If you have the courage to begin, you have the courage to succeed.
USD
EUR/USD
The Shared currency trimmed the previous day's losses to $1.0004 as pressure from the dollar eased, and the euro was boosted by growing expectations for European Central Bank rate hikes.
GBP/USD
The Cable modestly gained to $1.1704, although soaring electricity and energy prices are creating havoc for the Bank of England policymakers.
USD/JPY
The Japanese yen sailed to 138.48 against the U.S dollar as data showed that Japan's unemployment rate remained steady through July despite rising economic headwinds.
AUD/USD
The Aussie dollar crawled to $0.6898 despite Australian building approvals data came in significantly worse than expected for June. Approvals plummeted by 17.2% in the month, compared to expectations of a 5% drop.
USD/CAD
The Loonie climbed to 1.3005 against the greenback on expectations that major oil producers could cut output to stall the recent fall in oil prices provided a lift to the black liquid.
USD/ZAR
South Africa's rand rose to 16.84 per U.S dollar after the dollar retreated from its latest 20-year high, as investors turned their focus to this week's U.S non-farm payrolls to gauge if U.S. interest rate hikes have been priced in around the world are justified.
USD/MUR
The dollar-rupee steadied at 44.65(Selling).
18:00 - USD - JOLTs Job Opening (Jul)
18:00 - USD - CB Consumer confidence
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!
