Analysis and trading tips for EUR/USD on May 29

Analysis of transactions and tips for trading EUR/USD The price test of 1.0744 coincided with the time that the MACD line moved up from zero. However, instead of a large increase, pressure returned after the pair rose by only 10 pips. Euro fell on Friday as latest data in the US indicated another growth in […]

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Technical Analysis of Daily Price Movement of S&P 500 Index, Monday May 29, 2023.

With the price movement in the channel that dips upwards and the two Moving Averages which are still in Golden Cross condition on the daily chart, we can see that Buyers are still dominating the S&P 500 index so that in the next few days #SPX has the potential to appreciate an upward rally up […]

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Overview of the GBP/USD pair on May 29th. There are still no reasons for the pound to rise

The GBP/USD currency pair made another attempt to correct slightly higher on Friday, but it failed to do so. Once again, the price couldn’t even reach the moving average line, so the overall downward movement continues confidently. Unfortunately, as we have already mentioned, trading on the 4-hour time frame is extremely problematic because the movement […]

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Overview of the EUR/USD pair on May 29. The ECB is not going to refuse to raise rates

The EUR/USD currency pair continued to trade with weak volatility and a downward bias on Friday. At present, the market is in a somewhat paradoxical situation. There is a clear and strong downward trend, but the pair moves within 50-60 points per day, decreasing by approximately 20 pips daily. On the one hand, we have […]

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Forecast for EUR/USD on May 29, 2023

EUR/USD: Last Friday, the euro traded within a range of 56 pips, closing the day at the opening level. The resistance of the target level at 1.0736 and the embedded line of the price channel were tested. Today, the price is not willing to repeat what it did on Friday, but the small convergence with […]

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Forecast for GBP/USD on May 29, 2023

GBP/USD: On Friday, the price tried to test the resistance of the MACD indicator line on the daily chart, but it failed. This pattern often leads to a resumption of the decline rather than a repeated attempt to overcome this line. If the main scenario unfolds and the price breaches the support level of 1.2273, […]

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Forecast for USD/JPY on May 29, 2023

USD/JPY: The USD/JPY pair has surpassed the target level of 140.35. If there are no obstacles, the price will try to climb to 142.25 (the high of November 21, 2022), where the embedded line of the global price channel is also located. The emerging divergence on the daily chart can surface at any moment, and […]

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US stock market closes higher, Dow Jones gains 1.00%

At the close in the New York Stock Exchange, the Dow Jones rose 1.00%, the S&P 500 index rose 1.30%, the NASDAQ Composite index rose 2.19%. Incomes of the US population in April were expected to grow by 0.4% compared to March, spending increased by 0.8% against the forecast of 0.4%. And the consumer sentiment […]

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The euro has seen a glimmer of hope

Rumors of an imminent agreement on the debt ceiling and the normalization of market expectations regarding the fate of the federal funds rate have helped EUR/USD find a bottom. According to a Bloomberg insider, Republicans and Democrats have narrowed their differences and are approaching a deal. The bill could be voted on in Congress as […]

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GBP/JPY: pound continues to surge

Unlike GBP/USD, a completely different scenario could be seen in GBP/JPY. Despite the volatility present throughout the day, pound continues to aim for the level of 175.00, most likely due to the market mentality among most participants to buy on the dip. And considering the significant difference in interest rates between GBP and JPY, a […]

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GBP/USD: Is there a chance for a price increase?

Market players actively look out for a GBP/USD rally, as various economic uncertainties remain worldwide. An example of this could be the appointment of Jonathan Haskel as the Bank of England’s new interest rate regulator. In a recent statement, Haskel said there could be a further increase in the bank’s rate as the labor market […]

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GBP/USD. Overview for May 28. Preview of the week. And again non-farm, unemployment, and the ISM index

The GBP/USD currency pair made another attempt to correct slightly upwards on Friday, but it failed to succeed. The price again failed to reach even the moving average line, so the overall confident southward movement continues. Unfortunately, as mentioned before, trading on the 4-hour timeframe is extremely problematic because the movement is not the strongest […]

