The UK elections resulted in May losing her parliamentary majority. She continues holding onto power thanks to a controversial coalition with the DUP, a small reactionary party. Her grip on power seems to have weakened, with criticism coming from everywhere. So far, she has sacrificed her closest aides: Nick Timothy and Fiona Hill. Brexit negotiations [...]
The post GBP/USD recovers, capped by resistance and looks vulnerable appeared first on Forex Crunch.
EUR/USD was carried away to the downside by the pound after the UK elections. Where will it go next? The team at SocGen sets targets and notices an interesting pattern: Here is their view, courtesy of eFXnews: Societe Generale FX Technical Strategy notes an inverted head-and-shoulders pattern on EUR/USD weekly charts. Such a pattern, according [...]
The post EUR/USD: L-Term Inverted H&S: Validation Levels & Targets – SocGen appeared first on Forex Crunch.
After Super-Duper Thursday, we will see some further reaction before the focus shifts to the Fed. The highly anticipated June decision will likely result in the third rate hike in six months. But given some weakness in the economy, will the Fed hint about a break? A lot depends on the dot-plot and on Janet [...]
The post The week ahead: All about the (dovish?) Fed hike appeared first on Forex Crunch.
