Yohay Elam | TalkMarkets | Page 85
Contributor's Links: Forex Crunch
Yohay Elam has been into forex trading for over 5 years, and shares the experience and the knowledge accumulated after taking a short course about forex. Like many forex traders, Elam has earned the significant share of his knowledge the hard way. Macroeconomics, the impact of news on the ...more

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NFP Quick Analysis: Slow Hiring Downbeat For The Dollar, Good For Gold, No Silver Lining
A V-shaped recovery? White House adviser Larry Kudlow still touted a rapid bounce – but the shape of the labor market already looks like an L. The sharp fall due to coronavirus is turning from a temporary shutdown into more permanent job losses.
GBP/USD Forecast: Worries About Jobs Go Both Ways, Weighing On Bulls, All Eyes On NFP
GBP/USD has already more than erased gains related to the Bank of England’s optimistic message. The “Old Lady” upgraded its 2020 growth forecasts and hinted negative rates are off the agenda for now.
EUR/USD: Are Bulls Still In Control? Highly Uncertain Non-Farm Payrolls To Determine
Euro/dollar is trading above the 50, 100, and 200 Simple Moving Averages on the four-hour chart, and benefits from upside momentum. The Relative Strength Index has moved away from the 70 level – further away from overbought conditions.
GBP/USD: Eyeing 1.32 As Bailey Balks At Negative Rates, Dollar Weakness Set To Resume
Cable is defying the dollar’s attempt to recover from two blows on Thursday. ADP’s jobs report showed a meager gain of 167,000 jobs, much lower than 1.5 million expected.
EUR/USD: Ready To For A New Really? Another Poor US Figure Could Spark The Next Surge
EUR/USD failure to hold onto the break above 1.1909 does not take away from its bullish bias.
GBP/USD Forecast: Rising Only Due To Dollar Weakness May Reach Its Limit, Selling Opportunity?
Cable’s latest upswing is not driven by momentum – which remains negative on the four-hour chart. On the other hand, GBP/USD is trading above the 50, 100, and 200 Simple Moving Averages, a tailwind for the currency pair.
EUR/USD: At An Inflection Points, Three Things To Watch
The downside is denied to EUR/USD bears – but can bulls return to dominate? After topping 1.18, the world’s most popular currency pair is now at crossroads – both fundamentally and technically, and fundamentally.
GBP/USD: Dead Cat Bounce, UK Coronavirus Curve Set To Pressure Pound
Pound/dollar has risen from the lows near 1.30 but failed to stage a meaningful recovery. This “dead cat bounce” pattern – as well as setting lower highs – is pointing to weakness.
GBP/USD: London Lockdown Fears, Channel Loss And Other Factors Point Lower
It is only a worst-case scenario – the words of British officials, trying to calm fears of a strict siege on London. Nevertheless, the UK’s situation seems to be going in the wrong direction; a “major incident” has been declared in Manchester.
GBP/USD Forecast August 3-7 – Pound Hammers Dollar, Climbs Above 1.30
GBP/USD jumped 2.2% last week, as the pair enjoyed its strongest week since March. The upcoming week has five events, including the Bank of England rate decision. Here is an outlook for the highlights and an updated technical analysis for GBP/USD.
USD/JPY Forecast August 3-7 – Yen Pushes Close To 104 Level
Dollar/yen slipped close to the 104 line during the week, but managed to recover on Friday. On the fundamental front, Japan’s GDP is expected to fall for a third quarter, with a forecast of -0.7%. Analysts are braced for poor spending data for June.
AUD/USD Forecast Aug. 3-7 – Aussie Hits 18-Month High
AUD/USD posted slight gains, recording a winning week for a sixth consecutive time. The pair climbed as high as 0.7227, its highest level since February 2018. The upcoming week has eight events, including retail sales and the RBA rate decision.
USD/CAD Forecast Aug. 3-7 – Flat Despite Strong Canada GDP
Canada’s GDP bounced back nicely in June, with a gain of 4.5%. This followed a dismal decline of 11.6% beforehand.
EUR/USD Forecast August 3-7 – Euro’s Surge Continues
EUR/USD showed strong gains for a third successive week last week, as the pair briefly punched above the 1.19 level. There are six events in the upcoming week, including retail sales and PMIs. Here is an outlook at the highlights.
GBP/USD: Northern Lockdown For The Pound? Extremely Overbought Conditions Can Trigger Fall
The Cable broke above the uptrend channel that had accompanied it since last week, but this move may prove unsustainable.
US GDP: Could Have Been Worse, But Will Not Improve, Winners And Losers In Markets
The US economy shrank by a historic 32.9%, better than expected. Coronavirus continues raging in America in the third quarter, setting the stage for a prolonged recession.
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