currency’s losses. Reports say Sterling will have to rely on American price dynamics to the pair’s momentum. Otherwise, it can lead to producing trade opportunities.
by Financebroker
European Union aims to resume free trade talks with ThailandEuropean Union aims to resume free trade talks with Thailand The European Union intends to resume trade negotiations with Thailand on a free trade agreement (FTA). European Union council said in a statement after suspending trade talks after the military coup in 2014. In March, Thailand held general elections where pro-army coalitions formed the government officially ending the five-year military rule. At this point, the Council is considering it appropriate for the EU to move towards broadening its engagement in Thailand. Efforts towards the engagement partly include signing a Partnership and Co-operation Agreement (PCA). The PCA aimed at closer economic and political ties with Thailand. Another effort will be towards resuming trade negotiations with South Asia- the second-largest economy. The Council also stressed the importance of resuming trade talks on an ambitious and comprehensive Free Trade Agreement. According to the European Commission, trade between the European Union and Thailand was valued at about 38 billion euros ($42 billion) in 2018. The European Union is Thailand’s third-largest export market. For example, Thailand sells goods and services worth 22.9 billion euros, mainly machinery and transport equipment. After the 2014 coup when the Military overthrew a civilian government, the European Union kept its relations with Thailand under review. Plus, the European Union also put on hold the signing of the Partnership and Cooperation Agreement and the FTA. In 2017, the European Union resumed political contract with Thailand. European shares rose a two-week high on hopes of smooth Brexit European shares hit a two-week high on Tuesday, as markets positively responded to Michel Barnier – the European Union’s chief Brexit negotiator. Hence, the European Union deal with Britain over Brexit terms of their divorce was still possible this week. The pan-European STOXX 600 index rose 0.6% by 0709 GMT with some British banks leading gains. The FTSE 250 (FTMC) – the UK-focused midcap gained 0.8%, while Dubin’s ISEQ rose 1.5%. Barnier’s comments of Brexit gave investors fresh hopes that Britain would be able to clinch a deal to ensure a smooth Brexit on Oct. 31. Recruiter Hays Plc was the biggest gainer on the benchmark index jumping 5.5%. The company had reported a flat first-quarter net fees Recruiter Hays Plc (L:HAYS) jumped 5.5% and was the biggest gainer on the benchmark index, after the company reported flat first-quarter net fees as strong hiring in the United States and China offset a drop in the United Kingdom.
by Financebroker