US dollar is leaping

[Focus on today] Monday, May 25, 2020

 

(British and American stock markets are closed, and some contract transactions under CME and ICE close early)

① 14:00 The final value of Germany ’s unseasonally adjusted annual rate of GDP in the first quarter

② 16:00 German IFO Business Climate Index in May

③ 03:00 Bank of Canada Governor Poloz delivered a speech

Fundamentals:

 

[U.S. clinical trials show that Radecivir does not significantly reduce the mortality rate of new coronary disease] A Ridesivir targeting 1063 patients led by the National Institute of Allergy and Infectious Diseases (NIAID) under the National Institutes of Health (NIH) Preliminary results of the double-blind, randomized, placebo-controlled multicenter clinical trial ACCT-1 showed that although the study results showed that the patients in the reduxil treatment group recovered faster, there was no significant effect in reducing the mortality rate.

 

[The minutes of the European Central Bank meeting imply that the scale of emergency debt purchases may be expanded in June]

The minutes of the monetary policy meeting announced by the European Central Bank on the 22nd show that at the monetary policy meeting on June 4, the ECB Council will evaluate information including the latest macroeconomic forecast to determine whether the stimulus scale is sufficient. If it is less than necessary, the ECB is ready to adjust the emergency debt purchase plan and other policy tools.

 

[Japan is about to lift the state of emergency and restart social and economic activities]

According to the policy formulated by the Japanese government on May 24, the “emergency declaration” will not expire at the end of this month. On May 25, the state of emergency in Tokyo, Kanagawa, Saitama, Chiba, and 1 capital, 3 counties and Hokkaido will be lifted . This matter will be finalized at the New Coronary Pneumonia Government Countermeasure Headquarters meeting on May 25.

 

[The G7 summit may be postponed until late June]

US National Security Advisor Robert O’Brien said on May 24 that the G7 summit may be postponed from mid-June to late June. O’Brien believes that Washington DC is about to reach the peak of the epidemic. If circumstances permit, it will focus on holding the G7 summit in Washington DC at the end of June.

 

[The government work report does not propose a target for global economic growth]

The government work report released last Friday did not propose specific targets for the annual economic growth rate, mainly because the global epidemic situation and the uncertain economic and trade situation are very large. In doing so, it is helpful to guide all parties to concentrate on “six stability” and “six guarantees”.

Technical side:

XAUUSD:

(Golden 1H chart)

From the golden daily line, the rally is subject to the 5 antenna. The 1-hour chart is in a descending wedge-shaped channel. The reverse wedge is short above the wedge and the lower wedge is below.

Pressure level: 1733

Support levels: 1718, 1712

Operation strategy: shorting near 1733, target 1715 ~ 1720, stop loss 1738

EURUSD:

(EURUSD 1H chart)

From the daily view of the euro against the dollar , the upper side was backpressured by 5 days and 60 antennas. The 1-hour chart is short, and there are new lows.

Pressure level: 1.0910

Support level: 1.0855

Operation strategy: shorting near 1.0907, target 1.0860, stop loss 1.0937

GBPUSD:

(GBPUSD 1H chart)

Looking at the GBPUSD daily line, the moving averages are short, and the 1-hour chart is suppressed by the center, and the short selling is reversed.

Pressure level: 1.2210

Support level: 1.2120

Operating strategy: Short selling near 1.2205, target 1.2120, stop loss 1.2245

USDJPY:

(USDJPY 1H chart)

Judging from the USD / JPY daily line, the price gradually stabilized at 60 antennas, and was supported by the upward trend line for 1 hour.

Pressure level: 108.3

Support level: 107.5

Operation strategy: Go long near 107.55, target 108.3, stop loss 107.25

UKOIL:

(UKOIL 1H chart)

From the 4-hour chart of cloth oil, the market is still relatively strong, maintaining the upward trend line, such as the second step back on the line can continue to do more.

Pressure level: 36

Support level: 33.8

Operation strategy: go long near 34, target 35.9, stop loss 33.5.

*************** Notes for trading **************

1. Follow the trend and keep in mind of risk control

2. Entry can be added or minused by 5 pips, exit can be added or minused by 5 points

3. It is recommended to take half of the profit after 50 pips of profit, and the rest position with stop loss of entry.

4. Orders that arrive at the entry point before 12 pm are valid, and subsequent orders are invalid. (Unless specified)

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(The above personal strategy is written based on the objective and independent principles. It is for reference only and does not represent any direct operational advice to investors. Investors will be responsible for the profits and losses of the market.

 

MYFXSchool Analyst: Michael

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