European Open Market Update It’s a quiet start to the trading | Legit 📑Doubler 💵 Platform
European Open Market Update
It’s a quiet start to the trading day as moves across the market remain in tight ranges. The dollar is a tad lower today and is injecting some strength into the rest of the majors as NZDUSD bounces off near term support around 0.71500, USDCAD down towards 1.27300, EURUSD bouncing off 1.21500 -flip zone going back to early December and the Cable now north of 1.355.
The overall mood in the market tending towards positive; although the equities are mostly flat but the high betas are heading higher while pressuring the safe havens; Oil prices are also slightly supported and Gold is taking a breather thanks to the dollar weakness.
The strength in the Aussie and weakness in the JPY could be interesting to look at in the session ahead with AUDJPY now retesting the support and resistance level going back to 6th of Jan around 80.500 -a break above and retest could provide opportunity to the upside. Take note of the overall sentiment as a souring in the sentiment which could be evident in falling equities and rising safe havens could change this bias.
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