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Now, let's get into today's one-month special edition...

Market sentiment remains jaded following last week’s taper tantrum, sparked by a hawkish turn in US Fed expectations revealed during the scheduled FOMC

Volatility has cooled off, and we begin to see glimmering signs of resurfacing risk appetite as participants re-evaluate their forecasts and exposures.

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Before looking at the charts, it is essential to note that the Bank of England (BoE) will be announcing their expectations tonight (21:00 AEST) and will likely follow a similar tone to the Federal Reserve. 

If this occurs, the Pound sterling ($GBP) will see some upside momentum as the BoE steps through the taper talk window with revised interest rate adjustments.

Q's Trading Idea: GBP/USD 

Mapped below using the M30 GBP/USD chart, the pair's performance depends entirely on the outcome of tonight's announcement. 

Pound sterling, GBP/USD - 30 Minute (M30)

Q's Trading Idea: Bitcoin, Gold, and Silver 

Following on from Technical Outlook Edition #30 (23/06/2021), let's extend this research and see our forecasts for the assets below:

Bitcoin, BTC/USD - 4 Hour (H4)

Gold, XAU/USD - 4 Hour (H4)

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Silver, XAG/USD - 4 Hour (H4)

Q's Conclusion

Commodities, cryptocurrency, and some risk-on currencies all look to be possibly gearing up for a bullish reversal. 

Remain vigilant for bullish re-tests and monitor how the markets react to the upcoming BoE meeting later tonight.

See you again for the next update.

- q

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