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pro4Xtrader

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There was no strong support confirming the end of the EURJPY downtrend. Currently we can see the bounce of the fib level that could be the key area for downtrend continuation. If that’s the case a huge move down in a very short time is something very realistic.

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CADJPY did break below the rising channel that could be a confirmation of a long term downtrend. I think this scenario has the right to live and could be developing over the coming months. Besides, if you look at all JPY pairs, they all have some sort of signals of a downtrend… well for me at least.

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Looks like CADJPY making higher highs and higher lows. At the same time it failed to break uptrend trendline (from current attempt) and cycles pointing to the next coming swing... potentially up to the previous strong resistance are at 103.75

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While GBPCAD broke above downtrend trendline, furhter rise should follow. But perhaps its not the best time to enter long trade since it is still in rage trading mode where move downt to double top first is quite likely.

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USOIL is in a strong uptrend that does not seem to be over yet. I’d expect a final swing up to 64 area. If it breaks above further extensions up might follow, if holds, correction should take place.

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    • Date : 21st August 2019. MACRO EVENTS & NEWS OF 21st August 2019. FX News Today * Wall Street suffered another bout of weakness inspired by declines in Treasury yields. * The USA500 lost near 0.8% after a late selloff, with the USA30 off 0.66%, ending the recent run of gains. * Stocks traded mixed in Asia, while European as well as US futures are posting slight gains ahead of today’s Fed minutes and Powell’s speech at the Jackson Hole symposium later in the week. * A drop in European rates spilled over to Treasuries, with the long end outperforming. That compressed the yield curve again, one of the main factors behind last Wednesday’s plunge on Wall Street. * The markets will remain focused on the Fed today with the release of the minutes from July 30, 31 FOMC with hopes for dovish signals. Nearly 70 bps in easing is expected over the rest of the year. * Top negotiators from Japan and the US will meet this week to try and narrow the gaps in ongoing trade talks, but hopes that there will be substantial progress on the key issues agriculture and automobiles seem to be fading. * Italian BTPs outperformed yesterday on hopes that new elections can be avoided and that an alternative coalition government can be found to bring at least the 2020 budget underway helped to underpin Italian assets on Tuesday and at least so far there is no sign of contagion risks. * Germany meanwhile will sell its first 30-year Bund with a zero coupon, and yields in today’s auction could turn negative for the first time. * The AUD remained underpinned by upbeat comments from the RBA on the growth outlook in yesterday’s minutes. * The WTI future is trading at USD 56.36 per barrel. 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As slack in the economy is absorbed and these temporary effects wane, inflation is expected to return sustainably to 2 percent by mid-2020. * FOMC Minutes (USD, GMT 18:00) – The FOMC minutes, similar to the ECB Reports, provide an assessment as regards the views of the Fed’s policymakers about the interest-setter’s future stance and are usually a cause for FX turbulence. Support and Resistance levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. 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    • Trade is developing. I'm off to bed.  
    • UJ was also closed out at -1R. something to add to the next round of trades: do not have 2 trades against the same pair. 
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