Trade ideas thread – European session 23 February 2021

Trade ideas thread – European session 23 February 2021

Day by day thread to trade concepts and to share your ideas

After yesterday’s drop, the greenback is sitting on the sting however is holding considerably steadier in the present day forward of European morning commerce.

WCRS 23-02

EUR/USD is contesting recent highs in practically a month round 1.2170 whereas USD/JPY has slumped again to check the 105.00 deal with in the present day.

In the meantime, there are just a few runners with GBP/USD extending above 1.4000, AUD/USD wanting in direction of 0.8000, and USD/CAD on the lows for the yr below 1.2600.

Commodities are nonetheless the frontrunners this week with oil gaining to $62.60 and testing its 100-month shifting common as soon as once more in the present day. That will likely be a key degree to observe within the week forward to gauge patrons’ resolve.
Spend money on your self. See our foreign exchange schooling hub.

Elsewhere, gold is pushing again above $1,800 as patrons seize near-term management on a push above its key hourly shifting averages. Nevertheless, the important thing each day shifting averages @ $1,858-63 would be the main check for any intensive upside break in gold.

As a lot as there’s loads of give attention to yields and inflation, the commodities push can also be a key theme to pay attention to out there; although it does tie collectively.

The shift in flows could also be a well timed one with equities additionally overdue a “wholesome” correction. However within the context of the larger image, it’s laborious to battle the ability of straightforward cash and the dip shopping for technique in threat trades till the Fed modifications its stance.

What are your views available on the market proper now? Share your ideas/concepts with the ForexLive neighborhood right here.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *