Good morning. Hope all is well. We seem to have had a good forecast for yesterday also with an 86% accuracy. Markets got rejected from most of our supply/demand zones. Both US Dollar and Japanese Yen were sidelined. Euro, New Zealand and US Dollar pairs are on our radar today on account of the fundamental watch. Both Japanese Yen and Euro could gather some steam through the day. Adding one hedged pair to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Strong
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.09609 and 1.09904.
Fundamental Watch
– Trade Balance
– German Ifo Business Climate
– Core Durable Goods Orders m/m
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Editors’ Picks
EUR/USD consolidates recovery gains above 1.0650
EUR/USD stays in a consolidation phase following Wednesday's rebound and trades in a narrow range above 1.0650. The improving risk mood doesn't allow the US Dollar to gather strength as markets await mid-tier data releases.
GBP/USD clings to moderate gains above 1.2450
GBP/USD is clinging to recovery gains above 1.2450 in European trading on Thursday. The pair stays supported by a sustained US Dollar weakness alongside retreating US Treasury bond yields. Fed policymakers will speak later in the day.
Gold shines amid fears of fresh escalation in Middle East tensions
Gold trades in positive territory near $2,380 on Thursday after posting losses on Wednesday. The precious metal holds gains amid fears over tensions in the Middle East further escalating, with Israel responding to Iran's attack over the weekend.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.