EURUSD 1.1108 |
USDJPY 107.78 |
GBPUSD 1.2351 |
AUDUSD 0.6666 |
USDCAD 1.3763 |
GBPJPY 133.13 |
EURJPY 119.73 |
AUDJPY 71.85 |
CADJPY 78.30 |
Silver 17.86 |
Why the Euro Broke Higher
EUR/USD finally cut through resistance in the 1.1000/20 zone on Thursday as the euro led G10 FX. USDX is on course for its biggest monthly fall of the year. The Canadian and US dollars were the laggards as risk trades dipped late on China worries. The April US PCE report and comments from Powell are due on Friday along with a Trump announcement on China. The Premium Dow30 short was stopped out at 25700, while the EURUSD long is a few pips away from 200-pip gain. Today's Premium FX trade is currently 130 pips in the green. Below are screenshots from Ashraf's WhatsApp Broadcast Group, whose members received a trade heads-up alert nearly 1 hr before the actual trade was issued to the Premium Subscribers.
Click To Enlarge
Although I am not sure if we will reach new lows, but i would expect the market to tank again before new highs in the longer run will be reached.
+ dollar to gain strength when ISM keeps dropping
+ dollar denominated debt increasing dollar demand
+ important for euro to drop in value to loosen financial and credit conditions domestically
+ dollar = safe haven