Good morning! Hope all is well. Yesterday’s forecast was on the border with approximately 4 pairs out of the 7 moving in the directions that we had predicted and then markets turned around (EURUSD, GBPUSD, USDCAD and USDCHF). USDCAD was pretty close where markets came very very close to our supply area and took off south. The discrepancy was due to US Dollar strengthening instead of weakening as we had thought. Today the pairs to keep an eye out on would be Euro, Canadian and US Dollar currency pairs due to our fundamental watch. We could be in for both a weak US Dollar and a Japanese Yen. Adding two hedged pairs to offset the trading risk. Happy Trading!
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.36290 and 1.36595.
Fundamental Watch
- German Ifo Business Climate
- Core CPI m/m
- New Home Sales
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Editors’ Picks
EUR/USD remains offered and below 1.1300
EUR/USD is feeling the squeeze, revisiting the area around 1.1280 as the US Dollar gains extra momentum on Tuesday. Mixed domestic data from Industrial Production and Economic Sentiment haven't done the Euro any favours either.
GBP/USD keeps the bullish stance in the low-1.3200s
After hitting fresh six-month peaks near 1.3250, GBP/USD is now under a tepid selling pressure due to a strong comeback in the Greenback, causing it to retreat toward the 1.3200 support area. Next on the UK docket are inflation figures, expected to be released on Wednesday.
Gold embarks on a consolidative move around $3,200
Gold is holding its own on Tuesday, trading just above $3,200 per troy ounce as it bounces back from earlier losses. While a more upbeat risk sentiment is bolstering the rebound, lingering concerns over a deepening global trade rift have prevented XAU/USD from rallying too aggressively.
XRP, Dogecoin and Mantra traders punished for bullish bets, will altcoins recover?
Altcoins are recovering on Tuesday as the dust settles on US President Donald Trump’s tariff announcements last week. The President has repeatedly changed his mind on several tariff-related concerns, ushering volatility in Bitcoin and altcoin prices.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
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