EUR/USD is trading below 1.1200 after ECB President Draghi opened the door to rate cuts. Presidents Trump and Xi will hold an extended meeting at the G-20 Summit. The news cheered markets.
Will the Fed cut interest rates soon? Markets are holding their collective breath for the event that will rock the USD. Mixed data and trade are factors. Live coverage. Join us!
The second ballot for Tories' leadership has been complete. Boris Johnson ended first with 126 votes, followed by Jeremy Hunt, who got 46. Dominic Raab eliminated. Pound showed no reaction to the news.
Fed Funds 2.25%-2.50% target range predicted to be unchanged. Market expecting confirmation of easing bias into the second half. FOMC statement wording, especially "patient" and the economic projections important.
The first pause in the Crypto market arrives after a few days of gains in Bitcoin compared to all other assets. ETH/BTC may improve against the long-term trend. XRP seems incapable of capitalizing on good news.
Ethereum (ETH) attempted to recover above hit $270 on Tuesday, failed to maintain the upside movement. The second largest cryptocurrency with the current market capitalization of $28.6 billion is mostly unchanged in recent 24 hours and down 2.5% since the beginning of Tuesday.
Ripple announced the anticipated partnership with the second largest money transmission network MoneyGram on Monday, June 17. The strategic partnership will last a couple of years and will see both companies collaborate in cross-border payments.
Better-than-expected US data gave the greenback a lift at the end of the week
The EUR/USD pair started the week losing the positive momentum triggered by a dismal US Nonfarm Payroll report Friday, retreating from the fresh over two-month high of 1.1347. A tweet from US President Trump over the weekend, indicating that the country and Mexico reached a deal and that he would not apply tariffs to Mexican imports, brought some relief to the financial world and the greenback.
GBP/USD has been on the back foot, falling to new five-month lows as the Conservative Party holds its second round of the leadership contest. What levels should we watch?
The Technical Confluences Indicator faces fierce resistance at the former low of 1.2558 where we also see a dense cluster of lines including the previous monthly low, the Fibonacci 38.2% one-day, the Fibonacci 23.6% one-day, the Simple Moving Average 5-4h, and the Bollinger Band 1h-Middle.
Further resistance is close. At 1.2582 we find the meeting point of the Fibonacci 61.8% one-day and the previous weekly low.
Immediate support awaits 1.2535 where we see the convergence of the BB 15min-Middle, the SMA 5-15m, the previous daily low, and the SMA 10-1h.
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