If you don't find a way to make money while you sleep, you will work until you die
USD
EUR/USD
The Shared currency plunged to $1.0074 as Federal Reserve officials testified of the need for further rate hikes, and investors reevaluated Wednesday's minutes from the U.S. central bank's July meeting as being more hawkish than initially thought.
GBP/USD
The Cable extended its downfall to $1.1902 with immediate attention shifting to U.K. Retail Sales, with consumer spending likely to show another drop in July.
USD/JPY
The Japanese yen faded to 136.25 per U.S. dollar as the Bank of Japan has indicated that it has no plans to roll back ultra-loose monetary policy this year despite rising price pressures.
AUD/USD
The Aussie dollar slipped to $0.69 over escalating tensions between the United States and China, as Washington and Taiwan began negotiations over a trade agreement, weighed on the Asian markets.
USD/CAD
The Loonie dropped to 1.2961 against the U.S. dollar, although crude oil prices gained positive traction and moved away from a six-month low.
USD/ZAR
The South African rand extended the previous day's losses to 16.90, as the dollar bounced on investor uncertainty surrounding the pace of interest rate hikes by the U.S. Federal Reserve to tame inflation.
USD/MUR
The dollar-rupee popped by Rs1 to 46.00(Selling).
10:00 - GBP - Retail Sales (MoM)(Jul)
16:30 - CAD - Core Retail Sales (MoM)(Jul)
Past
EUR like a Deer in the headlights.
Euro has been trending lower over the last couple of months in the range of $1.06 and $1.0350. , unable to process and respond to the wicked combination of higher inflation and recession fears.
Current
Euro has pierced through key support yesterday and sank to $1.0234, its weakest since December 2002
Forecast
A dip to parity or below is in the cards.
1st target @ 0.9906 78.6% fibo retracement
2nd target @ 0.9127 88.6% Fibonacci retracement
Invalidation level @ 0.8221
Past
Double zig-zag upward correction W-X-Y
USD/MUR surged 24% from 37.05 of March 20 to 45.95 as of 6th July 22
Clear 5-wave structure since Feb 2018
Current
BOM shocking intervention higher at 45.30, a boon for U.S dollar against the rupee in the coming days.
Future
Anticipating Wave (v) of 5 of c of (Y) to end near 47.50, 161% Fibonacci projection
Invalidation Level @ 39.25
Past
After reaching a high of 51.05 (buying TT) in July 2021, the EUR/MUR failed to keep the bullish trend seen in 2020 and 2021 undermined by a falling EUR/USD since 2021.
The pair plummeted to a low of 44.61 on 13th of May 2021 before staging a recovery to 47.78 on 30th June 2022.
Future
However, the rebound on the EUR/MUR appeared short-lived as it turned south again this week
The pair could dive in the range of 43.50 and 44.50 in the coming weeks.
Invalidation level @51.05!
