Trading plan for US dollar index on May 05, 2023

Technical outlook: The US dollar index has managed to find support around the 100.50-60 zone yet again indicating a strong potential to produce a bullish reversal soon. The index is seen to be trading close to 100.85 at this point in writing as the bulls remain poised to push higher towards 102.50 and 103.70 going […]

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Bitcoin gains momentum amid weakening U.S. banking system

Over the past week, Bitcoin has experienced minimal price changes, despite high levels of volatility. The Federal Reserve meeting and its results provoked active actions by investors, but the price was magnetically pulled back to the $28.5k–$29k range. As a result, BTC ends the trading week near the $29k level, and despite the lack of […]

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Trading plan for EURUSD on May 05, 2023

Technical outlook: EURUSD has reversed yet again from the 1.1090-95 zone indicating strong resistance but needs to break below 1.0900 at least to confirm that a top is in pace. The single currency pair is seen to be trading close to 1.1025 at this point in writing as the bears are looking inclined to hold […]

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GBP/USD. May 5. Bulls do not leave the market, only strong payrolls can stop them

On the hourly chart, the GBP/USD pair rebounded from the 1.2546 level and resumed growth towards the Fibonacci level of 127.2% (1.2623). A rebound in quotes from this level will allow traders to expect a reversal in favor of the US currency and a return to the 1.2546 level. Closing above the 1.2623 level will […]

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EUR/USD and GBP/USD trading plan for beginners on May 5, 2023

Details of the economic calendar on May 4 The European Central Bank (ECB) decided to raise the interest rate to 3.75%, increasing it by 25 basis points and thus following the Federal Reserve System (Fed), which also slowed the pace of rate hikes. Despite this being the highest rate level since autumn 2008, the market […]

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RBA hopes for stronger data to avoid “policy mistake” discussion – Forex News Preview

With the market still digesting the recent central banks’ announcements, the focus in Australia now shifts to incoming economic data. Next week will give us more information on the consumer sector, with the RBA hoping that these data releases justify its recent surprise rate hike. In the meantime, the aussie would clearly love another push, […]

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Daily Market Comment – Nonfarm payrolls set to unleash more volatility

US employment data in focus today, most signs point to a solid report ECB raises rates and strikes hawkish tone, but euro trades lower Cable hits one-year high, gold near new record, Apple beats earnings NFP seems solid, can USD capitalize?  A tempestuous week for global markets will come to a crescendo today with the […]

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Technical Analysis – EURGBP selling may continue

EURGBP erased Tuesday’s fast pickup, extending its two-day decline to a new one-month low of 0.8740 early on Friday. The bulls ran out of fuel near the 38.2% Fibonacci retracement of the 0.8201-0.9249 uptrend at 0.8850 and the upper boundary of the three-month-old bearish channel, increasing speculation that a new bearish wave might be now in […]

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Technical Analysis of ETH/USD for May 5, 2023

Crypto Industry News: The former CEO of MicroStrategy, a company that invests in BTC, Michael Saylor, spoke again about cryptocurrencies. In his opinion, bitcoin adoption is now driven by, among others, by dollar inflation. Inflation Drives Bitcoin Adoption In a recent interview with CNBC, Saylor noted that there are two main drivers for bitcoin adoption. […]

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Technical Analysis of BTC/USD for May 5, 2023

Crypto Industry News: The legendary trader and analyst Peter Brandt, who became famous, among others, for from the 2017 Bitcoin price crash forecast believes that the oldest cryptocurrency will soon dominate all the others. Brandt points to an already high, bullish consolidation in the BTC.D chart, which is likely to break out higher. Bitcoin dominance […]

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Technical Analysis of GBP/USD for May 5, 2023

Technical Market Outlook: The GBP/USD pair has made another new swing high at the level of 1.2633 and is starting a pull-back cycle. The intraday technical support is seen at the level of 1.2583, so please keep an eye on this level. The momentum on H4 time frame chart is positive and strong, so when […]

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Technical Analysis of EUR/USD for May 5, 2023

Technical Market Outlook: The EUR/USD pair has been seen trading close to the last swing high located at 1.1096, so just ahead of the NFP-Payrolls data release the bulls are still in control of this market. The key short-term technical support is seen at the level of 1.0910 and any breakout below this level would […]

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Technical Analysis of Daily Price Movement of Solana Cryptocurrency, Friday May 05, 2023.

