Today, the focus is on the interrogation of the Iranian president, the implementation of the national security law has begun in Hong Kong, and the second wave of COVID-19.
Iranian lawmakers may call on President Rouhani for interrogation – the media is talking about possible impeachment. Affects Brent
The Hong Kong court refused to release on bail the first person accused of violating the national security law. Affects Hang Seng
Due to the outbreak of COVID-19, strict quarantine measures have been introduced in several regions of Spain. Affects EUR
Boeing announced the cessation of production of the famous model 747-8, which has been operating for 50 years. Affects Boeing
The deal between Johnson & Johnson and Emergent BioSolutions Inc revalued from $135 million to $480 million. Affects Johnson & Johnson
The number of open job openings in the US job market from JOLTS will be published. The value of 4.850 million is forecasted. If the real data is lower, USD may decline.
The fact that the world will be shocked by the second wave of the COVID-19 pandemic is becoming a reality. However, after weakening quarantine measures, we see new outbreaks of disease. In Australia, the border between two states was closed, and in Spain, about 70 thousand citizens were put in strict quarantine.
Despite troubling news, the euro continues to strengthen. The base of the triple bottom figure has already been broken. The probable goal of the upward movement is 1.13500. It is worth noting that even fresh impulse growth did not force the RSI indicator to enter the overbought zone. The road up is open.
Please note that last week’s candlestick resembles the Doji pattern, which often indicates the completion of the current trend. For this reason, a bearish trend may begin.
The asset turned around from the resistance level of 79.60. A likely scenario is a decline in quotes to the nearest support line of 78.20.
CAD/JPY on this day in history
- Since 2000, July 7th has been a trading day 13 times.
- On 46% of those days, the asset finished trading with growth.
- The maximum strengthening range was 1.38%.
- The downward trend was limited to 1.09%.