Good morning. Hope all is well! We seem to have had a 100% accuracy on our predicted directions for yesterday. Markets reacted to our supply demand zones as expected. Both Japanese Yen and the Greenback had gathered a little steam, however we had taken a neutral stance. British Pound & US Dollar pars are on our watch list for today due to fundamentals. Could be in for a strong US while the Yen may let out some steam. 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 1.13811 and 1.14113.
Fundamental Watch
– Average Earnings Index 3m/y
– Claimant Count Change
– Core Retail Sales m/m
– PPI m/m
– Retail Sales m/m
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Editors’ Picks
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
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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.