After successfully breaking down the Ascending Broadening Wedge pattern on the daily chart, it seems that the Solana Cryptocurrency is trying to gather downward momentum by making an upward correction where the Bearish Fair Value Gap level and the Breaker Block level of 22.87 are the targets to be tested by this cryptocurrency. If the […]

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What to pay attention to on May 5? A breakdown of fundamental events

Analysis of macro data: There will be plenty of macro data on Friday. This whole week has been quite saturated with fundamental and macroeconomic events, and we’re even a bit surprised that the EUR/USD pair has shown such low volatility. In general, we only witnessed a noticeable movement yesterday, but let’s go back to the […]

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What do Q1 earnings hold for Disney’s stock? – Stock Market News

Walt Disney will report its Q1 financial results on Wednesday, April 10, after Wall Street’s closing bell. The leading entertainment powerhouse is expected to post annual revenue growth, but earnings will probably suffer a moderate decline. Once more, investors will focus on Disney streaming service’s net subscriptions as well as the traffic figures from the firm’s on-site activities. Solid […]

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Technical Analysis – GBPJPY pulls back from fresh 7-year high

GBPJPY was stuck in an uptrend since the beginning of the year and generated a new seven-year high of 172.31 last Tuesday. Although the recent completion of a golden cross between the 50-day simple moving average (SMA) and the 200-day SMA induced bullish pressures, the pair experienced a downside correction. The short-term oscillators currently suggest […]

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Hot forecast for GBP/USD on 05/05/2023

Despite the fact that the single European currency initially fell slightly yesterday and then rose a bit, the pound confidently strengthened. The reason for this is that after the European Central Bank raised the refinancing rate, the focus is now on the upcoming meeting of the Bank of England’s board. There is no doubt that […]

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Analysis and trading tips for GBP/USD on May 5

Analysis of transactions and tips for trading GBP/USD The test of 1.2552 coincided with the time that the MACD line was already far from zero, so the downward potential was limited. No other market signal appeared for the rest of the day. Pound performed excellently on Thursday, thanks to the better-than-expected Service PMI data from […]

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Technical Analysis – USDCAD hovers near 1.3500 after the pullback from 1.3640

USDCAD is diving beneath the 1.3500 psychological mark and the 20-day simple moving average (SMA) after failing to jump above the 1.3640 resistance. The MACD is moving sideways near its trigger and zero lines, while the RSI is falling beneath the neutral threshold of 50. In the long-term view, the market has been still holding […]

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Will nonfarm payrolls hint at a Fed pause in June? – Forex News Preview

The Federal Reserve delivered its tenth consecutive rate hike on Wednesday, as expected, but reset its guidance to indicate increased emphasis on incoming data. Hence, Friday’s nonfarm payrolls will be the next test for the US dollar at 12:30 GMT, with forecasts pointing to a discouraging outcome. A dovish rate hike The Federal Open Market Committee (FOMC) decided to […]

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BTC update for May 05,.2023 – Channeling mode intraday

Technical analysis: BTC/USD has been trading upside this morning but I found rejection of the intraday resistance at the price of $29.400 Due to rejection of the resistance in the sideways regime, I see potential for the downside rotation today towards lower reference. Downside objective is set at $28.755 Short-term support is set at the […]

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Analysis and trading tips for EUR/USD on May 5

Analysis of transactions and tips for trading EUR/USD There was a test of 1.1053, but the MACD line was already far from zero, so the downward potential was limited. A little later, in the afternoon, there was another test, but this time it was at 1.1038 and the MACD line was just starting to slide […]

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GBPUSD analsysis for May 05 , 2023 – Rejection of the key support

Technical analysis: GBP/USD has been trading upside and I found breakout of the tight triangle pattern, which is good sign for the further rise. Due to the strong upside momentum and breakout of the range in the background, I see potential for the further growth towards next upside reference. Upside objective is set at the […]

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Analysis of Gold for May 05, 2023 – Potential for the further growth

Technical analysis: Gold has been trading upside in the background and I see potential for the further growth due to the strong upside trend and no bigger sign of weakness. Due to the strong upside momentum and breakout of the range in the background, I see potential for the further growth towards next upside reference. […]

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EUR/USD. Overview for May 5. The Fed leaves the door open for further rate hikes

The EUR/USD currency pair continued to move calmly and with relatively low volatility upward on Wednesday. The publication of the ISM or ADP index was scheduled for the evening of that day, which came out a little earlier the same day. Recall that traders ignored both of these reports, although they were supposed to trigger […]

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Forecast for EUR/USD on May 5, 2023

EUR/USD Yesterday, the European Central Bank raised the rate by the expected 0.25%, and ECB President Christine Lagarde “promised” another increase around September. In general, the ECB’s mood cooled investors’ expectations, and the euro fell by 46 points. Yesterday, the Marlin oscillator managed to record a low below the zero line (-0.0003), which, for a […]

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Forecast for GBP/USD on May 5, 2023

GBP/USD As a result of yesterday, the pound edged up, managing to reach the target level of 1.2598. Now, under the pressure of the forming divergence with the Marlin oscillator, a reversal to the support of 1.2447 (the peak of January 23) may follow. Overcoming it will enable us to test the strength of the […]

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