EUR/USD eases below 1.0450 as USD firms up amid light trading

EUR/USD eases below 1.0450 as USD firms up amid light trading

EUR/USD remains pressured below 1.0450, fading Friday’s rebound, as the US dollar sees fresh demand amid a cautious market mood and light trading conditions. Recession fears and Fed-ECB policy contrast will keep favoring the dollar. Eurozone Sentix eyed. 

EUR/USD News

GBP/USD hovers around 1.2100 amid fresh UK political jitters

GBP/USD hovers around 1.2100 amid fresh UK political jitters

GBP/USD licks its wounds around 1.2100, as investors stalk the US dollar amid growing growth fears. Another attempt to oust UK PNM Johnson and looming Brexit woes keep the upside elusive in cable. Thinner liquidity conditions will prevail amid the US holiday. 

GBP/USD News

Gold: Death cross to ring knell for XAUUSD, as eyes turn to Fed Minutes

Gold: Death cross to ring knell for XAUUSD, as eyes turn to Fed Minutes

Gold Price defends minor recovery gains above $1,800 amid US holiday. Growth fears strengthen the US dollar, despite the recent sell-off in yields. XAUUSD awaits death cross confirmation to resume the downtrend below $1,800.

Gold News

Cardano’s Vasil hard fork launches on testnet positioning ADA price for a breakout

Cardano’s Vasil hard fork launches on testnet positioning ADA price for a breakout

Cardano price is at a point in its journey where things could go either way. As ADA consolidates above a stable support level, things could turn ugly if it breaks or bullish if it bounces. Therefore, investors need to be careful with their decision.

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Tesla deliveries fall – Is its stock price next?

Tesla deliveries fall – Is its stock price next?

Tesla stock showed signs of range contraction during the day, making an intraday range from $666.36 day low to a day high of $690.69, the narrowest in the last seven days.

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DEEPER DIVE

Facebook parent price target at $200 despite macro headwinds

Facebook parent price target at $200 despite macro headwinds

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.

Central Bankers' Panel puts Powell, dollar on top, Lagarde, euro lagging, Bailey, pound behind Premium

Central Bankers' Panel puts Powell, dollar on top, Lagarde, euro lagging, Bailey, pound behind

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. 

This crypto investment strategy will help you triumph after the bear markets

This crypto investment strategy will help you triumph after the bear markets

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.

FXS Signals

Technical Confluences Detector

Dhwani Mehta

With the ECB Sintra Forum out of the way, the end-of-the-quarter flows and the US inflation data will drive the metal’s price action. Any reprieve in gold price is likely to remain temporary amid hawkish Fed stance and growing recession fears, which are likely to keep the safe-haven demand for the dollar buoyed.

Gold Price: Key levels to watch

The Technical Confluence Detector shows that Gold Price is witnessing a dead cat bounce after three straight days of losses. On its recovery mode, the bright metal is challenging strong resistance around $1,822, which is the convergence of the SMA5 one-day and SMA1o four-hour.

The confluence of the Fibonacci 61.8% one-day and the Fibonacci 23.6% one-week at $1,825 will threaten XAU bulls. Further up, bulls will need to crack the $1,831 barrier, where the SMA10 one-day, pivot point one-day R1 and SMA50 four-hour.

The next critical resistance around $1,835 will test the bearish commitments. That level is the meeting point of the SMA100 four-hour, Fibonacci 38.2% one-month and Fibonacci 61.8%.

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CRYPTOCURRENCIES

Ripple does not stand a chance against SEC, affirms former securities regulator

Ripple does not stand a chance against SEC, affirms former securities regulator

Former Chief Robert Cohen believes the Securities & Exchange Commission's (SEC) ’s case against payment giant Ripple is key, however the outcome may not be as significant. The regulator is likely to file a motion for reconsideration on losing the case against Ripple. 

More Ripple News

Cardano’s Vasil hard fork launches on testnet positioning ADA price for a breakout

Cardano’s Vasil hard fork launches on testnet positioning ADA price for a breakout

Cardano price is at a point in its journey where things could go either way. As ADA consolidates above a stable support level, things could turn ugly if it breaks or bullish if it bounces. Therefore, investors need to be careful with their decision.

More Cardano News

Why this boring phase of LUNA price will result in handsome returns

Why this boring phase of LUNA price will result in handsome returns

LUNA price has been consolidating tightly since June 30, after undoing the gains seen over the previous week. This small range, suggests that an explosive move is around the corner, although the direction of a breakout remains to be seen.

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Argentines take refuge in stablecoins after economy minister resignation

Argentines take refuge in stablecoins after economy minister resignation

Following the resignation Saturday of Argentina's economy minister Martin Guzmán amid an economic crisis, Argentines purchased between two and three times as many stablecoins as they do on a typical weekend, crypto companies in the country told CoinDesk.

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THE STOCK OF THE DAY

TSLA suffers on autopilot as jobs losses hit sentiment

TSLA suffers on autopilot as jobs losses hit sentiment

Tesla's (TSLA) stock fell on Thursday as more job loss news hit sentiment on the name and the broad equity market remained nervous ahead of upcoming earnings. Tesla will report its earnings on July 20, but delivery data is due probably on Friday, which will be keenly watched by investors as that dictates quarterly revenue. We remain negative on the stock and have a $400 price target based on our deep-dive research into Tesla, which you can read here. 

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WEEKLY FORECAST

EUR/USD eyes fresh 2022 lows in the US NFP week ahead Premium

EUR/USD eyes fresh 2022 lows in the US NFP week ahead

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.

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GBP/USD: Nothing seems to stop GBP bears, 1.1933 appears at risk Premium

GBP/USD: Nothing seems to stop GBP bears, 1.1933 appears at risk

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.

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USD/JPY: Recession reaches critical mass Premium

USD/JPY: Recession reaches critical mass

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. 

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USD/CAD Weekly Forecast: Energy jitters propel the Canadian dollar Premium

USD/CAD Weekly Forecast: Energy jitters propel the Canadian dollar

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. 

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Bitcoin: This support level can define BTC’s fate

Bitcoin: This support level can define BTC’s fate

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. 

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Gold: Recovery hopes fade ahead of key US events Premium

Gold: Recovery hopes fade ahead of key US events

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.

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