The AUD/USD pair extends the drop below the 0.69 handle and looks to test multi-month lows of 0.6863 after the Reserve Bank of Australia (RBA) Governor Lowe said that the central bank will consider a rate cut at the June monetary policy meeting.
The USD/JPY pair refreshes the daily tops and heads back towards two-week tops of 110.32 amid an improvement in the risk sentiment, as reflected by the advance in the S&P 500 futures. Markets cheer the recent shift in the US outlook towards China’s Huawei.
With the on-going geopolitical tension between the US and Iran continues to entertain energy buyers, WTI is taking the rounds near $63.40 during early Tuesday. Geopolitical tension between the US and Iran joins recent relief to China’s Huawei.
The European Union is holding its Parliamentary election next Sunday May 26th and the impact of this political event seems to be underpriced by currency markets.
The US Securities and Exchange Commission (the SEC) delayed the decision on the proposed launch of bitcoin-based ETF (exchange ...
ETH/USD went up from $252.25 to $253.50 in the early hours of Tuesday morning. The price is currently consolidating in a flag formation. On the upside ...
BTC/USD bulls will be looking to overcome the $8,200 barrier in the short-term. Currently, they have taken the price up from $8,005 to $8,050 as the markets opened this Tuesday.
Trade tensions exacerbated concerns about a global economic slowdown
It was a rough week for the common currency, as persistent tensions between the US and China kept high-yielding currencies away from speculative interest's radar. The EUR/USD pair fell, trimming most of the last two-week gains and losing the 1.1200 figure, also undermined by softer-than-expected Chinese data, which revived concerns about the global economic slowdown, and, as the Union stands at the edge of the cliff, was among the most affected.
USD/JPY has surpassed the 110.00 level as the greenback's strength outweighed safe-haven flows. What levels should we watch out for?
The Technical Confluences Indicator shows that USD/JPY has massive support around 109.80 where a dense cluster of levels awaits it. That includes the Fibonacci 161.8% one-month, the Bollinger Band 4h-Middle, the Simple Moving Average 200-1h, the Fibonacci 38.2% one-week, the Fibonacci 61.8% one-day, the Pivot Point one-day Support 1 and more.
If it breaches this support region, the next significant support is at 109.09 where the Fibonacci 161.8% one-day and the PP 1m-S3 converge.
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