Last week was positive for USD due to few main fundamental factors. First of all, positive negotiations between US and China. Also Fed chair Powell expressed optimistic view on US economy. And finally GDP data were better than expected. But there is a trick. Do you know most of these forecasts are done by banks? – Well, now you know it for sure. If you monitor forecasts, you should notice how sometimes they change a few times before data (like GDP last week). Nothing mysterious about it – banks make better conditions for their positions.
EUR/USD was consolidating and reached the 1.14200 range as per my previous EUR/USD analysis. At the beginning of this week I think we will see more choppiness before impulsive wave will start. My swing targets are still the same – 1.12300, 1.11600, 1.11200.
This weekend I got many questions from my followers about gold. Guys, the dollar will continue its uptrend. So, expect the bearish trend in Gold. However, don’t jump into shorts right now. After the big drop last Friday Gold needs a pullback. So, watch 1305 – 1320 range for short signal.

Wishing you a great week!

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