![Forex fundamental analysis strategy combined with technicals to select best trades [Video]](https://editorial.fxstreet.com/images/TechnicalAnalysis/ChartPatterns/Candlesticks/foreign-exchange-market-chart-24347573_XtraSmall.jpg)
AUD/USD favours extra retracements in the short term
AUD/USD kept the negative stance well in place and briefly broke below the key 0.6400 support to clinch a new low for the year on the back of the strong dollar and mixed results from the Chinese docket.
EUR/USD now shifts its attention to 1.0500
The ongoing upward momentum of the Greenback prompted EUR/USD to lose more ground, hitting new lows for 2024 around 1.0600, driven by the significant divergence in monetary policy between the Fed and the ECB.
Gold aiming to re-conquer the $2,400 level
Gold stages a correction on Tuesday and fluctuates in negative territory near $2,370 following Monday's upsurge. The benchmark 10-year US Treasury bond yield continues to push higher above 4.6% and makes it difficult for XAU/USD to gain traction.
Bitcoin price defends $60K as whales hold onto their BTC despite market dip
Bitcoin (BTC) price still has traders and investors at the edge of their seats as it slides further away from its all-time high (ATH) of $73,777. Some call it a shakeout meant to dispel the weak hands, while others see it as a buying opportunity.
Friday's Silver selloff may have actually been great news for silver bulls!
Silver endured a significant selloff last Friday. Was this another step forward in the bull market? This may seem counterintuitive, but GoldMoney founder James Turk thinks it was a positive sign for silver bulls.
DEEPER DIVE
Cyclical outlook: Known unknowns
In the US, the latest Survey of Professional Forecasters (SPF) of the Federal Reserve Bank of Philadelphia paints a rather upbeat picture of the economic outlook. A similar survey of the ECB points towards a gradual pickup in growth this year.
Building the future
There is a construction boom underway that is quietly transforming the production capabilities and other aspects of the US economy. The fastest-growing category within nonresidential construction in recent years has been manufacturing.
Addressing the public debt challenge in the EU
Recently an agreement has been reached between representatives of the European Council, the European Parliament, and the European Commission on a new economic governance framework.
FXS Signals
Technical Confluences Detector
XAU/USD aiming to re-conquer the $2,400 level Premium
XAU/USD extends its recovery on Tuesday, approaching the $2,400 threshold mid-American session. Gold started the week on the back foot, sliding towards $2,324.12 on Monday, but slowly recovered the ground lost amid a persistently sour market mood.
Market players keep dropping bets on a Federal Reserve (Fed) rate cut in July, currently betting on a roughly 41% chance of happening. Strong United States (US) data coupled with concerns about the Middle East conflict between Iran and Israel will push inflation back up amid upward pressure in oil prices.
CRYPTOCURRENCIES
PancakeSwap loses nearly 3% value intraday as the DEX crosses $1 billion in trade volume
Decentralized exchange (DEX) PancakeSwap (CAKE) announced in an official tweet that it has crossed $1 billion in trade volume on the Layer 2 chain, Base. CAKE on-chain metrics support the thesis of a recovery in the DEX token’s price.
Shiba Inu hits new milestone, over $9 billion worth of SHIB tokens burnt
Shiba Inu (SHIB), the second-largest meme coin in the crypto ecosystem, recently hit a milestone in the volume of tokens burned. Shiba Inu has burnt over 410.72 trillion SHIB tokens since the inception of the burn mechanism in the project, worth over $9 billion.
Dogwifhat crashes 60%, but here's why you should not buy WIF yet Premium
Dogwifhat (WIF) price shows a slowdown in the bearish momentum as it sets up a potential range. This development could lead to a good buying opportunity from a long-term perspective.
XRP struggles to overcome $0.50 resistance, SEC vs. Ripple could enter final pretrial conference
XRP is struggling with resistance at $0.50 as Ripple and the US Securities and Exchange Commission (SEC) are gearing up for the final pretrial conference on Tuesday at a New York court.
THE STOCK OF THE DAY
DJT loses grip as dilution comes back in focus Premium
Trump Media & Technology Group (DJT), the social media platform owned by former president and current presidential candidate Donald Trump, sank precipitously on Monday in a sign that retail sentiment regarding the meme stock may be short-lived.
ECONOMIC CALENDAR
WEEKLY FORECAST
EUR/USD: The return of King Dollar Premium
The USD soared this week, sending EUR/USD to its lowest since November. Hotter-than-anticipated inflation in the United States (US) was the main reason behind the renewed strength of the USD, although it was not the only one.
GBP/USD: Pound Sterling extends losses on mounting geopolitical tensions, BoE-Fed divergence Premium
The Pound Sterling (GBP) resumed its downside against the US Dollar (USD), sending the GBP/USD pair to the lowest level in four months below 1.2500.
US Dollar: Touching five-month highs as Fed rate cuts are likely to be delayed again Premium
The Greenback advanced for the third consecutive session on Friday, taking the USD Index (DXY) just beyond the 106.00 barrier, an area last traded in early November.
Gold: XAU/USD pays no mind to USD rally, sets historic highs Premium
Gold price (XAU/USD) looked like it was on the verge of a deep correction on Wednesday but it gathered bullish momentum in the second half of the week, advancing to a fresh all-time high above $2,400.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.
Week ahead – More inflation data on the way as rate cut bets thrown into disarray
CPI numbers due in the UK, Japan, Canada and New Zealand. China to also come into the spotlight as Q1 GDP eyed. US retail sales to kickstart the week as earnings season gets underway.
_Nano.jpg){kind=small}
