Week 50 Midweek Update

Expert
GBPUSD reacts to Vote of No Confidence in PM May
AUDUSD consolidation
NZDUSD at resistance
AUDNZD rebounds from below key target and sends bull signal
GBPAUD base effort
GBPNZD bear trend ending.

Latest News

Euro vulnerability

A Euro plunge in the latter part of last week, on Friday driven by very weak German Purchasing Managers’ Index data. Furthermore, the US Dollar has seen broader strength again on Thursday-Friday against many major currencies, after US$ weakness was seen immediately after a far more dovish Federal reserve at their meeting on Wednesday. This … Continued

EURUSD Still stumbles at the 200-day MA

The Euro was the weakest currency on Friday The EURUSD cannot break above to 200-Day Moving Average There may a small bounce on Monday morning As European slides into recession EURUSD will fall to 1.1000 The 200-day moving average (200 DMA) has continued to prove a stubborn barrier to the upward path of EURUSD. This … Continued

Current Market Analysis
Euro breaks down, GBPCAD threatens upside

US Dollar Index holds support and rebounds EURUSD seeds multiple negative signals, downside risks GBPUSD sends buy signal GBPCAD sets up more bullish AUDUSD negative and USDCAD buy signal USDTRY and USDBRL surge

SP500
US equities surge back higher

A surge back higher for the major US equity averages on Thursday, with the S&P 500 and Nasdaq 100 hitting new 2019 peaks and five-month highs. This price action has rejected the more negative tone from Wednesday after the Fed indicated a far more dovish tone than anticipated. The main drive to the upside has … Continued

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