AUD/USD rises towards 0.7150 on Aussie Retail Sales, risk-on mood

AUD/USD rises towards 0.7150 on Aussie Retail Sales, risk-on mood

AUD/USD is advancing above 0.7100 after the Australian April Retail Sales data matched expectations with 0.9%. The pair capitalizes on the ongoing US dollar downward correction amid risk-on trading on global markets. US PCE inflation awaited. 

AUD/USD News

EUR/USD recaptures 1.0750 as USD wilts ahead of US PCE Inflation

EUR/USD recaptures 1.0750 as USD wilts ahead of US PCE Inflation

EUR/USD remains strongly bid near weekly highs above 1.0750 amid notable US dollar supply and risk-on flows. Shrinking Fed vs. ECB divergence appears the key catalyst to recall bulls, US PCE inflation eyed. 

EUR/USD News

Gold bulls pile in as the US dollar melts

Gold bulls pile in as the US dollar melts

The gold price pared some early losses overnight as investors continued to move out of the US dollar making it cheaper to buy the safe-haven precious metal. XAU/USD is a touch higher in Asis, as it moves in for a fresh high on the day.

Gold News

Why you should capitalize on this 60% upswing in Solana price

Why you should capitalize on this 60% upswing in Solana price

Solana price shows an interesting divergence on the high time frame chart that could kick-start a much needed swing rally. Therefore, investors need to pay close attention to SOL, which could allow patient buyers to capitalize on this opportunity.

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Peak Fed hawkishness: USD running out of steam

Peak Fed hawkishness: USD running out of steam

Equities are rallying again today as speculation around peak Fed hawkishness from Wednesday's FOMC minutes and the potential for China's zero-Covid policies easing keep sentiment afloat. But one must wonder whether we are back to 'bad news is good news" for the equity markets.

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DEEPER DIVE

Dollar weakness stands on two vulnerable legs, Fed fear set to trigger greenback comeback Premium

Dollar weakness stands on two vulnerable legs, Fed fear set to trigger greenback comeback

Shanghai's "freedom day" and JP Morgan's optimism have sparked a relief rally, adverse for the dollar. US data and tough Fed talk on inflation could trigger fresh demand for the greenback. 

Where is the bottom for EUR/USD and GBP/USD? Four factors traders need to consider Premium

Where is the bottom for EUR/USD and GBP/USD? Four factors traders need to consider

EUR/USD and GBP/USD are set to extend their declines – and for good reasons. Where is the bottom? The low point for these currency pairs heavily depends on the Fed and the main question is: when will the dollar reach a top?

Three oversold cryptos that could double your portfolio

Three oversold cryptos that could double your portfolio

A brief technical and on-chain analysis on a few cryptos. Which are the massively oversold coins at this moment? How you could benefit from the crypto bloodbath? Here, FXStreet’s analysts evaluate where some of the hottest cryptos on the market could go next.

FXS Signals

Technical Confluences Detector

Dhwani Mehta

Gold Price is feeling the pull of gravity after less hawkish FOMC minutes released on Wednesday offered a brief reprieve to XAU bulls. The bright metal is extending the retreat from two-week highs of $1,870, as the US dollar clings onto minor recovery gains amid a cautious risk environment. The precious metal, however, seems to find some comfort from falling Treasury yields, as investors digest the latest Fed minutes, which squashed hopes for a more than 50 bps rate hike in the coming months.

Gold Price: Key levels to watch

The Technical Confluences Detector shows that the Gold Price is facing a wall of powerful resistance levels, as it attempts a minor comeback.

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CRYPTOCURRENCIES

ApeCoin continues to fall as bears aim for $5.00

ApeCoin continues to fall as bears aim for $5.00

ApeCoin exhibits full bearish control. A drop towards the $5.00 target is a high probability occurrence in the near future. ApeCoin price is still following the macro technicals forecasting a $2.00 target. Invalidation of the bearish thesis is a breach above $13.50.

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Why Binance Coin price could wipe out all gains made this month

Why Binance Coin price could wipe out all gains made this month

Binance Coin price could be setting up for a plummet back to $217. Binance Coin price has breached the ascending parallel channel to start this Friday's trading session. This week, it was mentioned that the future for BNB price was highly dependent on the directional breakout from the channel.  

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Safemoon price has rallied 80% in a week, here’s what could happen next

Safemoon price has rallied 80% in a week, here’s what could happen next

Safemoon price has displayed impressive strength within the crypto market. There is no evidence at the current time suggesting an end to the current uptrend move. Safemoon price continues to follow the technicals predicted two weeks ago.

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Will Cardano price finally show its cards?

Will Cardano price finally show its cards?

ADA price is losing bearish momentum. Cardano price is preparing for a retest of $0.80. Still, jumping in early might be too risky. Traders should wait for confirmation signals. Cardano price is on intraday traders’ radar as the digital asset could be setting up for a large rally into $0.80.

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THE STOCK OF THE DAY

GGPI stock sets June 22 to approve Polestar merger

GGPI stock sets June 22 to approve Polestar merger

GGPI stock will likely trend on Thursday, but it has yet to be seen if that will result in a share price appreciation. While news such as a potential completion of the SPAC deal was once met with enthusiasm and a FOMO crowd rushing in, those stockmarket days are far removed from the current environment. The army of retail traders has been seriously hit by recent events and so does not wield the same power.

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WEEKLY FORECAST

EUR/USD: Interim bottom or dead cat bounce? Premium

EUR/USD: Interim bottom or dead cat bounce?

The EUR/USD closed the week with solid gains just below the 1.0600 level. The main reason behind the advance was the dollar’s broad weakness, despite the persistent risk-averse sentiment.

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GBP/USD: Will the recovery sustain above 21 DMA? Premium

GBP/USD: Will the recovery sustain above 21 DMA?

GBP/USD registered the first weekly gain in five weeks. Bulls were finally rescued, as GBP/USD stalled its four-week downtrend and rebounded firmly from two-year lows of 1.2155 reached a week ago.

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USD/JPY: Will the turn become a plunge? Premium

USD/JPY: Will the turn become a plunge?

After two months of unsurpassed weakness the Japanese yen has been lifted from its 20-year floor by a combination of economic, fundamental and technical factors that could herald a change in circumstances. 

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AUD/USD: Interim top confirmed, 0.7000 at risk Premium

AUD/USD: Interim top confirmed, 0.7000 at risk

The AUD/USD pair kept falling in the last few days, reaching a fresh multi-week low of 0.7263 on Friday, to close the trading week a handful of pips above it. 

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Bitcoin: The last rebound before capitulation

Bitcoin: The last rebound before capitulation

Bitcoin is showing bullish signs in the lower time frames, which can be taken advantage of by traders in the next couple of days. But looking at BTC from the higher time frames suggests that the bottom is not in yet.

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Gold: XAU/USD starts reacting to US yields but bulls remain hesitant Premium

Gold: XAU/USD starts reacting to US yields but bulls remain hesitant

Gold reversed its direction following a drop below $1,800 at the beginning of the week and ended up snapping a 4-week losing streak. Technical indicators suggest that XAU/USD could find it difficult to continue to push higher.

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