CommoditiesForexMarket Review

The COVID shock wave will take longer to hit the currency market

Simply put, the sudden halt in the economies and the flight of money from emerging markets will start to show the structural issues in the economy, take the USA for example that has just been dropped to 10th place in competitiveness after trade wars and COVID wreaked havoc on their trajectories both the US and China.

There is a sense of a weaker dollar to come with the threat of a collapsing dollar lingering, but we should acknowledge short term strength in the dollar as elections are creeping closer.

EURUSD: SELL

Our target is 1.1410 -> 1.1160

GBPUSD: SELL

Our target is 1.2320

USDCAD: BUY

Our target is 1.3710

GOLD: SELL

Our target is 1779.00 -> 1712.28


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