UK EURO Season, two are on, deny on US stimulus

 (Source: https://markets.businessinside...)

US stock market fall. SP 500 fall 0.22% at 3435.56.NASDAQ drop 0.11% at 11665.37。Dow loss0.22%于3435.56；Dows saw a 0.35% decrease at 28210.82.

EURO market fall harder. DAX drop 1.41% at 12557.64 while FTSE decreased 1.91% at 5776.5.

China Stock Market reconsolidated. Shanghai Stock Index dropped 0.09%, SZSE Component index and GEM index saw 1% and 1.46% decrease prospectively.

Crude oil forward contracts:

WTIand Brent Crude oil drop significantly 2.73% to $40.1 per barrel.

Brent oil drop 2.5% at $41.7 per barrel.

Precious metal forward contracts:

While USDX dropped, gold price climbed day high at $1931 per ounce and closed up 0.91% at 1924.456 per ounce.

Currency Pairs：

USDX：closed down 92.62      -0.430%

EUR/USD：closed up 1.18586 -0.312%

GBP/USD：closed up 1.31403 -1.496%

AUD/USD:  closed up 0.71109       -0.884%

NZD/USD：closed up 0.66494 -1.081%

USD/CAD：closed up 1.31368 -0.098%

USD/JPY：closed down 104.535     -0.902%

Global Fundamental

US

Both Pelosi and Republicans reject Trump's latest stimulus plan. Ms Pelosi said she was still hopeful that progress could be made toward a deal but it's as clear as ever that GOP conservatives don't want a deal on her terms.[i]

FED published TheBeigeBook showingUS economy is recovery and growth is warm and solid.[ii]

EURO

Brexit talks set to restart and both EURO and UK aim todeal by mid-November.[iii]

Oil：

EIA reported that last week oil production was 9.9 million barrels per day decreased by 0.6 million barrels per day. Last four weeks supply is 18.345 million barrels per day , 12.9% less comparing to the same time last year.[iv]

CurrencyPairs

EUR/USD&GBP/USD

Yesterday, big booms hit the market: EURO and UK set new time frame for negotiation while first version of stimulus plan was denied. [v]EUR and GBP completed two jumps. EUR hit mid-term resist at 1.178 and now the price deviates from both EMA while KD value is above 80. As for intraday layout resist is around 1.19 and support is around 1.183. The case for GBP is more extreme—price is standing above 1.3 with both EMA value deviating further. As for KD indicator, K value is around 80 while D is heading top. Support is around 1.32 while resist is around 1.3 .

AUD/USD

AUD price fluctuated with normal daily range with 1.2 derivation comparing to last week data. Now K value is heading back mid range while D value is sitting in mid. As for short term layout, price is supported at 0.706 and resisted at 0.715. 

XAU/USD

Gold price went strong while USDX went down. Price now is around $1920. D value is heading up while K is around 20. Price is above both of moving averages and deviating from them. Up resist is around 1910 while support is around 1930.

USDX

USDX has dropped three days. Associated with US fundamental , price now is consolidating around 92.8 after test it as resist. As for KD， K value is around 20 but heading up while D is heading up from 20. Price is still facing resist below both of moving average with support around 92.6 and resist around 93.

[i]AFR (2020),

Both Pelosi and Republicans reject Trump's latest stimulus plan

https://www.afr.com/world/nort...

[ii]Federalreserve（2020）

TheBeigeBook

https://www.federalreserve.gov...

[iii]Bloombery (2020),

Brexit Talks Set to Restart With Aim of Deal by Mid-November

https://www.bloomberg.com/news...

[iv] EIA (2020),

Prime Supplier Report

https://www.eia.gov/petroleum/...

[v]AFR (2020),

Both Pelosi and Republicans reject Trump's latest stimulus plan

https://www.afr.com/world/nort...

Bloombery (2020),

Brexit Talks Set to Restart With Aim of Deal by Mid-November

https://www.bloomberg.com/news...