I don't think about financial success as the measurement of my success.
USD
EUR/USD
The Shared currency swooned within a whisker of parity at $1.0005 on Tuesday after a big downside surprise in July German Zew, driven by energy supply reinforced fear of slowing eurozone growth. The focus is now on inflation as Germany, and the U.S will release updates on their respective Consumer Price indexes.
GBP/USD
The Cable regained strength above $1.1907 after UK GDP monthly release showed that the economy rebounded firmly in May, arriving at 0.5% vs 0% expectations.
USD/JPY
The Japanese yen gains capped at 136.98 against the U.S dollar amid fears over growing coronavirus infections in Japan and a wait-and-see mood ahead of the release of the U.S. consumer price index for June.
AUD/USD
The Aussie dollar rose to $0.6765 after positive Chinese exports data boosted confidence that the world’s second-largest country is seeing economic recovery as the COVID-19 curbs eased.
USD/CAD
The Loonie edged higher to 1.3017 against the greenback as the higher inflation rate in Canada bolstered the odds of a 75 bps rate hike by the Bank of Canada later today.
USD/ZAR
The South African rand strengthed to 17.01 per U.S dollar, unfazed by a downbeat South African manufacturing output data.
USD/MUR
The dollar-rupee unbothered at 45.25 (Selling).
16:30 - USD - Core CPI (MoM)(Jun)
18:00 - CAD - BoC Monetary Policy statement
18:00 - CAD - Interest rate decision
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!
