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USD
EUR/USD
The Shared currency surged to $1.1792 on Friday after a sharp fall in. U.S. consumer confidence lessened the likelihood of a tighter U.S. Federal Reserve monetary policy.
GBP/USD
The Cable climbed to $1.3856 on U.S dollar weakness, but gains were capped due to fears of Delta covid variant spread.
USD/JPY
The Japanese yen soared to 109.44 versus the greenback amid firmer Japan GDP data and downbeat Treasury yields.
AUD/USD
The Aussie dollar modestly gained to $0.7343 with the Reserve Bank of Australia due to release the minutes from its latest meeting tomorrow morning.
USD/CAD
The Canadian dollar lost ground to 1.2535 against the U.S dollar as crude oil sideways price action failing to provide a directional clue to the commodity-related loonie.
USD/ZAR
South Africa's rand strengthened to 14.73 per U.S dollar on Friday, after a survey showed U.S. consumer sentiment earlier this month dropped sharply to its lowest level in a decade.
USD/MUR
The dollar rupee dragged down by 5 cents to 42.90(selling) following intervention from the central bank on Friday.
EURGBP appears to be riding into a corrective wave A-B-C after completing 5 waves to the downside. Yesterday, we observed an impulsive break out of wave B channel which could lead EURGBP towards final wave C as per Elliott wave analysis. we remain bullish on EURGBP with stop loss below 0.8500 targeting 0.8757 , 0.8826 and ultimately 0.8915.
After rallying towards a high of 156.07 end of May 2021, we saw a three wave corrective move to the downside in GBPJPY which possibly could be the end of a corrective wave A-B-C before a new high is formed or possibly part of a larger corrective combination wave W-X-Y as per Elliott wave perspective.
127% appears to be good level for short term rebound to the upside.
Approaching 149.00/149.10 could be an opportunity to long the market with stop below 148.30 with targets levels 150 , 150.71 and 151.70.
