Merlin Rothfeld
Online Trading Academy
Markets continued their bounce on Monday, racing toward all time highs… again! Master trader and instructor Jeff Manson joins Merlin to offer his thoughts on where the markets may be headed in the short term. Jeff uses cycles to offer suggestions on market direction, and the hinge on Tuesday’s trading action! Jeff also offers us some insight into his upcoming “Hour with the Pro’s” this Thursday.
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Editors’ Picks
EUR/USD under pressure below 1.1100 as US dollar rebounds
EUR/USD remains under pressure below 1.1100 amid the broad US dollar rebound. US President Trump's decision to extend lockdown to tackle the coronavirus outbreak intensified risks of a deeper economic slowdown and underpinned the haven demand for the greenback.
GBP/USD: Rebound remains capped by 1.2400 amid firmer US dollar
GBP/USD is off the lows but the upside attempts remain capped by 1.2400 amid a broadly stronger US dollar. The dire warnings on the UK’s economic growth amid expectations of a longer lockdown weigh on the spot.
USD/JPY: Upside limited, at risk of falling
The market’s mood remained depressed amid the escalation of the coronavirus pandemic. Stocks trade in the red although off daily lows in Europe. USD/JPY barely holding above critical support, downside potential still present.
Editors’ Picks
EUR/USD under pressure below 1.1100 as US dollar rebounds
EUR/USD remains under pressure below 1.1100 amid the broad US dollar rebound. US President Trump's decision to extend lockdown to tackle the coronavirus outbreak intensified risks of a deeper economic slowdown and underpinned the haven demand for the greenback.
GBP/USD: Rebound remains capped by 1.2400 amid firmer US dollar
GBP/USD is off the lows but the upside attempts remain capped by 1.2400 amid a broadly stronger US dollar. The dire warnings on the UK’s economic growth amid expectations of a longer lockdown weigh on the spot.
USD/JPY: Upside limited, at risk of falling
The market’s mood remained depressed amid the escalation of the coronavirus pandemic. Stocks trade in the red although off daily lows in Europe. USD/JPY barely holding above critical support, downside potential still present.
Cryptocurrencies: Bulls try to take the reins again, XRP in front
The XRP/USD pair is best positioned to escape the bearish trap that has gripped the market in recent weeks. Ether needs to do better than BTC, as it has happened over the weekend. Market sentiment is at a negative extreme, an invitation to a short-term upward shift.
Gold remains confined in a narrow range around $1620 level
Gold extended its sideways consolidative price action and remained confined in a four-day-old trading range through the early European session on Monday. A goodish pickup in the USD demand seemed to be a key factor capping gains.
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