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EUR/USD Breaks Above 1.20 as US Dollar Losses Intensify, DAX 30 Keeps Record Highs Key Talking Points: EUR/USD picks up pace on the back of USD weakness US and European stocks continue to push to record highs boosted by stronger than expected inflation and retail sales in the US, suggesting that the economy is growing strongly. The DAX 30 was able to break away from its constrained range and is now above the 127% Fibonacci extension (15,424) which I had mentioned previously as the next likely target. Advertisement The current backdrop is still supportive of the stock market as the massive a...

USD/JPY At Risk of Falling Below 108.00 as US Dollar Continues to Slide Key Talking Points: USD selling pressure intensifies as bond yields retrace A strong earnings season and falling yields are causing the US Dollar to slide even further, with the Dollar Basket about to slip below the 91 mark for the first time since March 3rd. The safe haven’s performance in the short-term is likely to continue underpinned by the behavior in yields, and with market participant’s now trusting the Fed’s message of unchanged policy in the foreseeable future, the weakness in the US Dollar could still las...

British Pound (GBP) Forecast: Headwinds Persist - EUR/GBP Poised to Continue Bullish Trend Key Talking Points: The Pound faces short-term risks which are putting pressure on an overly optimistic start of the year EUR/GBP buyers consolidate further upside momentum With supply issues causing the UK vaccination campaign to fall off track some of the Pound’s appeal has worn off. But the loss of its vaccine-related advantage is not the only cause for concern for the British currency as it faces other headwinds in the short term. There is also a rise in tensions in Northern Ireland as unionists g...

Key Levels to Watch: EUR/USD Gears Up for 1.20, DAX 30 Unable to Break Tight Range Key Talking Points: EUR/USD targets 1.20 as positive sentiment flows into the common currency amid Dollar weakness The DAX 30 had a shaky finish to yesterday’s session as the listing of Coinbase on the Nasdaq saw some robust selling pressure as trading got underway. Equities have been on a strong uptrend since the beginning of March when economic data was showing strong improvements and bond yields were calming down after a wild ride in January and February. Advertisement The current backdrop is still suppor...

Dogecoin Explodes and Leads the CryptoMania Ahead of Coinbase DPO, Bitcoin Cash Surges Key Talking Points: Expect the crypto market to be highly volatile during today’s session The crypto market is booming this morning ahead of the Coinbase direct listing on the Nasdaq, with Dogecoin (DOGEUSD) leading the gains, surging over 80% to almost 14 cents per coin just before the London market open. The “memecoin” was originally started as a joke to mock the craziness of the cryptocurrency market, but in a similar fashion to the Wall streets Bets Reddit frenzy last month, investors were determi...