Good morning. Hope all is well. We seem to have a had a good forecast for yesterday with all of the US Dollar pairs performing as predicted. As we had thought the Dollar did weaken at the onset and gathered some steam later on. On some instances the markets reached our blue zones and was shy to come out while on some instances the zones were very strong that the markets got rejected quickly. On the other hand the Japanese Yen pair did not behave as we expected due the Yen continuing to weaken. We were more on a strong stance for Yen. All in all a good forecast. Japanese Yen, British Pound and the US Dollar are on our watchlist for today due to the fundamental watch. Through the course of the day we could see a strong US Dollar while Japanese Yen may sideline. Not adding any hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Strong
Today we're expecting the EURUSD to proceed Short below the barrier levels of 1.25361 and 1.25020.
Fundamental Watch
– Monetary Policy Statement
– BOJ Press Conference
– MPC Official Bank Rate Votes
– Building Permits
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 holds above 1.0750 to start the week
EUR/USD trades in positive territory above 1.0750 in the European session on Monday. The US Dollar struggles to find demand following Friday's disappointing labor market data and helps the pair hold its ground.
GBP/USD clings to small gains above 1.2550
Following Friday's volatile action, GBP/USD edges highs and trades in the green above 1.2550. Soft April jobs report from the US and the modest improvement seen in risk mood make it difficult for the US Dollar to gather strength.
Gold price rebounds on downbeat NFP data, eyes on Fedspeak
Gold price (XAU/USD) snaps the two-day losing streak during the European session on Monday. The weaker-than-expected US employment reports have boosted the odds of a September rate cut from the US Fed.
Addressing the crypto investor dilemma: To invest or not? Premium
Bitcoin price trades around $63,000 with no directional bias. The consolidation has pushed crypto investors into a state of uncertainty. Investors can expect a bullish directional bias above $70,000 and a bearish one below $50,000.
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.