Financial Digest

Weekly Forex Forecast \u2013Gold, EUR/USD, USD/JPY

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Last week the USDJPY currency pair printed a bearish near-hammer candlestick with a healthy range : Forex Trading Forecast

a long trade in Silver against the US Dollar following a daily close above $24.15, long of Gold in USD terms and the EUR/USD currency pair, and short of the USD/JPY currency pair also. The Silver trade did not set up, but Gold in USD terms gained by 2.32%. The USD/JPY currency pair ended the week higher by 0.77%, and the EUR/USD currency pair ended the week lower by 0.56%. These trades gave an averaged win of 0.36%, so it was a good call overall.

Although there has been a backdrop of generally falling inflation over recent months, data last week showed that Eurozone core inflation rose to a record high of 5.2%, causing some concern and raising expectations that the ECB will make a strong rate hike at its next meeting.

 

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