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This Week In Forex, Crypto, And Stocks – May 28, 2019

By 05/28/2019 No Comments


Hi investors! Here’s your 5-minute overview of the forex, crypto, and stock markets with hot stories that may have an impact on your investment strategy.

Forex Market Overview

Let’s start with the Forex Market. Last week was yet another disappointing week for the Pound. This was largely due to continued Brexit conflicts and uncertainties surrounding European elections. Ex-Prime Minister May’s decision to resign has caused the Sterling situation to become even more complicated. With the Brexit deadline looming in October, you can expect a rough summer over in the UK.

Following parliamentary elections this weekend, the Euro experienced a minor dip. The dip was much smaller than it could have been though. The elections saw rallies from both Green Parties and Nationalist-leaning parties across the continent, suggesting there will likely be some heated political clashes in the near future.

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Meanwhile, the US Dollar experienced a mildly disappointing week. This was largely attributed to mixed signals coming from the fed, more trade issues with China, and a few disappointing financial reports. North of the border, the Canadian Dollar experienced an early week rally followed by an end of week decline. Keep an eye out for the monetary policy statement coming from the BOC, which may contribute to another week of above-average market turbulence. If you’re new to forex trading, my book, Invest Divas Guide to Making Money in Forex is the best place to start.

Taking a Closer Look at USD/CAD

As I covered in the PIG last week, the USD/CAD pair appears to be moving in a long-term upward channel. It is currently approaching the 1.3577 resistance level on the monthly chart. However, on the daily time frame, the resistance is much closer, at 1.35. The pair remains above the Ichimoku Cloud across all time frames.
USDCAD Technical Analysis on Monthly Chart

USDCAD Technical Analysis on Monthly Chart – Ichimoku Strategy

If the immediate resistance level holds the price from moving higher, we could see the 4th lower high forming in the series that started back in February 2016. USD/CAD has had the tendency of moving in an upward channel for around 13 months and then dropping over the last three cycles. For a detailed investment strategy on USD/CAD and other pairs, visit your membership area on the PIG.

Crypto Market Overview

Next is the crypto market. Bitcoin enjoyed a major leap Sunday evening, moving from around $8,000 per coin to just below $9,000 per coin. This rare parabolic swing pushed Bitcoin to a yearly highpoint and also propelled investors who entered the market exactly one year ago into the green.

Because so many coins are tied to the value of Bitcoin, it was an excellent weekend for the crypto industry as a whole. Ethereum, for example, recovered from losses early in the week and eventually swung from $234 per coin to a 2019 peak of $273. Other major coins experienced similar gains.

 

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There may be some minor market retractions this week, but the crypto industry is clearly one that is moving in a positive direction. Other key stories for you to pay attention to include the European Central Bank’s consideration of digital currency as a viable option, changes in the South Korean government’s views of Bitcoin, and the ongoing promotion of crypto collectibles. As uncertainty surrounding the forex market grows, many are now considering crypto trading to be a more viable option. If you’re wondering how you can take your crypto investing to the next level, don’t forget to get your free copy of my new book, Cryptocurrency Investing For Dummies

Stock Market Overview

Last but not least is the stock market. Talks of tariffs and other global trade issues caused both the Dow and S&P 500 to have disappointing weeks. Despite beginning the month of May around $2,950, the S&P has since lost nearly 5 percent of its value. As we move into the month of June, investors are hoping that the market begins to smooth over.

After a notably down month, talks of Fiat Chrysler merging with Renault caused the stock to begin the week with an 8 percent uptick. However, within the auto industry, Tesla’s recent financials resulted in a disappointing close to the week. Other automakers, such as Ford, have also seen minor drops in value.

Elsewhere in American markets, damage to farmers from tariffs has prompted Congress to deliver a $16 billion bail-out. Though it is uncertain which companies will benefit from and which will be hurt by this bailout, you can expect increased price volatilities to be felt by those tied to the agriculture industry. We’ll keep you updated as the effects of these policies are made clearer.

I’ll be sharing my personal investment strategies for forex, stocks, and cryptocurrency in Invest Diva’s Premium Investing Group, also known as the PIG. Register for the Make Your Money Work For you MasterClass to see how you can get in the PIG.

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This brings me back to you. Which markets you’ll be focusing on this week and why? After you subscribed, head over to the comment section, give me a shoutout and let me know.

Remember that as the 4th point of the IDDA technique, you must calculate your risk tolerance before deciding on the investment strategy that is suitable for your portfolio. Don’t forget to complete your risk management due-diligence before developing your investment strategy.

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