GOLD hits record high


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Daily Outlook – 27 Juy 2020

By: Stuart Cowell

GOLD hits record high, USD SLUMPS AGAIN today after a poor close on Friday. Increase US-China tensions (the US arrested suspected spy over the weekend) Dems & Republicans cannot agree on the next stimulus package and increases in virus outbreaks (USA, Spain & Vietnam). 100 Days to US Election & TRUMP still lags Biden in key swing states. The massive week ahead – dominated by FOMC and Earnings from Apple, Amazon, Alphabet plus McDonalds, Ford, GM & Pfizer to name but a few.

USDIndex – dipped to 93.76 earlier continues to weaken. Closed Friday 94.18.
EUR – up over 1.1700, 1.1710 (R2 now)
JPY – under 105.45 earlier – trades at 105.50 now
GBP – up over 1.2800 to 1.2830 now. (R3)
AUD – holds over 0.7100 Trades at 0.7130 (R2) –
NZD – biggest mover today at R3 0.6675
CAD – under 1.3400, down to 1.3380
CHF – under 0.9200 trades at 0.9172
BTC – breaks 10,000 trades at 10,200

GOLD – all-time high under (2011 Sept) $1943 earlier –
USOil – holds $41.00 –

USA500 – closed down 20pts on Friday at 3215 – FUTS up at 3225 – above key 3200-level.

Today – German IFO & US Durable Goods,

Biggest (FX) Mover @ (06:30 GMT) NZDUSD (+0.49%) – has rallied today to 0.6678 from 0.6614 lows Friday Breaching 20 and the faster MA’s, all aligned higher RSI (67) moving higher. MACD Histogram and Signal line both moving higher & over 0 from earlier too. MFI into OB zone – H1 ATR 0.0011, Daily ATR 0.0054

Risk Warning: Trading-Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investment objectives and level of experience, before trading, and if necessary, seek independent advice.


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