Good morning. Hope all is well! We seem to have had a good forecast for yesterday with 4 out of the 7 pairs conforming to our forecast, specially EURUSD, GBPUSD, USDCAD and USDCHF. The Oceanic pairs didn’t make any moves were more sidelined, hence didn’t reach our demand zones. On EURJPY market dropped in the opposite direction as Japanese Yen strengthened instead of weakening as we had thought. Today we should be keeping a close eye on all US Dollar, British Pound and Australian Dollar pairs due to our fundamental watch with more emphasis on the down under pair as majority of the events are related to Australian Dollar, hence we might see some good market movements on these currencies. Overall we could be looking at a strong US Dollar and a weak Japanese Yen being weak. Adding two hedged pairs to offset the trading risk. Happy Trading!
Forecasts Outlook
US Dollar: Strong
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.36350 and 1.36050.
Fundamental Watch
- FOMC Meeting Minutes
- ECB President Draghi Speaks
- Employment Change
- Unemployment Rate
Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice. Urbanforex will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.<7p>
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.