CommoditiesForexMarket Review

No recovery until 2022, market correction ahead

It would seem that in light of the new number of Covid-19 we had mentioned in May that we did not believe the lockdowns would end till September, well this is because we assumed logically that if we are to eradicate the virus that is what would have been required. Of course, it stands to reason those big companies that fund the government parties were likely asking the government to reopen so they would stop losing money. The result is a likely re-entering into lockdown which of course will be more devastating to the global economies than the first round.

What we will be looking for is signs of a weakened dollar, but first, we expect to see the dollar rise which will push foreign currencies towards our targets from last week and then we can re-position.

EURUSD: SELL

Our target is 1.1160

GBPUSD: SELL

Our target is 1.2170

USDCAD: BUY

Our target is 1.3740

GOLD: SELL

Our target is 1744.05

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