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The IX USD sentiment index gives a 68% bullish reading despite the widening of yields divergence
EUR/USD was seen breaking out key resistance level of 1.1733 on Thursday amidst of improving risk appetite and broad-based dollar weakness. The bullish sentiment carried into Friday as the single currency soared to 3-month highs of 1.1785. Looking ahead, EUR/USD could overtake the 1.18 if the EU PMI numbers, scheduled for release later today, were to beat estimates.
On the technical side, EUR/USD is now trading closer to the daily resistance level of around 1.1800. On the 1H chart, 1.1740 is a major support level.
On the Price-sentiment correlation chart, the sentiment around EUR/USD remains bullish. Daily news sentiment continues to move higher and in 70% of the previous 10 occurrences, price has risen within 7 days
The IX GBP sentiment index gives a strong 82% bullish reading amidst of Brexit hopes
GBP/USD was seen testing the 1.33 handle on Thursday after UK retail sales surprised the upside in the month of August at 0.3%, beating off market consensus of -0.2%. The cable since retracted following news that the UK and EU were unable to agree on a compromise on key issue such as the “Irish border”. In the absence of key macroeconomic news, positive news from the ongoing Brexit negotiation could extend its recent bullish sentiment and test the 1.33 handle again.
On the technical side, the cable was rejected at its daily resistance level of 1.3300, with key support level at 1.2880.
The asset performance chart indicated that the British Pound has risen against its main peers, further confirming that the bullish sentiment remains intact despite the Brexit stalemate.
The IX CHF Index gives a strong 85% bullish reading after Wall Street hits new millstone
Global stocks extend their gains on Friday after both Dow and S&P 500 reached all-time highs. The gains came as investors looked past international trade tensions and turned their focus on strong US fundamentals; strong corporate earnings and robust US economy.
On the technical side, at the time of writing, the DOW30 is trading at its all-time high of 26775, with key daily support level well below at 26000.
The new milestones in Wall Street have caught much attention among market participants as the news interest table shows a surge of 276% in daily coverage of Dow30.
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