As central banks raise rates amid recession fears and companies deliver financial results, markets are super active and provide multiple trade opportunities. Let's see what awaits traders this week!
Another EUR/USD Trade!
2021-08-18 • Updated
We sent out a signal yesterday to long EUR/USD between 1.1765 and 1.1750 with a stop at 1.1725. Unfortunately, the euro ended up the day at a 1.17 support area, triggering our stop loss. Such move comes despite the negative US retail sales data, which came in worse than expected, while all the prior data has been revised higher, which triggered a stronger USD. However, EUR/USD is holding well above 1.17, with a possible double bottom on the daily chart. Therefore, another long position at 1.1710 is worth the risk, with a stop at 1.1685, targeting 1.1748 followed by 1.1760 for now.
First, the Euro dropping below the $1 level is rare…
The US dollar gained more than 2.5% against other currencies ahead of the NFP statement on Friday. As a result, EURUSD plunged to the 20-year low at 1.0100.
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
China may respond to US House Speaker Nancy Pelosi's visit to Taiwan with military provocations, including firing missiles near Taiwan or large-scale air or naval activities…
The e-commerce giant has recently faced a lot of pressure, starting from global uncertainty in China amid lockdowns and geopolitics. The company has been added to the US SEC (Securities and Exchange Commission) delisting queue. Finally, there’s an earnings report coming on August 4. Let’s discuss everything and prepare for the next move.