News

Trade ideas thread – European session 21 July 2021

Daily thread to exchange ideas and to share your thoughts

After a tumultuous start to the week, the market is settling down as we see a bit more of a flattish and tepid tone going into European trading today.

The rebound in stocks and yields yesterday helped to relieve some of Monday’s suffering but overall sentiment remains cautious and relatively fragile.

10-year Treasury yields are at 1.215% but there is still an air of uncertainty surrounding the nature of the unrelenting bid in bonds over the past few weeks.

The aussie and kiwi are treading waters at the year’s lows so that is still revealing some vulnerabilities among risk currencies, with the dollar keeping more resilient.

Meanwhile, cable is exposed to a steeper drop after falling below the double-bottom from the March and April lows, closing in on 1.3600 currently.

Elsewhere, oil managed to hold just above its 100-day moving average and trendline support yesterday so that perhaps makes a case for a technical rebound but failure to do so could result in a sharper drop towards the May lows @ $61.58-70 next.

That sort of flush may be “healthy” for longs to reload before the next leg higher comes along as we navigate through 2H 2021.

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.

Articles You May Like

Lesson 6: What is a spread in forex?
Nag Withdraw ako ng 21k Kita sa XM Forex Trading Instant Skrill to GCash
The BEST market structure trading strategy | FOREX TRADING
BEST FOREX TRADING STRATEGY { EXPOSED} – Trader Talk Ep 17
*BEST* Forex Phone Strategy! (Simple & Easy)

Leave a Reply

Your email address will not be published. Required fields are marked *