U.S. banking crisis worsens, but the Fed raises rates: how will Bitcoin’s role change?

On the eve of important economic events, Bitcoin was in a stable position near the $27k support level. At the same time, trading volumes and bearish activity were limited, as investors awaited clarification on the key interest rate situation. As a result of yesterday’s trading day, a large number of facts were announced, indicating the […]

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Technical Analysis of ETH/USD for May 4, 2023

Crypto Industry News: According to data from the analytics firm IntoTheBlock, only six of the top 20 NFT collections by market capitalization have seen an increase in trading volume over the past 30 days. The others recorded a significant decrease, ranging from -20% to -99%. Trading volume for the popular NFT collection CryptoPunks, which is […]

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Technical Analysis of BTC/USD for May 4, 2023

Crypto Industry News: After discovering that a small kingdom in the Himalayas, Bhutan, is quietly hoarding cryptocurrency, the country is also mining bitcoin. Moreover, a country with less than 800,000 inhabitants uses green energy to power bitcoin mining operations. Known for its focus on “gross national happiness” and scenic landscapes, Bhutan has found ways to […]

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Technical Analysis of GBP/USD for May 4, 2023

Technical Market Outlook: The GBP/USD pair has made a new marginal swing high at the level of 1.2592 and is starting a pull-back cycle. The intraday technical support is seen at the level of 1.2589 and the intraday technical resistance is seen at 1.2583. The momentum on H4 time frame chart is positive and strong, […]

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EUR/USD and GBP/USD trading plan for beginners on May 4, 2023

Details of the economic calendar on May 3 The Federal Reserve has raised interest rates to 5%–5.25%, the highest level since September 2007. “The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range […]

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Video market update for May 04, 2023

Potential for the further growth on Gold …. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:GBP/USD forecast for May 4, 2023. GBP rises following Fed’s… May 4, 2023 On the 1-hour chart on Wednesday, GBP/USD continued to rise…Technical Analysis of EUR/USD for May 4, 2023 May 4, 2023 Technical Market Outlook:The […]

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GBP/USD forecast for May 4, 2023. GBP rises following Fed’s rate decision

On the 1-hour chart on Wednesday, GBP/USD continued to rise and closed above the level of 1.2546. The pound may extend its uptrend towards the next Fibonacci retracement level of 127.2% at 1.2623. A bounce off this level may send the price lower while holding above it will open the way towards the target at […]

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Technical Analysis of EUR/USD for May 4, 2023

Technical Market Outlook: The EUR/USD pair has been seen trading close to the last swing high located at 1.1096, so the bulls are still in controll of this market. The key short-term technical support is seen at the level of 1.0910 and any breakout below this level would be a bearish pressure indication. The momentum […]

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Indicator analysis: Daily review of GBP/USD on May 4, 2023

Trend analysis (Fig. 1). The market may move downward from the level of 1.2560 (closing of yesterday’s daily candle) with the target at 1.2514, the upper fractal (blue dotted line). When testing this level, the price may move upward with the target of 1.2530, the 23.6% pullback level (blue dotted line). Fig. 1 (daily chart). […]

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Technical Analysis – WTI oil futures plummet to fresh 17-month low

WTI oil futures (June delivery) had been in recovery mode since they encountered strong support in mid-March. However, the commodity retraced lower after the 200-day simple moving average (SMA) rejected further advances, re-entering its downward sloping channel and posting a fresh 17-month low of 63.80 in today’s session before recouping some losses. The momentum indicators […]

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Technical Analysis – US 30 cash index almost ripe for a decent pullback

The US 30 cash index has once again failed to convincingly break above the 34,280 level prompting a small pullback. This is the sixth time that the bulls have not achieved an upwards breakout in the past 10 months, thus raising questions of their true ability to dictate market movements. The index is edging higher today, but […]

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Daily Market Comment – Fed hints at possible pause; ECB enters the spotlight

Fed hikes by 25bps, but turns data dependent Dollar extends slide as investors price in a June pause ECB to hike by 25bps as well, focus could fall on Lagarde Wall Street and oil prices slide, gold nearly hits its record Dollar falls as Fed seen pivoting during summer The US dollar continued to weaken […]

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Indicator analysis: Daily review of EUR/USD on May 4, 2023

Trend analysis (Fig. 1). The market may move upward from the level of 1.1059 (closing of yesterday’s daily candle) to 1.1106, the upper limit of the Bollinger line indicator (black dotted line). From this level, the price may move downward with the target of 1.1032, the 76.4% pullback level (blue dotted line). Fig. 1 (daily […]

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EUR and GBP change direction following Fed meeting

