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technical analysis

Equity markets are back in the green as risk appetite slowly takes hold. Progress on the US and China trade talks is keeping optimism alive.

China’s Vice Premier Liu He said that he will work with the United States to address each other’s concerns. Liu said that it was in the best interest of both parties to stop the escalation in the trade wars.

Euro Caps 4-day Winning Streak

The common currency closed on Friday, marking a four-day gain. The gains in the common currency came amid a weaker USD. Economic data continues to remain sparse from the eurozone.

On Friday, the current account data saw the surplus widening in August. The surplus rose to 27 billion euro, up from 22 billion from a month ago.

EURUSD Steady Towards 1.1177 Resistance

The currency pair’s strong bullish momentum is keeping it on track to test the resistance level of 1.1177. The currency pair will likely test this level and bounce off to the downside.

The bearish divergence on the Stochastics hints at a possible revers...


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