Market sentiment analysis:
- The ongoing dispute between the US and Iran, along with continuing concern about US-China trade relations, continues to hurt market sentiment.
- While the stock markets are holding up well, the US Dollar is under downward pressure from continuing talk of several US rate cuts this year.
Market sentiment poor
Trader confidence is low at present due to the worsening of relations between the US and Iran, as well as the ongoing US-China trade war, although stock markets are so far holding up well. Moreover, sentiment towards the US Dollar is being damaged by continuing talk of further rate cuts this year.
EURUSD Price Chart, Hourly Timeframe (June 18-25, 2019)
Chart by IG (You can click on it for a larger image)
In this webinar, I looked at the chart of all the major assets, at the sentiment data on the calendar this week, at the news driving the markets and at the technical outlook.
Resources to help you trade the forex markets:
Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:
- Analytical and educational webinars hosted several times per day,
- Trading guides to help you improve your trading performance,
- A guide specifically for those who are new to forex,
- And you can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.
--- Written by Martin Essex, Analyst and Editor
Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex
