Jul 012020
Market has spoken. Bulls pulled off another positive run yesterday to mark a 2-day winning streak. We’re expecting bulls to remain in control after a 2-week hiatus. Market remains to be risk-on mode despite last day of fiscal stimulus by the US on July 31. Could it be because investors believe that Democrats and Republicans will be able to cut a deal and extend stimulus until January 2021?
Meanwhile, bears seem to be weak with its COVID-19 story. Increasing cases seem to be a discounted issue for the market. Second-wave story might be a thing 3 more months from now.
So for the meantime, let money rule the world and risk remains the name of the game.
AUDJPY Long: Entry 74.20-73.80, SL 73.2, TP 75.6
Trader H
TraderH is a foreign currencies trader and a former Certified Securities Representative in the Philippine equities market. All posts herein are personal views and are not endorsed by any organization whatsoever. It is important that you practice due diligence in your trade plans. This website and its authors will not be held responsible nor liable to any of the reader's losses.