TECHNICAL PRICE OUTLOOK CANADIAN DOLLAR: USD/CAD WEEKLY TRADE LEVELS

CANADIAN DOLLAR TECHNICAL PRICES OUTLOOK: USD/CAD WEEKLY TRADE LEVELS

The cryptocurrency market is a sea of green going into the weekend with Bitcoin nearing $41k, Ethereum eyeing $2.8k, and a raft of alt-coins showing high single-digit gains today.

First Friday of each month is only one thing. It's NFP Friday. Given the last 48 hours, market sensitivity has likely been increased. But firstly, to find out more on the NFP report and how to trade it, click here

NASDAQ 100 FORECAST - NEUTRAL

This week, the cryptocurrency market has seen a rise across the board with many tokens and coins seeing double-digit gains in the past seven days.

In Asia-Pacific trade, currency markets remained idle. Sluggish action in the G10 FX majors reflected a tinge of risk aversion, with the sentiment-sensitive Australian Dollar tracking lower while its anti-risk US counterpart edged up. On average, regional share prices fell by 0.3 percent.

Despite a difficult week for GBP/ US, the Pound is supported by expectations of a more hawkish Bank of England. As markets expect the Bank of England to adjust its monetary policy to better reflect current economic conditions, the lead-up to August's MPC meeting draws more attention.

READING CANDLESTICK CHARTS – TALKING POINTS

FINTWIT TRENDS

CAD/JPY TALKING POINTS

SIMPLE STRATEGY - THE BENEFITS

USD/MXN FORECAST - MILDLY BEARS

BITCOIN (BTC/USD), ETH/USD, AND ALTCOIN ANALYSIS and CHARTS

USD/JPY provides back the progress after the Federal Reserve interest rate decision since the 10-Year US Treasury return drops into some new monthly low (1.35%), and also the exchange rate seems to have reversed route before the 2021 large (110.97) since it carves a series of lower highs and lows in the June large (110.82).

USD/MXN continues to be on a strong uptrend because the US Dollar bounced back last week, helped even further by the Fed's hawkish remarks on Wednesday's FOMC assembly. The group was struggling to attain a significant break below 19.68 to the previous two months, building up bullish momentum along how dip-buying saw continuous fluctuations around the 20 pesos markers.

Over the previous 24-48hrs, market volatility has picked up (thank you Fed), USD shorts are feeling the squeeze as hot reflation trades require a hit, whereas the precious metals complex'd come under significant strain.

FUNDAMENTAL EURO FORECAST: NEUTRAL

USD/JPY strategies the May large (110.20) as Federal Reserve officials embrace a better prognosis for the US market, and the upgrade to the Non-Farm Payrolls (NFP) report will maintain the exchange rate payable as employment is expected to increase for the fifth successive month.