Lots and Lots today


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Daily Outlook – 17 Nov. 2020

By: Andria Pichidi

Wall Street may have closed at record highs yesterday on news of a second vaccine, but trading across Asia was relatively muted by comparison. -Moderna’s announcement that its vaccine is 94.5% effective in preventing the coronavirus – The RBA’s minutes once again stressed that the bank is ready to act again. – US Treasury yields have lifted 0.7 bp t0 0.91% and Oil prices have lifted to USD 41.66. – NASDAQ lagged as stay-home shares were a drag. – Tesla Inc. shares jumped more than 10% after the announcement that the company will join the S&P index on December 21. – EU’s ambitious plans for a recovery fund were dealt a blow yesterday as Poland and Hungary blocked the EU’s next 7-year budget.


USDIndex – steadied to 92.50

EUR – failed to break 1.1860. Currently above PP at 1.1845, R1:1.1873, S1 1.1820

JPY – holds under pressure – PP 104.68, S1 104.25

GBP – got a boost – chief negotiator reportedly telling PM Johnson that landing zones are in sight Currently at low 1.3200

AUD – closed above PP: 0.7300. –R1 0.7343

NZD – Daily Morning star?

CAD – break 1.3100 on stronger Oil. Currently at 1.3078 – PP 1.3091 and S1 at 1.3046

CHF – flattened at 0.9120

BTC – Currently at 16,876

GOLD – 7th day below 20-DMA – stalled at 1890

USOil – continued to rise on the prospect of a global economic recovery. – Lifted to 42.08 yesterday. Currently at 41.27

Today – U.S. business inventories, retail sales, industrial production, trade price, ECB’s Lagarde is scheduled to speak

Biggest (FX) Mover – XPRUSD (+5.85 as off 9:50%) – Ripple had an impressive +8.4% week catching positive momentum from the Bitcoins renewed bullish momentum which is pulling altcoin prices higher. The rise of holders with coins containing large amounts of $XRP has been very apparent. Near term, momentum is high, with MACD and RSI extending northwards and MA’s pointing higher. H1 ATR 0.00447 Daily ATR 0.01297

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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