Trading Market Analysis |Forex Tips |20-10-2020

Forex Market Analysis & Fundamental 

Today some Tips about NZDUSD,GBPJPY,EURUSD.

3. NZDUSD

20-10-2020 5:54:16

Short around 0.6600, Take profit: 0.6480，Stop loss: 0.6640

The expectation that the negative interest rate will be implemented rose (Short).

The expectation that the negative interest rate will be implemented rose, putting pressure on the New Zealand dollar.

Short

Time Frame:1D

 

On the chart of the day, NZDUSD continued falling.It rose and then decreased.It will continue dipping.If it is capped at 0.6600.

Time Frame:4H

 

On the 4-hour chart, NZDUSD fluctuated and decreased.The market trend was bearish. NZDUSD is expected to continue falling. Investors could sell as it rebounds.

2.GBPJPY

20-10-2020 12:30:14

Long around 135.3, Take profit: 139.8, Stop loss: 133.9.

Market sentiment eased (Long).

Earlier, British officials once again announced that the door to negotiations was still open and hinted.That a simplified version of the agreement may be reached first to avoid a complete no-deal Brexit Which temporarily warmed market sentiment.

Long

Time Frame:1D

 

On the chart of the day, GBPJPY continued rising and recovered its previous decline.The market trend was bullish.It may rebound further in the short term.Investors could buy as it reverses.

Time Frame:4H

 

On the 4-hour chart, GBPJPY fluctuated and rebounded with potential resistance at 137.9.It will rise further to 139.8.If it breaks through 137.9.The market trend was bullish.

1.EURSD

20-10-2020 12:32:57

Short around:1.1800

Take profit: 1.168

Stop loss: 1.1830

The euro’s upward momentum is curbed (Short).

At present, the rebound of the euro exchange rate itself is also subject to the continuation of the epidemic and the continued downturn of the European economy.The ongoing delay in the Brexit negotiations is also bringing additional uncertainty.

Short

Time Frame:1D

 

On the chart of the day, EURUSD rebounded slightly.It continued fluctuating and rising. However, its short-term momentum is curbed.It will start falling if it is capped at 1.1800.

Time Frame:4H

 

On the 4-hour chart, EURUSD decreased slightly.It may reverse in the short term.Investors could sell as it rebounds.

 

Due to passage of time and market volatility some of the above patterns observed may no longer be valid.

Disclaimer: 

This material is considered communication for information purposes only and does not constitute investment advice/investment recommendation or, an offer of or solicitation for any transactions in CFDs or any other financial instrument.