EUR/USD is on the verge of a significant correction according to the following top-down analysis that illustrates the market structure and bearish bias across the monthly, weekly and daily time frames.
GBP/USD eases from the multi-day top, marked on Tuesday, taking rounds to 1.4140 during Wednesday’s Asian session. In doing so, the cable portrays a typical cautious mood ahead of the key UK Q1 GDP and the US Consumer Price Index (CPI) data for April.
EOS price may log the largest one-day gain since July 3, 2017. No signs of an extreme overbought condition on the daily or weekly Relative Strength Indexes (RSI). Block.one announces plans to launch a cryptocurrency exchange subsidiary.
We expect US rates and yields to continue to tick up over the next 3-6 months as the US recovery gains speed, inflation expectations and real interest rates continue to rise and markets really begin to discuss the timing of Fed QE tapering.