Analytics

News, Trends, and Analytics 20.08.2019

The ECB might take steps to boost economic growth

Traders will be focused on the Brexit message, Iran’s lack of interest in the dialogue, and low inflation in the EU.

 

News

British Prime Minister Boris Johnson will meet French and German leaders for Brexit talks at G7 summit. Affects the GBP


Iran’s Foreign Minister Mohammad Javad Zarif said the country is not interested in talks with Washington. Affects gold


Saudi oil facilities were attacked by drones. Affects Brent


Estonian central bank governor Madis Muller said US inflation is far from their target of 2%. Affects the EUR


Japan’s exports have been declining for the eighth month in a row. Affects Nikkei 225

 

Technical analysis

EUR/USD

The EU released a report on inflation yesterday. Its level was 1%. Against this background, the Governor of the Central Bank of Estonia, Madis Muller, said the economy might need additional incentives. Traders may take it as a hint at a rate cut.

Meanwhile, traders may also play the uptrend, as Friday’s afternoon candlestick “Pin bar” is a strong reversal pattern.

https://lh5.googleusercontent.com/f4-WkmedUYBmqTbwDttQ7CM6MLdVsDD3AZJ5lwRYyWvDboQJge85gAnN7NSINgbIIyPDKXYWe5YggE63MHgNXPPHoIRmgLNWEaXeVyUPzA-VlRlblI_bJTFnwgk51V1WQGRfXE64

USD/RUB

The pair may continue the trend up until it reaches 68.00, which is the upper limit of the channel.

https://lh5.googleusercontent.com/bQNTzKb2Hz7fg5UiH2KFfRGk3Ks9k6YwHg3jA_tO6RoOeoyVhCy6ttODia4RbEWizXPdEYNUK4E9TbKOhSbkDLiweTfTsPriX2fuy7cZsWizQeBvJ16EXDCSgI4qW7eYhbZ-yg5-

Dow Jones

The chart may get under pressure at 26400, which is a horizontal technical level.

https://lh3.googleusercontent.com/bZmFWZw2cUmfSL0B49KpBogBCSgukIXF2K21WevB2vuMAXhDNLnR6YRwAE6msZdtEXv8r-2b_4buTIfSV_o0_KqCXnfZznsAJ2YB7OsTupbcx7cQ9-aYpvlPmVKohSEmP2uJ7eLG

 

EUR/USD on this day in history

  • Since 2000 August 20th has been a trading day 14 times.
  • On 43% of those days, the asset ended with growth.
  • The maximum reinforcement range was 1.11%.
  • The trend down was limited to 0.8%.
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