Ang dami talagang naapektohan ng Covid-19, at syempre kasama na dyan ang mga Forex Traders kagaya natin. Sabi nga nila, yung uncertainty daw ng market ay bunga ng pandemic. Kung kaya naisipan ko na silipin ang GOLD (XAU/USD) kung ano ang naging status nito. Kasi marami talaga ang gusto magTrade ng GOLD dahil sa volatility nitong dala at malakihang potential profit.
Para mapabilis ang kwentohan, pwede mo panuorin ang Live-stream natin tungkol sa topic na ito.
Forex Trading Session and Market Review (June 29, 2020)
Main issues for June 29, 2020:
👉The covid-19 cases worldwide reached 10M and total deaths of more than 500K. As investors became worried about the surge in the US, mainly in states like Texas, Florida and Arizona.
👉Meanwhile in China, a vaccine called Ad5-nCoV is currently under development.
👉Gold is holding onto the high ground around 1,770.
👉WTI Oll is retreating from its previous gains and trades around $37.
Gold Price Forecast: XAU/USD – A Reversal or Continuation?
On a multi-time frame analysis, we can see that the market is approaching a very strong resistance area where a reaction is expected.
Monthly chart
Weekly chart
Looking on the 4 hour chart below, we can see that the market is bullish, but the higher risk to reward at this situation could be from the perspective of the sellers in an opportunity within a phase of distribution from said resistance zone ($1800 price level).
By measuring it with Fibonacci level, along the 50% of its reversion from the $1,800 level would be a compelling area in the $1,720/40 zone where price had been agreed.
4 Hour chart
Investor Bets Against Pound Could Rise on Brexit Fears — Market Talk
1435 GMT – Investor bets against sterling are likely to build in coming weeks as U.K.-EU trade deal talks intensify, ING says. “Although the U.K. government is taking steps to reopen the economy and reportedly working on an infrastructure boost, lingering short positioning is telling us that Brexit uncertainty will continue to drive the large majority of GBP moves,” ING’s Francesco Pesole says after CFTC data showed short positions in sterling–bets that the currency will weaken–rose in the week to June 23. GBP/USD falls 0.3% to a one-week low of 1.2297 and EUR/GBP rises 0.7% to a three-month high of 0.9172, according to FactSet, as the U.K. and EU started talks Monday.
Pound Falls as Crunch Brexit Talks Begin — Market Talk
0909 GMT – The pound falls to a one-week low versus the euro as the U.K. and EU begin intensified talks for a trade deal on Monday after making little progress so far. The crunch Brexit negotiations will be the first held face-to-face since the coronavirus shutdowns. Meanwhile, U.K. Prime Minister Boris Johnson is expected to outline plans for further stimulus in a speech on Tuesday. “While progress in Brexit talks and looser fiscal policy would be supportive for the pound, they are not immediate triggers for a rebound,” MUFG’s Derek Halpenny says. EUR/GBP rises 0.4% to a one-week high of 0.9130, according to FactSet, while GBP/USD is down 0.1% at 1.2325.
Brexit, Covid-19 to Trigger Permanent Losses in UK Output — Market Talk
0907 GMT – The double whammy of Brexit and the corinavirus pandemic makes the crisis more likely to result in “significant permanent losses in U.K. output,” Citi analysts say. “In the aftermath of Covid-19 and Brexit, the structure of the U.K .economy is likely to change materially. This implies dogged unemployment, weaker household sentiment and a slower recovery,” say analysts Christian Schulz and Benjamin Nabarro. “We expect the rapid [Brexit] transition to a rudimentary deal to still drive a substantial slowdown in H1-2021,” they say, stressing that no-deal Brexit remains a notable risk. They forecast the U.K. gross domestic product to fall 19.0% quarter-on-quarter in 2Q, with output growing by 12.0% and 5.1% quarter-on-quarter in 3Q and 4Q.
© Dow Jones Newswires
Ang dami talagang naapektohan ng Covid-19, at syempre kasama na dyan ang mga Forex Traders kagaya natin. Sabi nga nila, yung uncertainty daw ng market ay bunga ng pandemic. Kung kaya naisipan ko na silipin ang GOLD (XAU/USD) kung ano ang naging status nito. Kasi marami talaga ang gusto magTrade ng GOLD dahil sa volatility nitong dala at malakihang potential profit.
