Yesterday’s Market Wrap
Today’s Market Expectations
Today started with the Caixin services PMI from China which showed that activity slowed down slightly, although this sector remains in decent shape, unlike Caixin manufacturing which fell into contraction yesterday. The Swiss CPI inflation remained steady at 0.2%, while the Eurozone retail sales report will be released in a while. Although the highlight of the day will be the employment reports from the US and Canada, both of which are expected to show an increase in the unemployment rate in April.
Yesterday the volatility in financial markets was low during most of the European session, but picked up after the ECB meeting, with the Euro tumbling lower. We were caught on the wrong side of EUR/JPY and EUR/GBP so we lost those two trades, but booked profit on the Gold signal and EUR/JPY sell signal later in the US session.
GOLD Remains Supported
XAU/USD – 60 minute chart
Is the Trend Changing for EUR/JPY?
EUR/USD – 240 minute chart
Cryptocurrency Update
The Trend Remains Bullish for BITCOIN
BTC/USD – Daily chart
ETHEREUM Remains Supported
ETH/USD – Daily chart
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