The euro and the pound have returned to their monthly highs after the US Federal Reserve raised interest rates yesterday, stating that it expects a recession to occur alongside moderate economic growth. In the accompanying statement from the Federal Open Market Committee (FOMC), it was mentioned that the US economic activity grew at a moderate […]

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Hot forecast for EURUSD on 04/05/2023

There is no point in even dwelling on the fact that the Federal Reserve System’s refinancing rate was raised by twenty-five basis points, as this decision was expected and predictable. Much more important is what Jerome Powell said afterward. Although he did not answer the question about further interest rate hikes, and even hinted that […]

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Analysis and trading tips for GBP/USD on May 4

Analysis of transactions and tips for trading GBP/USD The test of 1.2505 in the morning coincided with the time that the MACD line was already far from zero, so the upward potential was limited. Meanwhile, the test of 1.2523 in the afternoon happened when the MACD line had just started to move up from zero, […]

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Analysis and trading tips for EUR/USD on May 4

Analysis of transactions and tips for trading EUR/USD There was a test of 1.1039, but the MACD line was already far from zero, so the upward potential was limited. The downward movement was also not as large as expected. Although the labor market report from ADP was better than expected, Service PMI from ISM indicated […]

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Technical Analysis – EURUSD retests 13-month high ahead of ECB meeting

EURUSD is attempting once more to climb above the 13-month high of 1.1095, endorsing the long-term upside structure. This outlook is reinforced by the RSI, which is rising and remaining above its neutral threshold of 50. In addition, the stochastic oscillator displayed a bullish crossover between its %K and %D lines and is approaching the […]

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BTC update for May 04,.2023 – Triangle pattern in creation

Technical analysis: BTC/USD has been trading sideways at the price of $29.000 and I see potential for the breakout mode in the play. Due to the defined triangle pattern, I see potential for the breakout. In case of the breakout of resistance at $30.000, I see potential for the rally towards $31.000 and $34.000 In […]

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USD/JPY analysis for May 04, 2023 – Potential for the further downside movement

Technical analysis: USD/JPY has been trading downside as I expected and the first upside objective has been reached at 135.00. Anyway, I see potential for the lower prices towards 133.35. Due to the strong downside momentum and no signs for the reversal, I see potential for the further downside movement towards lower reference. Next major […]

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GBPUSD, H4 |React off 1st Resistance ?

The GBP/USD chart exhibits bearish momentum, as indicated by the potential for a bearish reaction at the first resistance level of 1.2583 and a subsequent drop towards the first support level of 1.2540. The first support level is considered an overlap support, which may provide a level of support for the price if it reaches […]

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EURUSD, H4 | Potential Bullish?

The EUR/USD chart exhibits a bullish outlook, as the price has the potential to break above the first resistance level at 1.1095 and advance towards the second resistance level at 1.1158. In case of a pullback, the first support level at 1.1095 could provide a level of support for the price. Additionally, the second support […]

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NZDUSD, H4 | Break above the descending trendline?

The NZD/USD chart indicates bullish momentum with price positioned above a significant ascending trend line, suggesting potential for further bullish momentum. Moreover, the recent breakout above a descending resistance line has triggered a possible bullish move. Looking ahead, a potential bullish continuation towards the first resistance level of 0.6282 could occur. In case of a […]

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GBP/USD. Overview for May 4th. The pound continues the “swing” with an upward bias

The GBP/USD currency pair traded with moderate gains on Wednesday before announcing the results of the FOMC meeting. After the announcement, we are still considering the movements and the meeting outcomes. In general, it is unimportant in which direction the pair will move after the meeting, as this will be an impulsive market reaction that […]

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Technical Analysis of Daily Price Movement of S&P 500 Index, Thursday May 04, 2023.

After successfully break above the level of 4177,57 but failed to touched its Weekly Old High level on 4195,24 as well as supported by the apperance of the deviation between price movement with MACD indicator, then in a few days ahead #SPX has the potential to depreciated down below up to the level 4051,17 where […]

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EUR/USD. Overview for May 4th. What to expect from the European regulator?

The EUR/USD currency pair traded higher most of Wednesday. We don’t think such a move was logical, but we have long become accustomed to illogical moves. The market traded consciously on Monday and Tuesday, reacting to macroeconomic statistics as expected. However, overall, the pair’s movement remains extremely flat, illogical, and chaotic. Looking at the illustration […]

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Forecast for EUR/USD on May 4, 2023

EUR/USD At the end of yesterday’s FOMC meeting, the Federal Reserve raised the rate by the expected 0.25%, but the rhetoric, contrary to our expectation, was not firm, as the Committee announced a pause in the rate hike cycle. Nevertheless, yesterday’s euro growth by 59 points might not have happened because for this reason (the […]

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