EUR/USD, “Euro vs US Dollar”
The pair is forming a consolidation range around 1.0500. With an escape upwards, the correction might continue to 1.0620, followed by a decline to 1.0220. With an escape downwards, a pathway directly to 1.0220 will open.
GBP/USD, “Great Britain Pound vs US Dollar”
The pair is forming a consolidation range around 1.2222. With an escape upwards, a correctional pathway to 1.2502 will open. Then a decline to 1.2177 will become possible. And after this level is broken away as well, a pathway down to 1.1818 will open. With an escape from the range downwards, the trend might directly continue to 1.1818.
USD/JPY, “US Dollar vs Japanese Yen”
The pair is forming a consolidation range around 134.48. Today the pair might grow to 136.36 and fall to 133.50.
USD/CHF, “US Dollar vs Swiss Franc”
The pair keeps developing a consolidation range around 0.9690. With an escape downwards, a pathway to 0.9577 will open. Then growth to 0.9811 will become possible. And with a breakaway of this level upwards as well, growth to 1.0088 will become possible.
AUD/USD, “Australian Dollar vs US Dollar”
The pair is forming a consolidation range around 0.6935. With an escape downwards, a pathway to 0.6824 will open. With an escape upwards, a correction to 0.7000 will become possible. Then a decline to 0.6824 might follow.
Brent
Oil completed a correction at 113.30. Today the market is forming a consolidation range around this level. An escape upwards to 121.50 is expected. With a breakaway of this level upwards, too, the trend might continue to 129.60.
XAU/USD, “Gold vs US Dollar”
Gold is forming a consolidation range around 1835.95. A link of growth to 1866.00 is expected, followed by probably one more declining wave to 1772.27.
S&P 500
The stock index completed another declining wave to 3682.9. Today the market is forming a consolidation range around this level. A decline to 3500.0 is expected, followed by growth to 3850.0.
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EUR/USD climbs to fresh monthly high above 1.0800
EUR/USD gathered bullish momentum and advanced to its highest level in a month above 1.0800 in the American session on Tuesday. The renewed selling pressure surrounding the US Dollar ahead of Wednesday's key inflation data provides a boost to the pair.
GBP/USD rises toward 1.2600 on renewed USD weakness
After falling toward 1.2500 in the early American session, GBP/USD regained its traction and turned positive on the day above 1.2550. The US Dollar struggles to find demand following the producer inflation data and allows the pair to stretch higher.
Gold extends daily recovery toward $2,350
Following Monday's decline, Gold stages a rebound toward $2,350 on Tuesday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.5% after April producer inflation data, allowing XAU/USD to hold its ground.
Ethereum knocking at support’s door
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PPI surprises on the upside, but CPI may not follow suit
US producer price data for April surprised on the upside, suggesting that inflation pressure at the start of the inflation pipeline could be building once again. Final demand PPI rose to 2.2% from 1.8%.