Reasons behind the USD's advance, the earnings season in the United States, the outlook for EUR, JPY, Apple, Amazon, and more in this video!
EUR/USD: forecast for May 22-16
EUR/USD broke above the weekly Ichimoku Cloud, which is currently acting as support at 1.1057. The triple bottom with the neckline around 1.0830 allows an expansion to 1.1300 and probably further. The euro rose past 61.8% Fibo of 2016 decline at 1.1130. The next Fibonacci level is located at 1.1350.
This week, we will continue monitoring the developments in the stock and commodity markets as tensions between Ukraine and Russia and Fed’s tightening cycle remain the main issues driving the markets.
Check the big and important update for Forex and commodities' traders
Gold is about to break the most significant support. The US dollar index keeps gaining momentum. However, the situation might change this week, and we might see a tiny correction. Investors might return to risk-on and push the US stock market indices and cryptocurrencies to the upside. These and more trade ideas are in our new weekly video! Do not miss it!
This week is likely to be pivotal for many assets, including gold, USD, and several stocks. However, we need to be focused and react fast to the ever-changing environment to get the most from it.
This week, the majors will be affected by the interest rate decision by the Federal Reserve, NFP, the BOE Meeting, and more events.