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Summary
We've brought in Navin Prithyani once again for a Open Webinar here at FXStreet. This is your chance to see him LIVE during this exclusive webinar on topic he is renowned for: Support and Resistance.
Here’s a message we received from Navin: "Support and resistance is a topic very commonly mentioned and used, but yet so misunderstood among most traders. During the webinar, I'm going to openly share the logic and the WHY behind support & resistance that explains exactly how it should be applied. This will be an FXStreet exclusive. We'll cover the logic and will be going into details like how to draw support and resistance properly and even a trading strategy using support and resistance."
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Editors’ Picks
AUD/USD dips below 0.6750 amid China worries-driven risk aversion
AUD/USD is losing ground below 0.6750 in the Asian session on Tuesday. The US Dollar rebounds alongside the USD/JPY pair, undermining the pair. China's economic concerns-driven risk-off mood also weighs on the higher-yielding Aussie. US Retail Sales data and Fedspeak eyed.
USD/JPY attracts some buyers above 158.00, investors await US Retail Sales data
USD/JPY trades on a stronger note around 158.30 on Tuesday during the early Asian trading hours. The uptick of the pair is bolstered by the modest rebound in US Dollar. Investors will take more cues from the US June Retail Sales and the speech from the Federal Reserve’s Adriana Kugler.
Gold price bulls retain control despite modest USD strength, risk-on environment
Gold price remains close to a nearly two-month top set on Monday amid rising Fed rate cut bets. Investors seem convinced that the Fed will begin its rate-cutting cycle at the September meeting. The risk-on mood, along with a modest US Dollar strength, might cap the upside for the XAU/USD.
Ethereum ETFs to launch next Tuesday. Here’s why ETH's price could be set to explode
Ethereum is up more than 7% on Monday following updates from Bloomberg analysts that the SEC would potentially greenlight spot ETH ETFs to launch next week Tuesday. The increased inflows across global Ethereum investment products also align with the new development.
Trading the week ahead
This week presents several high-probability opportunities to closely monitoring. The Canadian CPI print is one of the main events. The Bank of Canada has expressed concern about the impact of higher interest rates on mortgage holders, with about 50% yet to remortgage.