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Weekly review of EUR/USD for May 22-27, 2023

Overview : The EUR/USD pair fell from the level of 1.0830 to bottom at 1.0761 this week. Today, the EUR/USD pair has faced strong support at the level of 1.0761. But, the strong support has already faced at the level of 1.0700 and the pair is likely to try to approach it in order to […]

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Weekly review of GBP/USD for May 22-27, 2023

Overview : The GBP/USD pair continues to move downwards from the level of 1.2489. Yesterday, the pair dropped from the level of 1.2489 (this level of 1.2489 coincides with the ratio of 38.2% Fibonacci) to the bottom around 1.2372. However, the trend rebounded from the bottom of 1.2372 to close at 1.2417. The first resistance […]

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Analysis of the trading week from May 22nd to 26th for the EUR/USD pair. COT Report. The dollar cannot be derailed from its

Long-term perspective. The EUR/USD currency pair showed a downward movement again during the current week. The European currency has been falling for two consecutive weeks, practically every day. It is worth reminding ourselves that the euro has been rising like a rocket for about two months, raising questions about the reasons behind its behavior. We […]

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Technical analysis of GBP/USD for May 26, 2023

Overview : The GBP/USD pair continues to move upwards from the level of 1.2390. According to the previous events, the GBP/USD pair is still moving between the levels of 1.2390 and 1.2427; for that we expect a range of 110 pips (1.2500 – 1.2390). On the one-hour chart, immediate support level is seen at 1.2390, […]

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Technical analysis of EUR/USD for May 26, 2023

Overview : The EUR/USD pair faced strong resistances at the level of 1.0930 because this price coincided with the double top on the hourly chart since two weeks. So, the strong resistance has been already formed at the level of 1.0930 and the pair is likely to try to approach it in order to test […]

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XRP/USD: upside continuation to be activated

Ripple rallied in the short term and now is located at 0.4626. The altcoin ended its temporary drop and now it has turned to the upside as BTC/USD rallied as well. You knew from my previous analysis that XRP/USD could still jump higher despite the short-term retreat. XRP/USD increased by 5.74% from yesterday’s low of […]

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USD/CAD: 1.3663 key upside obstacle

USD/CAD Upside Reversal! The USD/CAD pair is trading at 1.3625 at the time of writing. You knew from my analysis that, after jumping above the downtrend line, the currency pair signaled an upside reversal. As long as it stays above the uptrend line, the price could extend its upwards movement. Technically, the uptrend line represents […]

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May 26, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

The pair was in an uptrend from 1.0400 to 1.0600, which prevented further losses. The rising lows at 1.1150 and 1.1750 showed that bulls were strong and could push the price higher than 1.1750. Bulls faced resistance at 1.2340, but they overcame it. However, they could not make a new high and instead repeated the […]

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May 26, 2023 : EUR/USD Intraday technical analysis and trading plan.

The EUR/USD pair fell to 0.9600, a level not seen since 2002, and then rebounded strongly, especially near this critical support level. The next resistance level at 1.0100 did not deter the bulls, who lifted the prices higher along the bottom of the shown movement channel. This led to reaching new bullish targets at 1.0250, […]

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Gold: downside scenario takes shape

The price of gold dropped again after reaching 1,957 today’s high. Now, it’s trading at 1,942 at the time of writing and it seems determined to approach and reach new lows. The bias remains bearish despite temporary rebounds. DXY’s further growth forced XAU/USD to turn to the downside again Fundamentally, the US data came in […]

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EUR/USD: deeper drop activated as expected

The EUR/USD pair plunged in the last hours and now is trading at 1.0713 at the time of writing. It’s located far below 1.0758 today’s high. You knew from my analyses, that the bias remains bearish despite temporary rebounds. The currency pair turned to the downside after the US economic data. Core PCE Price Index […]

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Bitcoin insures default risks

If the dynamics of Bitcoin in the first quarter were exciting to watch, then in April, it lost some of its shine, and in May, it turned into a boring asset. The leader of the cryptocurrency sector is lagging behind the technology companies’ index. Nasdaq Composite is growing due to the success in implementing artificial […]

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