EUR/USD - 1.2144
Despite euro's retreat from Tuesday's fresh 10-week high of 1.2181, as long as 1.2124/28 sup holds, recent upmove would yield marginal gain after consolidation, 'loss of upward momentum' should cap price well below daily res at 1.2242 and risk has increased for a long-overdue correction to take place.

On the downside, a daily close below 1.2124 signals temporary top is in place, then outlook would turn bearish for weakness to 1.2054/58 later this week.

Data to be released on Wednesday:

New Zealand retail sales, Australia Westpac consumer sentiment, Japan coincident index, leading indicator.
Germany CPI, HICP, U.K. GDP, industrial output, manufacturing output, construction output, trade balance, NIESR GDP, France CPI, EU industrial production.
U.S. MBA mortgage, CPI, Federal budget.

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD holds above 1.21 as tensions mount ahead of the Fed

EUR/USD is trading above 1.21, in limited, typical, pre-Federal Reserve trading. Markets await the bank's dot plot and Chair Powell's comments on potential tapering of the Fed's bond-buying scheme. 

EUR/USD News

GBP/USD hovers around 1.41 after strong UK CPI

GBP/USD is trading around 1.41, rising after the UK reported an annual inflation rate of 2.1% in May, beating estimates and raising the chances of a BOE rate hike. The focus remains on the Federal Reserve's decision later in the day.

GBP/USD News

XAU/USD remains confined in a range near $1,860 level, FOMC awaited

Gold lacked any firm directional bias and remained confined in a narrow trading band through the first half of the European session on Wednesday.

Gold News

Shiba Inu ready to reverse to $0.0000050

SHIB price faces stiff resistance ahead. Shiba Inu has had a difficult time recovering, suggesting that it may soon face rejection. In the following video, FXStreet's analysts evaluate where SHIB price could be heading next as Shiba Inu gets weaker.

Read more

Federal Reserve Preview: First up, then down? Playbook for trading the Fed

To taper or not to taper? That is the question for markets ahead of the Federal Reserve's all-important June meeting. Fed Chair Powell will likely shoot down any talk of tapering the bank's bond buys. Highly volatile trading could see the greenback first drop.

Read more

Majors

Cryptocurrencies

Signatures