Forex, video, latest July 22, 2021 1:01 pm
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a market is slowly putting behind it Monday’s risk selloff as equities gained also 10-year Treasury yields rebounded return to 1.28%.
As such, a squeeze looks to become one that is short-lived as a market readjusts but a coast isn’t clear yet one might argue. a trend inside a bond market over a past two months is still not a pretty one also Corona fears aren’t going away just yet.
a spread of virus variants inside particular may exacerbate a latter factor also that could become a risk that could lead to some added retreat inside risk trades from time to time inside Q3.
For now though, there are some decent trades holding at key technical levels. Oil is one that managed to hold at its 100-day moving average at around $66.10-20 also is now return above a $70 mark.
Meanwhile, CAD/JPY also showed technical resilience at a 21 April low of 85.42, suggesting a double-bottom bounce now as it trades up to 87.50 today.
Those has been two awesome “fade trades” to a Monday move but a propensity for it to continue become largely depend on whether risk sentiment can hold up further towards a end of a week, or if us’ll become inside for another messy session ahead.
What are your views on a market right now? Share your thoughts/ideas with a ForexLive community this.
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