EUR/USD is leading to the downside [Video]

Dale J Pinkert Independent Analyst

In this episode of TradeGateHub Live Trading, the market focus is on the continued downside momentum in EURUSD, which is leading the current move lower. The coach discusses the potential for a peak in USDJPY as risk-off sentiment persists and interest rates continue to decline. Dale also turns his attention to the crypto market, noting that Bitcoin has dropped close to his 100K target. Meanwhile, stock indices appear to be experiencing a “dead cat bounce,” suggesting that the recent rebound may be short-lived and lacking real strength.

Author

Dale J Pinkert

Independent Analyst

Former Member of the Chicago Mercantile Exchange (IOM Division), Dale's market forecasts have been aired on Financial Television and Radio station including CNBC.

EUR/USD bounces off lows, back to 1.1860

EUR/USD now manages to regain some balance, retesting the 1.1860-1.1870 band after bottoming out near 1.1830 following the US NFP data on Wednesday. The pair, in the meantime, remains on the defensive amid fresh upside traction surrounding the US Dollar.

GBP/USD rebounds to 1.3660, USD loses momentum

GBP/USD trades with decent gains in the 1.3660 region, regaining composure following the post-NFP knee-jerk toward the 1.3600 zone on Wednesday. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold stays bid, still below $5,100

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of humble gains in the US Dollar and firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.