The consolidation that started on Wednesday is continuing so most currency pairs with the USD are going flat.
Tag - usd
The advance of S&P500 came as shares of big tech stocks rallied and reflected the trend of the past months of this year in equity markets.
The most traded pair takes a breath after reaching levels unseen since May of 2018.
Goldman Sachs claims the ZAR may rise further, if global markets keep rallying. Let’s discuss it in detail.
The sentiment is indeed risk-on today! S&P 500 surged to the all-time high, and EUR/USD jumped to levels unseen since May of 2018. Let’s have a closer look.
USD/JPY: The pair is now trading within the cloud. Any decisive movement to the south will lead USD/JPY to exit the Kumo, confirming the bearish scenario.
Most currency pairs with the USD are in consolidation currently as the USD has stalled its depreciation spree.
ER/JPY: The EUR/JPY pair is now testing the upper level of the cloud. A successful attempt to exit the Kumo will signal a new bullish sentiment.
The United States will release unemployment claims on August 20, at 15:30 MT time.
The pair slumped to levels unseen since January. What’s next?
GBP/JPY: the pair is now trading slightly above the Kijun Sen. A failed attempt to move higher will lead GBP/JPY below the Kijun Sen.
Risk-on is back on the market. The US dollar is dipping down, while riskier currencies and stocks are rising.