Trade Idea (RSI, Woodies CCI, Divergence, GMMA, Fibonacci, Pivot) 2020-09-25

Trade Idea

Good morning.

US stocks rebounded a bit, and USD buying momentum until the day before weakened, EURUSD fell to 1.1627 in the European market, then rebounded to 1.1685, ending at around 1.167 in US market. AUD was still sold all day yesterday. AUDUSD temporarily approaching the 0.70 and closing the US market around 0.704. USDJPY has been firm at around 105.2 to 105.45.

AUD is always moving to one side. AUDUSD fell 300 pips from this Monday. The chart below shows the currency strength and US stocks (bold orange) since the beginning of this year. Looking at the modulation from 2nd of September, not only AUD but all currencies other than JPY has been sold. (Please click the chart to enlarge.)

As for EURUSD, it broke below 1.17 the day before, I thought that it would plummet to 1.15 with loss-cut, but after falling to 1.167, it rebounded to 1.1685, ending the US market around 1.167. It is currently around 1.166 on Friday’s Tokyo market, around Weekly Pivot S2. I’m still waiting. Since it’s Friday, there is probably no trade this week. There is no position now.

(Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength

US market yesterday

Dow30: 26,815(+52, -0.20%)
S&P500: 3,246(+0.30%)
Nasdaq: 10,672(+0.37%)
10-Yr bond: 0.671 ↓
WTI Oil: 40.27 ↑
Gold: 1,869 ↑

Asian market today

Nikkei: 23,191~ (+103)
CME Dow future: 26,812~(+97 Dow)

Economic indicators today

GMT 12:30 (US) Durable goods orders