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Geopolitics and COVID-19 Put the EUR, Pound and the Greenback in Focus

For the EUR

It’s a relatively quiet day ahead on the economic calendar. Key stats include June wholesale inflation figures for Germany.

The stats are unlikely to have an impact on the EUR, however, as the markets look for updates from Brussels. EU Recovery Fund talks extended into the weekend but failed to result in an agreement. The EUR will likely come under pressure if progress is not made today.

At the time of writing, the EUR was down by 0.08% to $1.1419.

https://www.fxempire.com/news/article/geopolitics-and-covid-19-put-the-eur-pound-and-the-greenback-in-focus-661911



According to Trading Central (3rd party RIA) the EURUSD is long positions above 1.1280 with targets at 1.1565 & 1.1680 in extension.

Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10829162

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 1.1565
1€ 3,333.33€ 1,666.67€ 1,004.18
5€ 16,666.67€ 8,333.33€ 5,020.90
10€ 33,333.33€ 16,666.67€ 10,041.80
25€ 83,333.33€ 41,666.67€ 25,104.50
50€ 166,666.67€ 83,333.33€ 50,209.00

USD/JPY: Outlook remains mixed for the time being – UOB

According to FX Strategists at UOB Group, price action around USD/JPY remains inconclusive and is seen still navigating the 106.70/107.70 range in the next weeks.

Key Quotes

24-hour view: “Last Friday, we held the view that ‘there is room for USD to grind higher to 107.55’. However, USD traded in a quiet manner between 106.92 and 107.36. The outlook is mixed and USD could continue to “meander”, likely between 106.85 and 107.45.”

Next 1-3 weeks: “USD continues to trade in an ‘undecided’ manner and there is no change to our view from Wednesday (15 Jul, spot at 107.25). As highlighted, the outlook is mixed and USD could trade between 106.70 and 107.70 for a while. Overall, the recent lackluster price actions suggest USD is not likely to embark on a sustained directional move anytime soon.”

https://www.fxstreet.com/news/usd-jpy-outlook-remains-mixed-for-the-time-being-uob-202007200542

According to Trading Central (3rd party RIA) the USDJPY is short positions below 108.20 with targets at 106.00 & 104.50 in extension.

Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10829302

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 106.00
1€ 2,911.21€ 1,455.60€ 1,012.50
5€ 14,556.04€ 7,278.02€ 5,062.50
10€ 29,112.08€ 14,556.04€ 10,125.00
25€ 72,780.20€ 36,390.10€ 25,312.50
50€ 145,560.41€ 72,780.20€ 50,625.00

AUD/USD: Potential upside near-term

AUD/USD is expected to extend the upside bias in the next weeks, suggested FX Strategists at UOB Group.

Key Quotes

24-hour view: “Our expectation for AUD to “drift lower to 0.6950” did not materialize as it recovered after touching a low of 0.6967. The price action offers no fresh clues and AUD could continue to trade sideways for today, likely between 0.6970 and 0.7030.”

Next 1-3 weeks: “We indicated last Wednesday (15 Jul, spot at 0.6985) that ‘upward momentum is beginning to improve and if AUD closes above 0.7010, it could move to the June’s peak of 0.7067’. Since then, AUD appears to be struggling to maintain the build-up in momentum and there is no daily closing above 0.7010. Upward momentum has diminished considerably and while AUD could inch upwards, the 0.7067 high is likely out of reach for now. On the downside, a break of 0.6930 would indicate the current mild upward pressure has eased.”

https://www.fxstreet.com/news/aud-usd-potential-upside-near-term-uob-202007200523

According to Trading Central (3rd party RIA) the AUDUSD is long positions above 0.6890 with targets at 0.7040 & 0.7180 in extension.

Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10829168

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 0.7180
1€ 3,048.78€ 1,524.39€ 1,744.00
5€ 15,243.90€ 7,621.95€ 8,720.00
10€ 30,487.80€ 15,243.90€ 17,440.00
25€ 76,219.51€ 38,109.76€ 43,600.00
50€ 152,439.02€ 76,219.51€ 87,200.00