USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD is rebounding from the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3805 is expected, followed by a rise to 1.3930. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.3725, which will mean a further decline to 1.3635.

USDCAD

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD is correcting after a rebound from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.6425 is expected, followed by a decline to 0.6295. 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 0.6475, which will mean further growth to 0.6565. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the quotes securing under the 0.6385 level.

AUDUSD

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF is declining within a Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.9110 is expected, followed by a rise to 0.9245. An additional signal confirming the rise will be a rebound from the lower boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 0.9035, which will mean a further decline to 0.8945. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the Triangle pattern with the quotes securing above the 0.9160 level.

USDCHF

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EUR/USD stays weak near 1.0850 ahead of German inflation data

EUR/USD stays weak near 1.0850 ahead of German inflation data

EUR/USD stays depressed near 1.0850 in the European morning on Wednesday. The pair faces challenges as the US Dollar gains further ground amidst emerging risk aversion, fuelled by reduced Fed rate cut expectations and rife Middle East tensions. German inflation data is next in focus. 

EUR/USD News

GBP/USD holds lower ground near 1.2750 amid US Dollar strength

GBP/USD holds lower ground near 1.2750 amid US Dollar strength

GBP/USD holds lower ground near 1.2750 in European trading on Wednesday. The extended strength in the US Dollar and US yields, amid the diminishing bets of a Sept Fed rate cut, weighs on the pair. Risk-off mood also remains a drag on the major. 

GBP/USD News

Gold buyers take a breather but technicals stay bullish

Gold buyers take a breather but technicals stay bullish

Gold price is posting small losses below $2,360, pausing a three-day recovery early Wednesday. The US Dollar resurgence acts as a headwind for the Gold price, despite heigthening Middle East tensions and a pick up in Indian physical Gold demand.

Gold News

Digital asset inflows reach record high year-to-date

Digital asset inflows reach record high year-to-date

CoinShares' weekly digital asset flows, released on Tuesday, reveal that digital assets recorded a three-week consecutive rise in inflows, amounting to a record high of $14.9 billion already this year.

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Inflation week: Eyes on Germany’s numbers, Eurozone and the US PCE

Inflation week: Eyes on Germany’s numbers, Eurozone and the US PCE

Today we get Germany’s numbers and on Friday, both the Eurozone and the US PCE. For the Eurozone, expectations are for core to remain the same at 2.7% and for the ECB to cut in June. This is being named a “hawkish cut,” one of those inherently self-contradictory terms.

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