ING’s Francesco Pesole notes USD/JPY volatility and suggests an initial move lower may already have involved FX intervention. With US holidays thinning liquidity, he sees elevated risk of further Japanese action, consistent with past behaviour.
Feed from Fxstreet.com
Major Takeaways Main scenario: Once the correction is completed, consider short positions below the level of 1.3467 with a target of 1.3050–1.2936. A sell signal: the correction ends and the price holds below 1.3467. Stop Loss: above 1.3510, Take Profit: 1.3050–1.2936. Alternative scenario: Breakout and consolidation above the level of 1.3467 will allow the pair to continue rising to the levels of 1.3660–1.3870. A buy signal: the level of 1.3467 is broken to the upside. Stop Loss: below 1.3425, Take Profit: 1.3660–1.3870. Main Scenario Consider short positions below 1.3467 with a target of 1.3050–1.2936 once the correction is completed. Alternative… Read full author’s opinion and review in blog of #LiteFinance
Feed from Litefinance.com
The record price surge at the beginning of the year deprived silver of an important driver—demand for physical metal. Consumers are looking for alternatives, and the XAG/USD’s dependence on gold is rising sharply. At the same time, the decline is happening much faster. Let’s discuss these topics and develop a trading plan. Major Takeaways Silver has lost half its value. The physical market is not supporting the XAG/USD. The Fed’s hawkish shift has dealt a blow to precious metals. Positions on the XAG/USD can be opened based on Warsh’s comments. Monthly Fundamental Forecast for Silver Some traders tend to pick… Read full author’s opinion and review in blog of #LiteFinance
Feed from Litefinance.com
The Euro (EUR) trades higher for the second consecutive day on Friday, with the US Dollar (USD) on its back foot in the aftermath of the disappointing US Nonfarm Payrolls (NFP) report released on Thursday. The EUR/USD pair, however, is struggling to breach resistance at 1.1475 so far.
Feed from Fxstreet.com
Major Takeaways Main scenario: Consider long positions from corrections above 159.83 with a target of 165.00–170.00. A buy signal: the price holds above 159.83. Stop Loss: below 159.30, Take Profit: 165.00–170.00. Alternative scenario: Breakout and consolidation below 159.83 will allow the asset to continue declining to the levels of 158.90–158.00. A sell signal: the level of 159.83 is broken to the downside. Stop Loss: above 160.35, Take Profit: 158.90–158.00. Main Scenario Consider long positions from corrections above 159.83 with a target of 165.00–170.00. Alternative Scenario Breakout and consolidation below 159.83 will allow the pair to continue declining to the levels… Read full author’s opinion and review in blog of #LiteFinance
Feed from Litefinance.com
Gold (XAU/USD) extends gains on Friday as weaker-than-expected US Nonfarm Payrolls (NFP) data released on Thursday batters the US Dollar (USD) and cools expectations of an imminent Federal Reserve (Fed) interest rate hike.
Feed from Fxstreet.com
Rising expectations of further Fed monetary tightening, elevated Treasury yields, and a stronger US dollar had kept gold under pressure. However, the events in Sintra and the US employment report changed everything. Let’s discuss this topic and make a trading plan for XAU/USD. Major Takeaways Gold has regained its footing thanks to the Fed. A weaker US dollar is supportive for XAU/USD. Central bank demand will continue to support the precious metal. A sustained move above $4,170 will provide a buying opportunity. Weekly Fundamental Forecast for Gold Kevin Warsh’s speech in Sintra, Portugal, and disappointing US employment data allowed gold… Read full author’s opinion and review in blog of #LiteFinance
Feed from Litefinance.com
Major Takeaways Main scenario: Consider long positions from corrections above 67.00 with a target of 91.80–105.17. A buy signal: the price holds above 67.00. Stop Loss: below 65.50, Take Profit: 91.80–105.17. Alternative scenario: Breakout and consolidation below 67.00 will allow the asset to continue declining to the levels of 62.00–58.50. A sell signal: the level of 67.00 is broken to the downside. Stop Loss: above 68.50, Take Profit: 62.00–58.50. Main Scenario Consider long positions from corrections above 67.00 with a target of 91.80–105.17. Alternative Scenario Breakout and consolidation below 67.00 will allow the asset to continue declining to the levels… Read full author’s opinion and review in blog of #LiteFinance
Feed from Litefinance.com
Major Takeaways Main scenario: Consider long positions from corrections above 3,927.70 with a target of 4,900.00–5,610.00. A buy signal: the price holds above 3,927.70. Stop Loss: below 3,860.00, Take Profit: 4,900.00–5,610.00. Alternative scenario: Breakout and consolidation below 3,927.70 will allow the asset to continue declining to the levels of 3,290.55–2,945.80. A sell signal: the level of 3,927.70 is broken to the downside. Stop Loss: above 3,995.00, Take Profit: 3,290.55–2,945.80. Main Scenario Consider long positions from corrections above 3,927.70 with a target of 4,900.00–5,610.00. Alternative Scenario Breakout and consolidation below 3,927.70 will allow the asset to continue declining to the levels… Read full author’s opinion and review in blog of #LiteFinance
Feed from Litefinance.com
TD Securities strategists expect the ISM Services index to retreat in June after May’s gain, pointing to broad-based slowing in US activity and new orders while employment remains in contraction.
Feed from Fxstreet.com
Commerzbank’s Charlie Lay and Dr. Henry Hao note that weaker US non-farm payrolls and reduced Fed rate hike expectations weighed on the Dollar, supporting the Japanese Yen. USD/JPY fell sharply as markets priced a smaller cumulative hike by year-end and speculated about possible FX intervention.
Feed from Fxstreet.com
ING’s Francesco Pesole highlights that EUR/USD price action after the US jobs report underlines the lack of a strong bullish narrative for the Euro, as markets doubt further ECB hikes. Softer inflation and low Oil prices weigh on expectations.
Feed from Fxstreet.com