Hey guys,
Just a quick Saturday market update before I head out the door this evening.
Being a Saturday, I’m not feeling inspired to write a whole lot today, but with so much happening I feel condemned to get this blog out.
Enjoy your weekend guys. I know I sure will!
🍺🍷.
Market Overview
For a Saturday, there’s a bit going on in the world, isn’t there! Don’t these world leaders who are moving markets know that it’s the weekend?!
Well I guess that if you asked Kim Jong-un then he’d tell you that every day of the week in North Korea is so amazing that it may as well be a weekend.
This was the moment that Jong-un stepped across the DMZ and into the south. Moon even took his hand and stepped into the North. Something unscripted if you ask the Japanese.
They’ve discussed peace and ending the decades long war that the countries have technically still been at with one another. They even spoke about denuclearisation!
But realistically, all this was just a facade and won’t have a meaningful impact on markets next week. Kim just wants to smile and squeeze all he can from the economic sanctions he finds his country under.
What will move markets next week though is Trump’s decision to extend their trade tariff deadline on countries that have been exempted past May 1. They have of course set import tariffs of 25% on steel and 10% on aluminium.
There are plenty on the list, but the one that markets really care about is with the European Union. The EU have some leverage of their own through their own important from the US, so there should be quite the battle here.
Forex Markets
This obviously will effect the Euro and while I posted this daily chart in yesterday’s market update:
EUR/USD Daily
I wanted to actually just share this monthly level:
EUR/USD Monthly
While price has dropped out of the daily/weekly resistance zone, I just wanted to highlight that price is coming into a bit of a monthly buy zone.
Which will be more significant? Time will tell.
Cryptocurrencies Markets
I just want to wrap things up with a look at crypto and our boy Dan Larimer’s baby, EOS:
EOS/USD Daily
BOOM! 💥
EOS straight back to it’s all time highs. How fucking good is that! And what it does show is some serious strength.
Look at where Bitcoin is on the other hand:
BTC/USD Daily
I hope you’re still in your EOS longs! EOS EOS EOS. Seriously, wow.
✌🏻.
@forexbrokr | Steemit Blog
Market Analyst and Forex Broker.
Twitter: @forexbrokr
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tnx for share great article
Good to hear, mate!
All interesting developments in the world! I think we're in for an exciting couple of months coming up, so I'm definitely giving you a follow so that I can stay up to date with it all!!
Thanks mate, do you trade yourself?
Hopefully see you around a bit more 😎.
No, I don't know enough to confidently trade myself. I'm still a student, so I don't really have enough spare time to get properly stuck in, but I'm slowly accumulating knowledge so that one day I'll be able to!
Sounds like you have a plan. Good luck!
The world is changing! Did you hear that the Deutsche Bank is embarrassing crypto currencies? Not sure yet what form it will take. It is a big new though. Not sure it good or bad at this stage. Any thought on it ?
What do you mean they’re embarrassing them? Sorry man.
Deutsche Bank posted on their website some positive comments about crypto, and the below link is to a discussion about it. I meant to say embracing (the spell check!). Sorry about the silly spell mistake that completely altered my communication.
Haha it’s funny how just one word can change the meaning of an entire paragraph. Thanks for sharing.
very very good post🙏🙏
thank you for share post❤
If you have time to visit my blog
You’ve copy pasted that on everyone’s blog. So no.
Nice guidance was grateful to your attention