$EURUSD
What ProAct Forex Target Traders See: We are currently sitting @ 1.1222 in a range. As long as USDX is shorting we are looking for a continuation move up to the 1.270 Fibo@ 1.1641 and then a correction. The break up would confirm a fifth wave in place. The average daily true range (ATR) for the pair currently is 86 pips.
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$USDJPY
What ProAct Forex Target Traders See: We are currently @ 106.39. We are looking to the S8 @ 105.82 with a bounce there and possible continuation to the 105.00 Psychological number. The average daily true range (ATR) for the pair currently is 122 pips.
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$GBPUSD
What ProAct Forex Target Traders See: Cable is currently @ 1.4126 and in a large range. A couple of different scenarios: 1: As long as USDX is shorting Bullish: a move to the 1.618 Fibo @ 1.4920 area and 2: Bearish: A break down to the 0.382 Fibo support @ 1.4255. The average daily true range (ATR) for the pair currently is 129 pips.
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$AUDUSD – A great smooth currency for Newbie’s!
What ProAct Forex Target Traders See: Aussie is @ 0.7604 and in a range. We are looking for a continuation move down to the bottom @ 0.7500. A possible bounce to be expected there. The average daily true range (ATR) for the pair currently is 95 pips.
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GBP/USD stays below 1.2450 after UK employment data
GBP/USD trades marginally lower on the day below 1.2450 in the early European session on Tuesday. The data from the UK showed that the ILO Unemployment Rate in February rose to 4.2% from 4%, weighing on Pound Sterling.
EUR/USD steadies above 1.0600, awaits German ZEW and Powell speech
EUR/USD is holding above 1.0600 in the European morning on Tuesday, having hit fresh five-month lows. The pair draws support from sluggish US Treasury bond yields but the rebound appears capped amid a stronger US Dollar and risk-aversion. Germany's ZEW survey and Powell awaited.
Gold price holds steady below $2,400 mark, bullish potential seems intact
Gold price oscillates in a narrow band on Tuesday and remains close to the all-time peak. The worsening Middle East crisis weighs on investors’ sentiment and benefits the metal. Reduced Fed rate cut bets lift the USD to a fresh YTD top and cap gains for the XAU/USD.
SOL primed for a breakout as it completes a rounding bottom pattern
Solana price has conformed to the broader market crash, following in the steps of Bitcoin price that remains in the red below the $65,000 threshold. For SOL, however, the sensational altcoin could have a big move in store.
Key economic and earnings releases to watch
The market’s focus may be on geopolitical issues at the start of this week, but there is a large amount of economic data and more earnings releases to digest in the coming days.