We continue our deep dive series with a focus on Facebook parent Meta Platforms. We will focus as ever on traditional DCF cash flow analysis as well as a relative valuation model to forecast a 12-month price target.

Football fans will have to wait until the winter to see the World Cup – but forex traders have their dream team playing in a panel already now. 

A brief technical and on-chain analysis on a few cryptos. Here, FXStreet’s analysts evaluate where some of the hottest cryptos on the market could go next.

Euro ended the week deep in the red, resuming the recent bearish momentum after witnessing a brief reprieve a week ago. The main currency pair failed to persist above the 1.0600 level and fell as low as 1.0382, hitting its lowest point since mid-June. Bulls managed to stage a comeback but retreated amid prevalent recession fears, which kept the sentiment around the US dollar buoyed throughout the week.

The recent bearish consolidation recharged GBP sellers, who remained in force and smashed GBP/USD to two-week lows below 1.2000. Cable lost more than 200 pips over the week, snapping the previous week’s brief recovery. Markets now look forward to the FOMC June meeting’s minutes and the US Nonfarm Payrolls for a fresh direction in the major.

The USD/JPY prospects remain tied to US Treasury rates and the outlook for the economy. This week provided the first concrete information that inflation’s disruption has gone deeper than mere consumer inconvenience and has begun to damage growth. Consumer purchasing power has fallen for 15 straight months, eroded by rampant price increases, as wages and income have failed to keep pace. 

The US dollar managed a small recovery against the loonie on Friday backed by a strong US payroll report, but that barely altered the dismal record that has seen the USD/CAD drop 1% this week and 3.4% since May 12. 

Bitcoin price ended Q2 with a -56% return, which is the first in its 11-year history. On-chain metrics hint at bottom formation but technicals reveal more room to the downside. Bitcoin price has finished the first half of 2022 and things are not looking good. With record negative returns, BTC is likely to continue heading lower, especially if one particular support level is breached. 

Gold closed the first four days of the week in negative territory and touched its weakest level since late January below $1,790 on Friday before recovering above $1,800. Renewed dollar strength amid risk aversion weighed on XAU and caused it to close the third straight week in negative territory. Ahead of next week’s June jobs report from the US, gold is likely to find it difficult to stage a convincing rebound.