GBP/USD, EUR/USD, Dow Break Out Levels & Next Weeks Events

GBP/USD, EUR/USD, Dow, NASDAQ 100 – KEY POINTS:

  • The Key event risk ranges from the United States earnings to the UK and China GDP to properly rate rank decisions from the BOE, BOJ, and ECB amongst other important elements.
  •  Additional systemic measures of the risk trends such as the S&P 500 and Dow will face the COVID-19 uncertainties amid recession fears and US-CHINA Tensions instigating a trade war.
  • China seems to make a run for it with the Shanghai composite rise to end this previous week, but Nasdaq and stocks such as Netflix and Tesla continued to rise.

The Uncertain Lead from the U.S Tech- Rebuilt After China’s Sentiments

Free $100 Forex No-Deposit Bonus

Over the past week, the lead amongst risk appetite benchmarks has been crystal clear. Chinas equity markets rose higher supported by the indirect assurance that was issued by the state supporting domestic capital markets. Once the 17% Shanghai composite rallies in eight days, nevertheless, the Chinese government recognized the reckless tact and pace steps to quickly throttle the run that had a few bubble hallmarks. The past one-week was closed with a significant drop from the previous Chinese benchmark, which was the greatest since the March drop. In case you are a global market bull; it is highly likely that you will have to find conviction somewhere else.

China’s Shanghai Composite Index Chart

Dow-EURUSD

Although china’s officials responsible for policy development recognize the fact that pressure is building in their domestic market and ultimately responded, it is highly likely that they are not willing or don’t want to stop the tension in the united states tech industry equities. On the other hand, Nasdaq 100 closed the previous week charging the record highs. It shouldn’t be a surprise that some of the main categories catalyst. Therefore, we are pressing their record highs. Essentially, Tesla was an immense talking point with the headlines somehow fixated on Tesla’s CEO network. Amazon was also largely featured in the headlines for the same reasons; it was all about Jeff Bezos’s net worth. As a result, I thought that the most incredible move was from Netflix, not just because of the intensity of the moves, but because the FAANG member is searching for the earnings updates in the past one week.

Remarkable Scheduled Systemic Concerns and Event Risk Ahead

A closer look at the coming trading week, it’s highly likely that we will be facing both discreet and systemic basic themes that can immensely trigger volatility and possibly coax a few true peers. In the previous economic post, I posted to the social media sphere that traders could expect some top event risk for the next 5 days.

For a trading scheduled event risk, I would put extra stock into the GBP updates on Tuesday 14. While this is not as detailed as the quarterly report from the US, it is perfect for Eurozone’s 2nd largest member, especially looking for a doubtful recovery pace from the coronavirus. This has been further discussed on Canadian Dollar, Australian Dollar, Dow Jones Outlook – Positioning Bets.

With a reasonable deviation from the forecasts, the lift here is sufficient to charge the GBP/AUD or GBP/USD breakout.

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.