On June 15, I wrote an IMT (unpaid part of this website), pointing out to the 40-month cycle in USDJPY, implying that USDJPY has already seen the peak. Since then, the pair has fallen by more than 400 pips in at least three occasions. Yes, it has also rebounded few times, but selling the bounce has proven more rewarding than buying the dips. Here is the JUNE 15 CHART. Some may say the problem with such long-term cyclical analysis is timing. That's where the role of momentum charts comes in to back up our Premium trades, which we use to confirm and update our central thesis with the rationale part of each trade. The addition of 1-2 per week videos for our Premium subscribers has been instrumental in fitting a lot of ideas & saving me writing. The last two Premium trades in USDJPY produced more than 200 pips each. Friday's market reversal comprised a crucial development to our central thesis. The next 3 weeks will witness a bloody battle bwteen bulls and bears. All of this will be broken down in this week's Premium trades, charts & videos. Good luck & be careful.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.