Ed Ponsi, CTA
FXStreet Contributor
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Summary
Ed Ponsi discussed real-time, interactive technical and fundamental analysis of the Forex markets. View and analyze live charts and news, uncover opportunities for upcoming trades, and answer participant questions during webinar.
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Editors’ Picks
EUR/USD steadies around 1.1700, with eyes on key EU/ US data
EUR/USD keeps its range intact around 1.1700 in European trading hours on Wednesday. The pair awaits key Eurozone inflation and US jobs numbers for a fresh directional impetus. In the meantime, a broadly subdued US Dollar keeps the major supported.
GBP/USD climbs above 1.3500 as US Dollar weakens ahead of ISM Services PMI
GBP/USD gains some ground after registering modest gains in the previous session, trading around 1.3510 during the Asian hours on Wednesday. The pair edges higher as the US Dollar struggles ahead of the US ISM Services Purchasing Managers’ Index and JOLTs job openings due later in the day.
Gold pulls back from $4,500 amid profit-taking ahead of key US macro data
Gold struggles to capitalize on its strong weekly gains registered over the past two days and faces rejection near the $4,500 psychological mark, or over a one-week high touched during the Asian session on Wednesday. As investors digest the recent US attack on Venezuela, the prevalent risk-on environment prompts some profit-taking around the commodity.
Bitcoin, Ethereum and Ripple cool off as rally stalls near key resistance zones
Bitcoin, Ethereum, and Ripple prices are taking a breather on Wednesday near their key resistance levels following the recent surge. BTC faces rejection at the $94,253 level, while ETH and XRP follow BTC’s footsteps, struggling near $3,308 and $2.35, respectively.
Implications of US intervention in Venezuela
Events in Venezuela are top of mind for market participants, and while developments are associated with an elevated degree of uncertainty, we are not making any changes to our markets or economic forecasts as a result of the deposition of Nicolás Maduro.
