Trading the news is, of course, risky but sometimes the risk is worth taking.
Daily Market Analysis
Looking for a way to bet on the weaker USD, we considered several currency pairs but the one that came to our attention was USD/SGD.
The short-term picture looks bullish, and NZD/USD will be able to reach 0.67 as long as it’s trading above 0.66.
EUR/JPY is correcting up. There’s a bullish impulse on H4.
Now we are much more certain that the pair will test lower levels.
EUR/GBP Technical Analysis The Backdrop The EUR/GBP pair has been steadily rising since May 6th as the uncertain political backdrop inside the United Kingdom continued to hurt the trading sentiment towards the British pound currency…
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Risk aversion persists and so far there are no signs that the situation will improve.
The commodity is hurt by the uncertainty about the US-China trade tension and the future of global oil demand for the rest of the year.
It's likely that the pair is going to test the closest resistance at 1.3563. If a pullback from this level happens next...
We should watch the next resistance at 1286.15 - 1295.25 as a potential target...