Trade Idea (RSI, Woodies CCI, Divergence, GMMA, Fibonacci, Pivot) 2020-09-30

Trade Idea

Good morning.

Today, the presidential candidate TV debate from GMT 01:00 (in Tokyo Market) is the focus of attention. Yesterday’s US stocks was wait and see after rebounding ahead of the TV debate.

The foreign exchange market was in mixed movements, EUR and AUD had a repurchase advantage, GBP faced resistance, while JPY selling flow of rebalancing at the end of the month supported USDJPY.

EURUSD was strong all day long. It has closed the US market near 1.1743. It has recovered to the low 1.17 level, which functioned as a strong support since August. It rose 130 pips in this week. It includes USD buying flow at the end of the month, so the real upside may be higher.

We can see USDJPY rebalancing at the end of the month, following the previous day.

(Please click the chart to enlarge.)

Rebalancing of month-end USDJPY H1
(The point is blue vertical line. Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength

US market yesterday

Dow30: 27,452(-131, -0.48%)
S&P500: 3,335(-0.48%)
Nasdaq: 11,085(-0.29%)
10-Yr bond: 0.651 Down
WTI Oil: 39.16 Down
Gold: 1,902 Up

Asian market today

Nikkei: 23,458~ (-80)
CME Dow future: 27,441~( -11 Dow)

Economic indicators today

GMT 01:00 ~ (US) 1st debate of  presidential candidate
GMT 01:00 (CH) Manufacturing PMI / Non-manufacturing PMI
GMT 12:15 (US) ADP

1 (Thu) (JP) BOJ Tankan 3Q
1 (Thu) (US) ISM Manufacturing Index
1 (Thu) (US) New jobless claim
1 (Thu) (EU) EU Extraordinary Summit (~ 2 days)
2 (Fri) (US) NFP
6 (Tue) (AU) RBA policy rate