Monday Market Review: Gold’s Triangle, Dollar Strength & USD/JPY Defying BOJ
In today’s market review for Monday, May 11th, we analyze the start of a new trading week. We have a moderate news calendar, kicking off with US Existing Home Sales today and highly anticipated US Inflation data on Tuesday.
The main theme across the board is the global strengthening of the US Dollar. We break down the EUR/USD and GBP/USD pairs, where our short setups from Friday have already delivered massive drops right at the market open. We discuss the huge pools of liquidity left below and outline selling strategies with an incredible 10-to-1 risk-to-reward ratio. Meanwhile, USD/CAD formed a beautiful weekly bullish engulfing pattern, signaling further dollar dominance targeting the 1.37 liquidity zone.
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00:00 INTRODUCTION
00:15 NEWS
00:51 GOLD
02:08 EUR/USD
04:30 GBP/USD
05:30 USD/CAD
06:32 USD/JPY
07:12 OIL
08:00 BTC/USD
08:12 U.S. MARKET
08:22 USD/CHF
09:37 CAD/CHF
09:45 AUD/CAD
09:50 NZD/CHF
09:53 AUD/NZD
09:56 EUR/AUD
10:01 EUR/CAD
10:13 SILVER
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