This week the US non-farm employment change and initial claims are the most important news
After the completion of the three pushes pattern in the upcoming week, we will have a bear market period
According to the Elliot waves idea: We're in the first stage of the 5th wave... The end of the 4th wave is not confirmed yet... The stop loss can be 1ATR below the beginning of the current wave... :)
It seems there is no stimulus package anymore... there is no control over the COVID-19 curves yet... The China-US tension has risen over time... The US election issues... It seems the demands for OIL is not coming soon... The USD weakening is exhausted...
In the lack of the strength of the bulls, it could not form the ideal harmonic pattern. The bulls need to gain more ground to rise.
You can put a sell limit order entry: around 1.25500 SL:1.28200 TP: 1.18250
If the price can break the key support level of 6700 the next target will be 5650... :(
The current 2.3 trillion lending program in the US... It will lower the value of the dollar in the upcoming short period of time The bat flyes :)
you can go long in 0.60500 SL: 0.59200 TP: 0.64300
JPY was losing against other currencies in the past day and maybe the entire week !? CHF can act as a safe haven in the recent crisis whereas JPY has lost its traditional safe haven role ...