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US Dollar Forecast: Greenback Takes Aim At FOMC After Weak Retail Sales
Article By:
DailyFX
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Saturday, May 15, 2021 1:48 PM EDT
A much hotter-than-expected consumer price inflation (CPI) print roiled markets and saw a wave of strength carry the greenback higher last week. However, a softer-than-expected retail sales print sapped strength into the weekend.
In this article: UUP
Watch Out As Gold Appears To Be Staging New Momentum Base In Preparation For A Big Upside Move
Article By:
Chris Vermeulen
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Friday, May 14, 2021 10:14 PM EDT
Although Gold has continued to drift downward after reaching a peak near $2089.20 in early August 2020, this weakness has actually built a very strong momentum base – preparing for a big move higher.
FX Traders Unfazed By Weak US Data As Recovery Prospects Grow
Article By:
Kathy Lien
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Friday, May 14, 2021 11:37 AM EDT
The Canadian dollar is one of the strongest currencies because the Bank of Canada, being one of the first to taper sent a very strong signal to the market about confidence in their recovery.
EUR/USD Approaches Key Resistance At 1.2150 Decision Zone
Article By:
Chris Svorcik
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Friday, May 14, 2021 9:21 AM EDT
The EUR/USD has made another bullish bounce at the 21 ema zone after breaking the resistance trend line (dotted orange). Price action, however, is reaching a critical resistance zone.
USD/JPY Shows Strength As The Move Up Continues
Article By:
Nenad Kerkez
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Friday, May 14, 2021 7:46 AM EDT
The USD/JPY is making a bounce-off in the POC zone after the positive CPI and PPI numbers.
GBP/USD: Virus Variant Concerns And The American Shopper May Push Cable Below 1.40
Article By:
Yohay Elam
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Friday, May 14, 2021 5:38 AM EDT
Make or break at 1.40? Pound/dollar’s first brush with that line after the big breakout resulted in a bounce. Nevertheless, momentum on the four-hour chart has turned to the downside, raising the chances of a downfall.
EUR/USD: Only A Dead Cat Bounce? US Retail Sales May Trigger A Downfall To 1.20
Article By:
Yohay Elam
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Friday, May 14, 2021 3:48 AM EDT
Momentum on the four-hour chart has turned negative, but the currency pair has managed to surpass the 50 and 100 Simple Moving Averages (SMAs). Euro/dollar seems to be looking for a new direction.