Forex Signals Brief June 8: BOC Surprise 25 bps Hike Sends CAD Higher
Skerdian Meta • 3 min read
Yesterday’s Market Wrap
Today’s Market Expectations
Today started with the Final GDP and the GDP Price Index from Japan which were little changed from the previous reading. The Eurozone Revised Q1 GDP is expected to fall flat at 0.0% from 0.1% previously. Later we have the Unemployment Claims from the US which are expected at 236K and the Swiss Nation Bank chairman Jordan holding a speech.
Forex Signals Update
Yesterday the USD was retreating lower, following the price action from Tuesday, and our sell signal in EUR/USD closed in loss. But, we remained long on the USD which paired off as the buyers returned and the Buck surged higher. We closed three trading signals in profit after that, which gave us a good win/loss ratio.
GOLD Stagnating Today
XAU/USD – Daily chart H4
MAs Keeping EUR/USD Down
BITCOIN Finding Resistance at the 50 SMA
BTC/USD – Daily chart
The 100 SMA Holding for ETHEREUM
In recent weeks, the buying pressure for Ethereum has slowed down, and we have witnessed a retreat in its price over the last few days. However, the correction appears complete as the 100 SMA (green) held as support for ETH/USD and buyers pushed the price above the 50 SMA as well. Now it seems that this moving average has turned into support.