GBPCHF already reached to the bottom. And we can see technically the formation of bullish harmonic pattern. Looks like BOE rate cut decision helped the pound to gain some ground however the parity dropped after Trump canceled all flights from Europe to USA. However I find this coronavirus pandemic effect as a hype and it reminds me 2018 Sep-Oct moevements in the...
GBPUSD gave back all the gains with the effect of coronavirus. However we still have a big room for recovery. Fundamentally GBP is still supported and BOE made it clear that they will keep supporting the economy with different stimulus package. On the other hand Fed is still not done with interest rates as they can keep cutting rates further in order to stimulate...
Like other commodities Wheat dropped down more than 15% becasue of coronavirus effect. By statistics the March-May is a bullish period for Wheat futures. Meantime humankind demand for wheat definitely will not drop, as we need to eat even when it is phandemic. On the other hand the supply issues due to coronavirus can boost the price as well. The price range...
BOE followed FED by cutting rates. However the decision didn`t impact pound strongly. Cheaper pound still interesting for long traders. As BOJ is ready with new stimulus package which can be announced in comind days. Meantime BOJ made it clear that they are not happy with overvauled Yen and ready to speculate the markets soon to stabilize the price. From Brexit...
ECB is ready to intervene the market by cutting deposit rates by Thursday meeting. However with 0% credit rate EUR has no a lot of things to lose. Meantime the decline in US10Y can take it to zero which makes more pressure on FED. It is more likely that FED will cut rates further by pushing the USD lower. So the increase of undervauled EUR against overvalued USD...
