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.
The euro area (EA) faced a 7.4% annual inflation in April, and the European Union (EU) had an 8.1% price growth. Rates hikes are crucial for the economy to stop collapsing; still, the ECB is doing nothing but talk. Step by step, we’ll find out what will happen with Europe.
The US Fed is speeding up its monetary tightening, and crypto may experience the most challenging times since the beginning of the market. Commodities are in danger, too. Dive deeper into the most important events of next week!
Last week was bearish for risky assets such as stocks, oil, gas, and crypto. Will the upcoming week change the situation across the markets? Let’s look at it in detail!
US stocks have delivered their worst first half of a year in more than 50 years triggered by the Fed's attempt to control inflation and growing concerns about recession.
The value of the US dollar continues to rise, but is this because of the strength of the dollar itself or just the weakness of the euro, Japanese yen, and British pound?
Since the beginning of the year, the US dollar index has been up 8…