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Stirling weakened off the backs of less than expected GDP figured (QoQ )coming in at -1.6% from a forecast of -1.5%. The previous quarter saw an increase by 1.3% German Unemployment conditions improved with the Unemployment Rated dropping from 6.0% down to 5.9% along with 38K new jobs added back to the work force. This 38K figure is consistent with the early...

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In yesterday's trading session, gold tumbled from around 1177 down to 1751. Throughout the mid New York session, gold managed to pullback some of the earlier loses and closed for the day just above 1760. Should the ADP and NPF report come in hot, that might add some additional bearish strength to the downside. Looking at the weekly chart, you can see the precious...

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With the UK extending lockdowns and the possibility of a bullish continuation with the stock market correction, it leaves this pair somewhat in a flip-a-coin scenario. This is not a way we trade. So for that reason we are not in this trade but are waiting for the right time to either buy or sell depending upon whichever direction the market decides. == TECHNICAL...

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Today German CPI is set for release at 8:00am EST with a forecast of 0.4% (MoM) for the month of June with a previous read of 0.5%. This report comes with the YoY report which is also expected to drop to 2.3% from 2.5% Later in the day, Consumer Confidence is scheduled for release at 10:00am EST with a positive forecast of 119.0 from the previous report of...

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Oil prices have been gliding higher since November, up 85 percent to about $75 a barrel for Brent crude, as global economies begin to consume more oil while OPEC Plus keeps a tight leash on output. OPEC is set to meet this Wednesday to discuss increasing the supply as economies continue to reopen. Bare in mind the Delta variant is spreading more rapidly with UK...

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With the most recent lockdown extension in Australia that happened over the weekend and a well overbought stock market, it shouldn't be much of a surprise to see this pair drop. As we know, when equities go, one of the major currencies that obtains the most attraction is the Yen in a risk-off environment. With that said, we have several downside targets to aim...

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With Australia extending their lockdown over the weekend and with the Fed's most recent optimistic outlook on the U.S economy, a potential 200 pip drop down to 0.7380 seems like a possibility. Previewing the pair on the daily time-frame, you can see the pair managed to retrace to the 38.2% retracement level of the most recent bearish impulse. This level was also...

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== LATEST NEWS OVER THE WEEKEND == 1. In a recent article, El Salvador is handing out up to $117 million worth of Bitcoin to its citizens. Nayib Bukele (El Salvador's President) spoke to the nation this week, revealing that bitcoin will become legal tender as of September 7. Nayib Bukele said that adults who download the Chivo e-wallet and go through the...

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This Thursday OPEC is expected to continue to boost output as the demand outlook continues to recover. == TECHNICAL ANALYSIS == Previewing the weekly chart above indicates we are trending in the overbought territory with RSI along with a strong resistance level that dates back to the highs in 2018 Should OPEC disappoint with their output projections, oil prices...

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The U.S NFP report on Friday will be one of the main economic events for the week ahead. Investors are looking for indications of improvement in the labor market after two months of showing weaker than expected results. With concerns over rising inflation and the strength of the recovery to the fore of investors’ minds, markets will also be looking at other labor...

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Currently not holding onto any positions but monitoring this pair waiting for the best low risk time to enter on the long side. == IN SUMMARY == Here are a few perspectives with regards to ETHUSD on the daily time-frame. Current price-action is maintaining a bearish trend but will be faced with many obstacles that may prevent this pair from further declines....

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== MARKET RECAP == Following the FOMC Meeting held on Wednesday June 16th, the greenback sored against all major currencies dropping EURUSD down to fresh monthly lows around 1.1850 The strength of the US Dollar was contributed to the hawkish undertone of potentially easing monetary policy sooner than what Fed officials thought in their previous 18 member...