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EU v Trump Trade War to Strike up Again and EOS Back to All Time Highs Alone

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Hey guys,

Just a quick Saturday market update before I head out the door this evening.

Being a Saturday, I’m not feeling inspired to write a whole lot today, but with so much happening I feel condemned to get this blog out.

Enjoy your weekend guys. I know I sure will!

🍺🍷.




Market Overview

For a Saturday, there’s a bit going on in the world, isn’t there! Don’t these world leaders who are moving markets know that it’s the weekend?!

Well I guess that if you asked Kim Jong-un then he’d tell you that every day of the week in North Korea is so amazing that it may as well be a weekend.

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This was the moment that Jong-un stepped across the DMZ and into the south. Moon even took his hand and stepped into the North. Something unscripted if you ask the Japanese.

They’ve discussed peace and ending the decades long war that the countries have technically still been at with one another. They even spoke about denuclearisation!

But realistically, all this was just a facade and won’t have a meaningful impact on markets next week. Kim just wants to smile and squeeze all he can from the economic sanctions he finds his country under.

What will move markets next week though is Trump’s decision to extend their trade tariff deadline on countries that have been exempted past May 1. They have of course set import tariffs of 25% on steel and 10% on aluminium.

There are plenty on the list, but the one that markets really care about is with the European Union. The EU have some leverage of their own through their own important from the US, so there should be quite the battle here.




Forex Markets

This obviously will effect the Euro and while I posted this daily chart in yesterday’s market update:

EUR/USD Daily

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I wanted to actually just share this monthly level:

EUR/USD Monthly

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While price has dropped out of the daily/weekly resistance zone, I just wanted to highlight that price is coming into a bit of a monthly buy zone.

Which will be more significant? Time will tell.




Cryptocurrencies Markets

I just want to wrap things up with a look at crypto and our boy Dan Larimer’s baby, EOS:

EOS/USD Daily

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BOOM! 💥

EOS straight back to it’s all time highs. How fucking good is that! And what it does show is some serious strength.

Look at where Bitcoin is on the other hand:

BTC/USD Daily

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I hope you’re still in your EOS longs! EOS EOS EOS. Seriously, wow.

✌🏻.




@forexbrokr | Steemit Blog

Market Analyst and Forex Broker.

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Twitter: @forexbrokr
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