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Oil price

XAU/USD

Weekly Trades: GBP/USD, EUR/USD, USD/JPY and EUR/AUD

Brian Twomey Brian's Investment

USD/JPY last week achieved target for + 500 pips. GBP/NZD despite a wild ride achieved target 1.0200's. AUD/JPY ended at small profit near entry and GBP/CHF was seriously off but deeply oversold.

GBP/USD

Long anywhere or 1.2261 to target 1.2759. Must cross 1.2284, 1.2379, 1.2474, 1.2569, 1.2664 and 1.2711.

Above 1.2854 targets 1.2949.

EUR/USD

Long 1.1079 and 1.1053 to target 1.1103.

Long above 1.1129 to target 1.1329. Must cross 1.1229 and deep caution 1.1250 and 1.1258 and 1.1308.

Short 1.1329 to target 1.1179. Must cross 1.1229.

USD/JPY

Long 105.69 and and 105.27 to target 106.51.

Long above 107.34 to target 108.98.

EUR/AUD

Short 1.7949 and 1.8001 to target 1.7241. Must cross 1.7713, 1.7595, 1.7477, 1.7359, and 1.7301. Any higher than 1.8001 is a bonus and particularly when the long term target is located at 1.5900's.

Author

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

EUR/USD holds ground near 1.1550 ahead of US Inflation data

EUR/USD is holding ground at around 1.1550 in the European session on Wednesday. The pair takes advantage of the profit-taking pullback in the US Dollar as traders reposition ahead of the critical US CPI inflation data. However, any upside attempts could be limited amid renewed US-Iran tensions.

GBP/USD keeps range near 1.3400, with eyes on US CPI

GBP/USD clings to minor recovery gains near 1.3400 in Wednesday's European trading, though it remains in a familiar range heading into the US CPI event risk. Traders keep an eye on developments around the Middle East crisis, which could ramp up volatility in the major.

Gold languishes near March low, below $4,200 as traders await US CPI report

Gold maintains its heavily offered tone through the first half of the European session and currently trades near its lowest level since March 23, around the $4,180-$4,175 region. Renewed hostilities between the US and Iran fuel inflationary concerns and bolster bets for more hawkish central banks.

Cardano's downtrend deepens despite on-chain bottoming signals

Cardano edges lower to $0.1600 signaling a potential extension of the 30% loss from last week. The altcoin remains under intense selling pressure, weighing on its retail support. Still, a spike in dormant supply re-entering circulation signals that the selling pressure has run its course, a pattern that often precedes a rebound.

US CPI data set to show inflation at three-year high in May, backing Fed hawkish tilt

The US Bureau of Labor Statistics will publish the May Consumer Price Index (CPI) data on Wednesday. The report is expected to show another step up in consumer inflation, driven by the persistently high Oil prices due to the ongoing crisis in the Middle East.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.

Weekly Trades: GBP/USD, EUR/USD, USD/JPY and EUR/AUD

GBP/USD

EUR/USD

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Editor's Picks

EUR/USD holds ground near 1.1550 ahead of US Inflation data

GBP/USD keeps range near 1.3400, with eyes on US CPI

Gold languishes near March low, below $4,200 as traders await US CPI report

Cardano's downtrend deepens despite on-chain bottoming signals

US CPI data set to show inflation at three-year high in May, backing Fed hawkish tilt

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

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