{"id":542,"date":"2020-04-20T09:25:07","date_gmt":"2020-04-20T09:25:07","guid":{"rendered":"https:\/\/blog.sevenstarfx.com\/?p=542"},"modified":"2020-04-20T11:37:13","modified_gmt":"2020-04-20T11:37:13","slug":"daily-market-outlook-20-february-2020-3","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-20-february-2020-3\/","title":{"rendered":"Daily Market Outlook, 20 April, 2020"},"content":{"rendered":"

EUR\/USD Intraday:<\/span><\/strong> Support at 1.09078<\/p>\n

Our pivot point is at 1.08400<\/strong><\/p>\n

Preferable Price Action<\/strong>: Take long positions above pivot level with targets at 1.09078 & 1.09505 in extension.<\/p>\n

Alternative Price Action<\/strong>: Below pivot looks for further downside at 1.07803 & 1.07393.<\/p>\n

Comment: <\/strong>Pair bounce back from their previous support level<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

GBP\/USD Intraday:<\/span><\/strong> Resistance at 1.25157<\/h3>\n

Our pivot point is at 1.25157<\/strong><\/p>\n

Preferable Price Action<\/strong>: Short positions below pivot with targets at 1.24200 & 1.23742 in extension.<\/p>\n

Alternative Price Action<\/strong>: Price above pivot would call for further upside to 1.26077 and 1.26522.<\/p>\n

Comment<\/strong>: The RSI indicator below the 50-level mark and pair below its 55MA & 20MA<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

JPY\/USD Intraday:<\/span><\/strong> Resistance at 108.050<\/h3>\n

Our pivot point is at 108.050<\/strong><\/p>\n

Preferable Price Action:<\/strong> Short position below 108.050 with the target at 107.250 and 106.816 in extension<\/p>\n

Alternative Price Action<\/strong>: The upside breakout of pivot would call for 108.837 and 109.255.<\/p>\n

Comment<\/strong>: Pair above its 20MA and 55MA and MACD in positive territory.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

AUD\/USD Intraday:\u00a0 <\/span>Uptrend continues<\/strong><\/h3>\n

Our pivot point is at 0.63250<\/strong><\/p>\n

Preferable Price Action<\/strong>: Long positions above pivot with targets at 0.64100 & 0.64545 in extension.<\/p>\n

Alternative Price Action<\/strong>: Below pivot looks for further downside with 0.62448 & 0.62000 as targets.<\/p>\n

Comment<\/strong>: pair below its 55MA & 20MA and RSI at oversold level.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

CRUDEOIL Intraday:<\/span><\/strong> Downtrend continues<\/h3>\n

Our pivot point is at 24.65<\/strong><\/p>\n

Preferable Price Action<\/strong>: Sell below pivot with targets at 22.70 and 21.62 in extension.<\/p>\n

Alternative Price Action<\/strong>: Above pivots buy Oil with 26.63 & 27.65 as targets.<\/p>\n

Comment<\/strong>: Pair above its 55MA & below its 20MA and MACD in positive territory.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

XAU\/USD Intraday:<\/span><\/strong> Trend Upside Continues<\/h3>\n

Our pivot point is at 1663.00<\/strong><\/p>\n

Preferable Price Action<\/strong>: Further upside to 1690.28 & 1705.64.<\/p>\n

Alternative Price Action<\/strong>: If price gives downside breakout of a pivot, then price extends to 1638.76 and 1623.39.<\/p>\n

Comment<\/strong>: Gold tops $1,600 for the first time since 2013 as coronavirus fears spur haven demand<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

Dow jones Intraday: <\/span>May Trend change<\/strong><\/h3>\n

Our pivot point is at 24285.00<\/strong><\/p>\n

Preferable Price Action<\/strong>: Take Short positions below pivot with targets at 23640.00 & 23204.48\u00a0in extension.<\/p>\n

Alternative Price Action<\/strong>: Above 24285.00 looks for further upside to 24871.02 & 25288.90.<\/p>\n

Comment<\/strong>: Pair is trading below its 20MA & 55MA and RSI at 50 levels.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n","protected":false},"excerpt":{"rendered":"

EUR\/USD Intraday: Support at 1.09078 Our pivot point is at 1.08400 Preferable Price Action: Take long positions above pivot level with targets at 1.09078 & 1.09505 in extension. Alternative Price… <\/p>\n","protected":false},"author":2,"featured_media":310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[47,45,21,41,3,35,44,31,40,46],"yoast_head":"\nDaily Market Outlook, 20 April, 2020 | Seven Star FX<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-20-february-2020-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Market Outlook, 20 April, 2020 | Seven Star FX\" \/>\n<meta property=\"og:description\" content=\"EUR\/USD Intraday: Support at 1.09078 Our pivot point is at 1.08400 Preferable Price Action: Take long positions above pivot level with targets at 1.09078 & 1.09505 in extension. 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