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Latest impact: USDCHF Mirror!
USDCHF wave was mirroring itself between Mon & Tue, exactly as the stock market – surprising many, including myself (since I am a believer that the stock market is rallying through false assumptions – printing money, rather than true fundamental data, i.e. another crisis is at the cliff). During Asia session, the pair broke the base of the mirror but lacked momentum, thus allowing the price to increase towards 9110, and 9135. We will buy the current price @9080 and will exit once a close below 9050 is triggered, using the 4hr chart.
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EUR/USD retreats to 1.0700 after US GDP data
EUR/USD came under modest bearish pressure and retreated to the 1.0700 area. Although the US data showed that the economy grew at a softer pace than expected in Q1, strong inflation-related details provided a boost to the USD.
GBP/USD declines below 1.2500 with first reaction to US data
GBP/USD declined below 1.2500 and erased a portion of its daily gains with the immediate reaction to the US GDP report. The US economy expanded at a softer pace than expected in Q1 but the price deflator jumped to 3.4% from 1.8%.
Gold falls below $2,330 as US yields push higher
Gold came under modest bearish pressure and declined below $2,330. The benchmark 10-year US Treasury bond yield is up more than 1% on the day after US GDP report, making it difficult for XAU/USD to extend its daily recovery.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.