Trade Idea (RSI, Woodies CCI, Divergence, GMMA, Fibonacci, Pivot) 2020-10-08

Trade Idea

Good morning.

Yesterday’s US stock market was on a risk-on mood. The day before, President Trump’s comment on additional economic measures were suspended until after the presidential election, and the stock prices fell sharply, but yesterday he requested discussions on targeted support measures.

In the foreign exchange market, JPY depreciated entirely due to the risk-on mood. EURUSD temporarily rose to 1.178, but the upside momentum was not strong, ending at 1.176. AUD has also slowed back, rising to 0.715 and ending at 0.714. USDJPY has risen to 106.10 and has closed the US market at 105.9.

Despite returning to risk-on mood, EUR and AUD have been slow to return, with frequent small divergence. On the other hand, USD was not sold as much as JPY, and as a result, USDJPY exceeded 106 level.

(Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength

US market yesterday

DJIA: 28,303.46 (+530.7, +1.91%)
NASDAQ: 11,364.6 (+209.99, +1.88%)
S&P 500: 3,419.45 (+58.5, +1.74%)
GOLD: 1,890.3 (-0.5)
OIL: 40.02 (+0.07)
US 10-YR: 0.78 (-0.005)
VIX: 28.06 (-1.42)

Asian market today

Nikkei: 23,516~ (+93)
CME Dow future: 28,196~( -107 Dow)

Economic indicators today

GMT 11:30 (US) ECB minutes(9/10)
GMT 12:30 (US) New jobless claim