EUR/USD, “Euro vs US Dollar”

EUR/USD has rebounded from the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0725 is expected, followed by a decline to 1.0545. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0785, which will mean further growth to 1.0875. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price securing under 1.0635.

EURUSD

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD are testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.3495 is expected, followed by a decline to 1.3395. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.3525, which will mean further growth to 1.3615.

USDCAD

XAU/USD, “Gold vs US Dollar”

Gold is correcting within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line of the Cloud at 1925 is expected, followed by a rise to 1945. An additional signal confirming the rise will be a rebound from the lower boundary of the ascending channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1910, which will mean a further decline to 1880.

Gold

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GBP/USD finds it difficult to build on the previous week's gains and trades below 1.3000 on Monday. Investors refrain from taking large positions ahead of Fed Chairman Powell's speech and allow the pair to stay in its daily range.

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Gold on its route to retest record highs at $2,450

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Gold regains its traction and trades in positive territory slightly above $2,420 after dropping toward $2,400 at the beginning of the week. Investors await Fed Chairman Powell's appearance at the Economic Club of Washington.

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Crypto Today: Bitcoin, Ethereum and XRP what to expect as SEC executive says Howey test applies to cryptos

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Bitcoin trades above $62,500 on Monday, sustains above key support as head of US SEC enforcement division says Howey test applies to cryptos. Ethereum and XRP trade above key support, extending gains by nearly 3% on the day. 

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Five fundamentals for the week: Markets set to move on Trump fallout, ECB, US Retail Sales, more Premium

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"Donald Trump was shot" – the shocking reports from Pennsylvania reverberated across markets and will likely continue doing so. Investors will also watch for further signs of slowdown and European defiance. Here are the three key events to watch.

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