EUR/USD, “Euro vs US Dollar”
EUR/USD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0880 is expected, followed by a decline to 1.0665. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0965, which will indicate further growth to 1.1055.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is testing the support level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud is expected at 1.3495, followed by a rise to 1.3715. The growth can be additionally confirmed by a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing below 1.3430, which will indicate a further decline to 1.3340.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is correcting within a descending channel. The instrument is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the resistance level at 0.5980 is expected, followed by a decline to 0.5805. A signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 0.6030, which will mean further growth to 0.6125. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price securing below 0.5905.
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EUR/USD remains heavy below 1.0550 as focus shifts to US ISM PMI
EUR/USD remians under heavy selling pressure below 1.0550 in early European session on Monday. The pair is dragged down by dovish ECB-speak and a firmer US Dollar following Trump tariffs threat on BRICS-fuelled flight to safety. Investors now look forward to US ISM Manufacturing PMI data due later in the day.
GBP/USD holds losses near 1.2700 on stronger US Dollar
GBP/USD consolidates losses near 1.2700 early Monday, reversing a major part of Friday's positive move. The slide is sponsored by a goodish pickup in the haven demand for the US Dollar, as traders remain wary over the latest Trump tariffs threat on BRICS nations. US ISM PMI is next in focus.
Gold price remains heavily offered amid renewed USD buying interest
Gold price meets with heavy supply on Monday and snaps a four-day winning streak. Rebounding US bond yields help revive the USD demand and weigh on the commodity. Trade war concerns and geopolitical risks do little to lend support to the XAU/USD.
Bitcoin consolidates while ETH, XRP rallies
Bitcoin consolidated on Monday following its recovery from last week's pullback. At the same time, Ethereum and Ripple extended their rallies, driven by investors reallocating capital from BTC to altcoins, signaling the potential for continued upward momentum.
Eurozone PMI sounds the alarm about growth once more
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