EUR/USD has a chance of bottoming or staging a larger bounce at 1.08 – BofA

.Economists at Bank of America sees scope for a bottom pattern in the making.

Since 1999 in April the euro had little seasonal tendency.”We continue to view the 1.08s as a place where the euro has a chance of bottoming or staging a larger bounce than most may anticipate.” 

“Since 1999 in April the euro had little seasonal tendency, it was weaker in May 61% of the time and stronger in June 61% of the time.”

EUR/USD fails to capitalize on hot EU inflation data.EUR/USD stays under modest bearish pressure and continues to trade near the mid-1.1000s on Friday. The data from the eurozone showed that the annual HICP inflation jumped to 7.5% in March from 5.9% in February. Investors now await US March Nonfarm Payrolls report.


GBP/USD remains below 1.3150 amid firmer USD, yields, focus on NFP.GBP/USD is keeping its range below 1.3150 ahead of the US NFP. The cautious market mood is underpinning the safe-haven US dollar amid a rebound in the Treasury yields. GBP bulls have shrugged off the upbeat UK Q4 GDP. 


Gold remains at the mercy of yields ahead of all-important US NFP Gold price is treading water as the bond rout resumes, propelling yields higher. All eyes remain on the US NFP and Russia-Ukraine peace talks for fresh cues. Gold price remains capped below the horizontal 21-DMA amid bullish RSI.  

Gold News 

This simple setup for Shiba Inu will yield 75% returns.Shiba Inu price set up a bottom reversal pattern on the daily chart, signaling a massive up move. However, the recent downtick in Bitcoin’s price has caused rallying altcoins to take a break.

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