The way to make money is to buy when blood is running in the streets.
USD
EUR/USD
The Single currency edged lower to $1.1283 despite ECB President Christine Lagarde defended the ECB’s proportionate policies last week at a hearing in the European Parliament.
GBP/USD
The Pound continued its quest above $1.2700 helped by indication of rebounding UK consumer demand.
USD/JPY
The Yen extended big overnight gains to a week-high of 108.03 against the greenback as investors weighed the possibility of a yield curve control from the Fed which meets on Tuesday and Wednesday.
AUD/USD
The Aussie swiftly retreated from milestone peak at $0.7041 this morning amid renewed US dollar demand as Australian-China tensions continue to linger.
USD/ZAR
The South African Rand soared to 16.72 per dollar as carry trade attraction and optimism for trade in South Africa’s commodity markets serve to underpin the unit.
USD/MUR
On the domestic market, the USD/MUR slipped to 40.10(selling) this morning pressure by BOM’s intervention yesterday.
18:00 - USD - JOLTs Job Openings (Apr)
- From an Elliott Wave standpoint, USDCHF could potentially unfold into compelling impulsive Wave C of the zigzag correction of Wave (2) to a narrowing region 0.9550 (50% retracement of Wave (1)) to 0.9395 (100% projection of Wave A through B) in the near term trend, from the downside bias from April 6th high of 0.9797.
- Price could immediately start to shoot back up into Wave (3) on a longer perspective.
- Piercing above the resistance 0.9905 would endorse the structure.
- Alternatively, broader bearish invalidation of Elliott Wave Structure rest at 0.9191 of March 9th low while Relative Strength Index signals a bullish recoil higher for the pair.
