Global equities edged higher following the risk on sentiment from Chinese stimulus headlines. PBoC injected RMB 700bn ($101 bn) fresh stimulus measures in the world’s second-largest economy. Meanwhile The Vix volatility index, known as Wall Street’s fear gauge, has slid in August to 21, its lowest level since February, indicating lower levels of expected market volatility.
From the majors, euro trading at 52 weeks high after upbeat consensus on upcoming August PMIs data due to release on Friday this week. However With relative economic performance being an increasingly important factor for foreign exchange markets to consider, a beat or miss of consensus forecasts could influence direction in the Euro.
TREND : BULLISH
Time : 18/08/2020
Pivot : 1.1871
Technical View : LONG ABOVE 1.1891
Target : 1.1911, 1.1926, 1.1943, 1.1984
Technical View : SHORT BELOW 1.1851
Target : 1.1828, 1.1797, 1.1771