I don't think about financial success as the measurement of my success
USD
EUR/USD
The Shared currency extended losses close to parity near $1.0006 amid concerns that an energy crisis could tip Europe into recession, while the U.S. Federal Reserve continues to aggressively tighten policy to curb inflation.
GBP/USD
The Cable slipped to a new 27-month low at $1.1847 amid economic fears in the U.K. and ongoing political uncertainty as candidates battle to become the next conservative leaders, leaving the market in a state of flux that undermined the pound.
USD/JPY
The Japanese yen perched at 137.37 per U.S dollar ahead of U.S. Treasury Secretary Janet Yellen's meeting with Japanese Finance Minister Shunichi Suzuki to discuss ways to strengthen further Western sanctions against Russia over its war in Ukraine.
AUD/USD
The Aussie dollar cascaded to $0.6722 on negative COVID-19 headlines in China, causing fresh pain for key Australian commodity exports, with iron ore sliding to its lowest for the year.
USD/CAD
The Loonie faded to 1.3027 per U.S dollar on a broad risk-off mood coupled with softer oil prices.
USD/ZAR
South Africa's rand weakened to 17.16 as the safe-haven dollar strengthened amid global growth fears.
USD/MUR
The dollar-rupee tumbled to 45.25 (Selling) following intervention from the central bank on the domestic market.
20:00 - USD - EIA Short-Term Energy Outlook
Past
EUR like a Deer in the headlights.
Euro has been trending lower over the last couple of months in the range of $1.06 and $1.0350. , unable to process and respond to the wicked combination of higher inflation and recession fears.
Current
Euro has pierced through key support yesterday and sank to $1.0234, its weakest since December 2002
Forecast
A dip to parity or below is in the cards.
1st target @ 0.9906 78.6% fibo retracement
2nd target @ 0.9127 88.6% Fibonacci retracement
Invalidation level @ 0.8221
Past
Double zig-zag upward correction W-X-Y
USD/MUR surged 24% from 37.05 of March 20 to 45.95 as of 6th July 22
Clear 5-wave structure since Feb 2018
Current
BOM shocking intervention higher at 45.30, a boon for U.S dollar against the rupee in the coming days.
Future
Anticipating Wave (v) of 5 of c of (Y) to end near 47.50, 161% Fibonacci projection
Invalidation Level @ 39.25
Past
After reaching a high of 51.05 (buying TT) in July 2021, the EUR/MUR failed to keep the bullish trend seen in 2020 and 2021 undermined by a falling EUR/USD since 2021.
The pair plummeted to a low of 44.61 on 13th of May 2021 before staging a recovery to 47.78 on 30th June 2022.
Future
However, the rebound on the EUR/MUR appeared short-lived as it turned south again this week
The pair could dive in the range of 43.50 and 44.50 in the coming weeks.
Invalidation level @51.05!
