Good morning. Hope all is well! We have had a really good forecast for yesterday with 6 out of the 7 pairs playing out as we had predicted. AUDUSD was the only odd pair out that punched through our blue supply/demand zones. A good forecast indeed! We could be seeing more action today with many fundamental news items due to come out that may fuel markets such as Japanese Yen, US Dollar, British Pound and Canadian Dollar. Throughout the day we could be in for a weak US Dollar and Japanese Yen. Adding one hedged pair to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.24238 and 1.23966.
Fundamental Watch
- BOJ Gov Kuroda Speaks
- Inflation Report Hearings
-Core Retail Sales m/m
- Prelim GDP q/q
- CB Consumer Confidence
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 marginal gains above 1.0750
EUR/USD trades in positive territory above 1.0750 in the second half of the day on Monday. The US Dollar struggles to find demand as investors reassess the Fed's rate outlook following Friday's disappointing labor market data.
GBP/USD edges higher toward 1.2600 on improving risk mood
Following Friday's volatile action, GBP/USD pushes higher toward 1.2600 on Monday. 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 climbs above $2,320 as US yields push lower
Gold trades decisively higher on the day above $2,320 in the American session. Retreating US Treasury bond yields after weaker-than-expected US employment data and escalating geopolitical tensions help XAU/USD stretch higher.
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.
Three fundamentals for the week: Two central bank decisions and one sensitive US Premium
The Reserve Bank of Australia is set to strike a more hawkish tone, reversing its dovish shift. Policymakers at the Bank of England may open the door to a rate cut in June.