Dale J Pinkert
Independent Analyst
TradeGATEHub Live Trading analyzed the weakness in EUR/USD during the U.S. holiday, highlighting its relative underperformance compared to the British pound. The Coach also shared his strategy for trading the Australian dollar following the Reserve Bank of Australia's decision. Additionally, he noted the rebound in precious metals, which he believes presents a fading opportunity.
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AUD/USD: Warming up or the RBA
AUD/USD added to the move higher and rose to new two-month peaks near 0.6370 on the back of the soft tone in the US Dollar and rising expectation ahead of the RBA’s interest rate decision.
EUR/USD: Next target comes at 1.0530
EUR/USD traded in an inconclusive fashion amid the equally vacillating development in the Greenback, returning to the sub-1.0500 region following reduced trading conditions in response to the US Presidents’ Day holiday.
Gold resumes the upside around $2,900
Gold prices leave behind Friday's marked pullback and regain some composure, managing to retest the $2,900 region per ounce troy amid the generalised absence of volatility on US Presidents' Day holiday.
Ethereum Price Forecast: ETH outperforms top cryptocurrencies, sees $1.1 billion in stablecoin inflows
Ethereum (ETH) is up 1% on Monday, stretching its weekly gains to nearly 3%, while other top blockchains experience losses. The top altcoin's recent outperformance can be attributed to rising stablecoin inflows and investment from institutional investors through ETH exchange-traded funds (ETFs).
Bitcoin Price Forecast: BTC stalemate soon coming to an end
Bitcoin price has been consolidating between $94,000 and $100,000 for almost two weeks. Amid this consolidation, investor sentiment remains indecisive, with US spot ETFs recording a $580.2 million net outflow last week, signaling institutional demand weakness.
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