Trade Idea (RSI, Woodies CCI, Divergence, GMMA) 2020-09-08

Trade Idea

Good morning.

The US market was closed on Labor Day.
GBPUSD fell sharply due to the increasing risk of “Hard Brexit” without agreement by difficulty of the British-European trade talk.

EURUSD softened to 1.182. As for this currency pair, by the end of the weekend, adjustments sales were almost completed and the resistance at 1.18 seemed strong, but yesterday’s movement seemed to be not positive, even US market were closed. There will be an ECB monetary policy announcement the day after tomorrow.

The red horizontal line in below EURUSD H1 chart is 1.18. I will not change the EURUSD buy on dips stance, but if it breaks below 1.18 it seems that the adjustment sale will be prolonged.


Market Environment

Yesterday’s currency strength

US market yesterday

Holiday (Labor Day)

Asian market today

Nikkei:around  23,201(+110)
Dow future:around 28,330(+193 Dow spot)

Economic indicators today

No important economic indicators will be announced today.

9/10 (Wed) BOC monetary policy
9/10 (Thu) ECB monetary policy