USDJPY currency pair can be expected to rise further toward the next resistance level 160.00, target price for the completion of the active impulse sequence (C).
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Solana cryptocurrency can be expected to fall further toward the next support level 130.00, target price for the completion of the active impulse wave (i).
EURCHF currency pair can be expected to rise further toward the next major resistance level 0.9840, which stopped the pervious waves C and B, as can be seen below.
US inflation data came in hotter than expected, pressuring the Federal Reserve to potentially raise interest rates and causing the US Dollar to rise against the Euro as the Eurozone faces economic uncertainties.
Mixed US economic data and Fed rate hike uncertainty are causing volatility in the EUR/USD pair, while the Eurozone and gold prices add another layer of complexity.
US Dollar strengthens as easing Middle East tensions and strong economic data boost investor confidence, while dovish central banks and weak data weigh on the Euro.
US inflation data came in hotter than expected, pressuring the Federal Reserve to potentially raise interest rates and causing the US Dollar to rise against the Euro as the Eurozone faces economic uncertainties.
USDJPY currency pair can be expected to rise further toward the next resistance level 160.00, target price for the completion of the active impulse sequence (C).
The importance of technical analysis in investing cannot be overstated; it is a cornerstone of stock research.
Daily market updates
Forex
- Japanese Yen trades just shy of 157.00 versus the USDThe Japanese Yen (JPY) languishes near a multi-decade low against its American counterpart during the Asian session on Friday as traders keenly await the outcome of the highly-anticipated Bank of Japan (BoJ) policy meeting.
- Gold price drops as US Dollar rebounds after hot US core PCE Inflation dataGold price (XAU/USD) falls from $2,350 in Friday’s early New York session as the United States annual core Personal Consumption Expenditure Price Index (PCE) data for March has remained above estimates.
- US Dollar at session's high in PCE aftermathThe US Dollar (USD) is trading stronger in the run up to the last bit of economic data for this week, after it was all over the place on Thursday after the release of the preliminary US Gross Domestic Product (GDP) for the first quarter. The USD first
Stocks
- Alphabet Earnings: GOOGL stock adds 10% on healthy margins, new dividend, $70 billion buyback schemeAlphabet (GOOGL), the parent of Google and YouTube, is clinging to a 10% gain midway through Friday after posting spectacular first-quarter results.
- Rubrik Stock News: Rubrik scores successful IPO as backer MSFT dips before earnings rallyRubrik (RBRK), a cybersecurity firm backed by Microsoft (MSFT), saw its stock ignore the broad market downturn on Thursday to become the bright spot in a melancholy landscape.
- Meta Platforms Earnings: META sinks 10% on lower Q2 revenue guidanceThis must be "opposites" week. While Doppelganger Tesla (TSLA) rode horrible misses on Tuesday to a double-digit rally, Meta Platforms (META), the parent company of Facebook, Instagram and Whatsapp and the Oculus, produced impressive beats above Wall Street consensus after the close on Wednesday, only to watch the share price collapse by nearly 10%.
Crypto
- Offchain Labs discloses two serious security vulnerabilities in Optimism OP StackOffchain Labs announced in a tweet on X and on a Medium blog that the firm identified two serious security vulnerabilities in Optimism’s OP Stack.
- TRON gains 10% in 2024, supply of stablecoins reaches over $50 billion in Q1TRON (TRX), a blockchain-based digital platform, has seen positive growth in the first quarter of 2024, as seen in a Messari report.
- XRP hovers near $0.50 as Ripple CTO addresses concerns related to stablecoin launchRipple price (XRP) edges higher near the $0.53 level on Friday.
Commodities
- EUR/USD Weekly Forecast: Federal Reserve and Nonfarm Payrolls spell action next weekThe EUR/USD pair temporarily reconquered the 1.0700 threshold this week, settling at around that round level.
- Gold Weekly Forecast: Strength of $2,300 support is an encouraging sign for bullsGold (XAU/USD) price started the week under heavy bearish pressure and registered its largest one-day loss of the year on Monday.
- GBP/USD Weekly Forecast: Pound Sterling recovers after two straight weeks of lossesThe Pound Sterling (GBP) rebounded firmly against the US Dollar (USD), with the GBP/USD pair snapping two weekly declines in a row.
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