News, Trends, & Analytics 25.09.2020

Today, the focus is on recommendations for the purchase of Goldman Sachs, a program to support jobs in the UK, as well as the first steps towards regulation of cryptocurrencies in the EU.

 

Calendar

12:30 UTC

A report on basic US durable goods orders for August will be released. Forecast: 1.2%. Downward bias in real data may lead to a weakening of the US dollar.

Assets to trade: USD/CHF, EUR/USD

 

News

In the United States, there was an increase in the number of initial applications for unemployment benefits. Affects USD


UK Treasury Secretary Rishi Sunak has unveiled a new job support program. Affects GBP


The European Commission has announced the first steps to regulate the cryptocurrency market. Affects Bitcoin


Investment bank UBS recommends buying Goldman Sachs. Affects Goldman Sachs


Morgan Stanley raised its target price for Alphabet (Google) shares to $1,800. Affects Google

 

Technical Analysis

Bitcoin

The European Commission has published a 168-page document in which proposals were put forward on the regulation of the cryptocurrency market in the EU. Particular attention was paid to the security and reliability of stablecoins, which are pegged to fiat currencies. The news may have a positive effect on the price dynamics of cryptocurrencies.

From the point of view of technical analysis, bitcoin has every chance of continuing to grow as long as the chart is above the previously broken resistance level of 10000.

AUD/CHF

The asset reached the support level of 0.65000, which creates preconditions for the growth of quotations.

USD/JPY

The currency pair may continue to rise to 105.800, after which a return to the bearish trend is likely.

 

USD/JPY on this day in history

  • Since 2000, September 25th has been a trading day 14 times.
  • On 21% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.42%.
  • The downward trend was limited to 1.36%.

Risk warning:

The information provided does not constitute a recommendation to carry out transactions. When using this information, you are solely responsible for your decisions and assume all risks associated with the financial result of such transactions.

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