It is time to turn your EUR/USD position into long again

World-Signals Team World-Signals

In the mid of the week the trend is changed. EURUSD downward movement is over. It is time to sell Dollars and bet to Euro in the next days till the end of this week and the first half of next week. EURUSD in August and the first days of September is trading in the levels between 1.17 - 1.20.

World-Signals trading idea is to open long position from the current levels (1.1780-1.1810) with target at 1.1960.

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World-Signals Team

World-Signals

EUR/USD: US Dollar to remain pressured until uncertainty fog dissipates

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GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold: Volatility persists in commodity space

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Week ahead: US NFP and CPI data to shake Fed cut bets, Japan election looms

US NFP and CPI data awaited after Warsh’s nomination as Fed chief. Yen traders lock gaze on Sunday’s snap election. UK and Eurozone Q4 GDP data also on the agenda. China CPI and PPI could reveal more weakness in domestic demand.

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The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.