Trade Idea
Good morning.
DJIA rebounded on Friday (Nasdaq fell slightly) by expectations for vaccine development, and unexpectedly strong retail sales.
In forex market, by expectations for vaccine development, USD and JPY were sold in risk-on mood. EURUSD was dominated by buybacks but did not aggressively pursue upside, failing to break through the daily 20-day SMA resistance of 1.1735 and closed the week at 1.1717. Meanwhile, GBPUSD ended at 1,2916 after large volatility between 1.286 and 1.296, following a statement by Prime Minister Mr. Johnson following the EU summit. By confirming the continuation of UK-EU negotiations, GBPUSD seems to be safer for the time being.
EURUSD H1 (Please click the chart to enlarge.)
GBPUSD H1 (Please click the chart to enlarge.)
Market Environment
Yesterday’s currency strength
US market yesterday
DJIA: 28,606.31 (+112.11, +0.39%)
NASDAQ: 11,671.55 (-42.31, -0.36%)
S&P 500: 3,483.81 (+0.47, +0.01%)
GOLD: 1,902.9 (-6)
OIL: 40.78 (-0.18)
US 10-YR: 0.749 (+0.015)
VIX: 27.41 (+0.44)
Asian market today
Nikkei: 23,551~ (+141)
CME Dow future: 28,516~（ -89 Dow）
Economic indicators today
GMT 02:00 (China) Retail sales etc
