RealTraderCommunity Blog > Analysis and Insight > Status quo ahead of G20 in Argentina

Status quo ahead of G20 in Argentina

The euro is still stuck around offers above 1.1380. Traders should still watch out for runs on buy stops around 1.1430 but looking at the way price action is stalling, EURUSD is more likely to retrace back to 1.1325 and then 1.1290.

Cable went back down below the earlier 1.2815 pivot to range tightly below 1.2785.

Market players we’re close to have no near-term bias either way, so watch out for buy stops at 1.2815 (as usual). We expect bids around 1.2750 to hold and keep the pound in range ahead of the weekend.

There’s no change for the Aussie today. It’s still dealing 73.10 capped by offers at the 25 level. Depending on the outcome of G20 meetings in the weekend in Argentina, look out for further developments on the Sino-US trade front, but we think AUDUSD will just re-test 72.70 on the downside.

USDJPY is still testing support at 113.30-40. G20 meetings not withstanding, we still expect the dollar to test 112.90 yen.

We wish you a good weekend!

#TradeAtYourOwnRisk but trade with #Mocaz and #RealTraderCommunity.

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