Forex forecast 05/18/2023 AUD/USD, Oil, Gold and SP500 from Sebastian Seliga

Let’s take a look at the technical picture of AUD/USD, Oil, Gold and SP500 The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Rising dollar pushes gold prices down May 18, 2023 Gold has been declining since May 4.But looking at the…EUR/USD and GBP/USD trading plan for beginners on May 18,… May 18, […]

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Rising dollar pushes gold prices down

Gold has been declining since May 4. But looking at the percentage decrease in the metal and the percentage increase in dollar, it is clear that demand for dollar greatly affects gold’s dynamics. The main reason why dollar is going up and gold is going down is the recent comments of Fed representatives. It reinforced […]

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USD down on hopes for debt ceiling resolution. XAU/USD, USD/JPY set to decline

The American financial market received a noticeable surge of optimism on Wednesday amid ongoing hopes that the resumption of negotiations between Joe Biden and Congressional leaders from the Republican and Democratic parties would lead to a resolution of the government’s upcoming default issue. Against this backdrop, local stock indices gained significantly, and shares of the […]

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EUR/USD and GBP/USD trading plan for beginners on May 18, 2023

Details of the economic calendar on May 17 Inflation in the eurozone in April 2023 was 7.0%, 0.1% higher than in March. Last year, this figure reached 7.4%. Across the European Union, inflation in April was 8.1%, 0.2% lower than in March, matching last year’s level. The European economy continues to demonstrate resilience in difficult […]

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Indicator analysis: EUR/USD daily review on May 18, 2023

Trend analysis (Fig. 1) EUR/USD may continue moving down this Thursday, starting from the closing of Wednesday’s daily candle at 1.0840 to the 50.0% retracement level at 1.0805 (yellow dotted line). Upon reaching this price, the pair will bounce up to the 23.6% retracement level at 1.0877 (red dotted line). Fig. 1 (daily chart) Comprehensive […]

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Hot forecast for EURUSD on 18/05/2023

Final data on inflation in the euro zone confirmed the results of the preliminary estimation which showed the acceleration of the consumer prices growth from 6.9% to 7.0%. Taking into consideration the fact that the market had already taken this fact into account, the publication of the final data could not affect the current situation […]

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Technical Analysis of ETH/USD for May 18, 2023

Crypto Industry News: The NFT market is developing very dynamically in the crypto ecosphere. It is quite easy to use which makes it suitable for many applications. The popularity of NFT leaves room for abuse. Therefore, it is recommended to exercise extreme caution in conjunction with continuous education. China’s national law enforcement agency published a […]

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Technical Analysis of BTC/USD for May 18, 2023

Crypto Industry News: In the political salons of Great Britain, an initiative is born that can radically change the perspective on cryptocurrency trading. In a surprising move, regardless of the government’s stance, a group of MPs proposed that cryptocurrencies like Bitcoin be classified as gambling. Parliamentarians point out that the extreme volatility of cryptocurrencies exposes […]

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Technical Analysis of GBP/USD for May 18, 2023

Technical Market Outlook: The GBP/USD pair keeps moving lower after the breakout below all the moving averages. The market is under the bearish pressure and is slowly approaching the key technical support seen at 1.2352. The intraday technical resistance located at 1.2538 is still intact, so after a reversal the next target for bears is […]

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Technical Analysis of EUR/USD for May 18, 2023

Technical Market Outlook: The EUR/USD keeps moving lower after the price had broke out from the Falling Wedge pattern on the H4 time frame chart and hit the lows at the level of 1.0811. Another local bounce from the lows was shallow and bulls were rejected from the intraday technical resistance located at 1.0853, which […]

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Trading plan for EUR/USD and GBP/USD on May 18

Consumer price growth in the Euro area accelerated from 6.9% to 7.0%. However, markets already expected this dynamic, so there was not much change in EUR/USD. In fact, its decline even continued, albeit modestly. Now, there are signs of recovery and attempts to return to the price level it was trading at earlier. In terms […]

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GBP/USD. Overview for May 18. Andrew Bailey continues to radiate optimism

The GBP/USD currency pair spent most of Wednesday quietly continuing its downward movement. The nature of the British currency’s fall is purely technical, as the pair remains heavily overbought and has shown unjustified growth for a long time. Now is the time for a major correction; for this, a fundamental and macroeconomic background isn’t even […]

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Analysis and trading tips for EUR/USD on May 18

Analysis of transactions and tips for trading EUR/USD The test of 1.0848 happened when the MACD line was quite far from zero, so the downward potential was limited. There was another test in the afternoon, but it was at 1.0826 and the MACD line was just beginning to move down from zero. This was a […]

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USDCAD, H4 | Bull Continuation Expected?

The material has been provided by InstaForex Company – www.instaforex.com Related Posts:USDCHF, H4 | Bullish Momentum Expected May 17, 2023 The material has been provided by InstaForex Company – www.instaforex.comEURUSD, H4 | Bearish Momentum Expected May 17, 2023 The material has been provided by InstaForex Company – www.instaforex.comWTI, H4 | Bearish Continuation Expected May 16, […]

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AUDUSD H4 | React off 1sy support?

The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Ford stock price challenges major support level. May 17, 2023 Green lines- triangle patternFollowing our analysis on Ford stock price…AUD/USD Update forMay 17, 2023 – Rejection of the support… May 17, 2023 Technical analysis: AUD/USD has been trading downside yesterday but I…Technical Analysis – […]

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Forecast for EUR/USD on May 18, 2023

EUR/USD Yesterday, the euro closed the day lower by 22 points, falling just below the target level of 1.0804. The Marlin oscillator’s signal line has momentarily stopped falling, so this support may not even work out today. There’s a possibility of a sideways price movement, as we mentioned earlier. On the four-hour chart, a price […]

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Forecast for GBP/USD on May 18, 2023

GBP/USD Yesterday, the British pound failed to consolidate below the target level of 1.2443, it even closed the day at the opening level. At the moment, the price is developing above the balance indicator line (red), which the price was unable to overcome yesterday. The price also failed to reach the MACD indicator line. The […]

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Forecast for AUD/USD on May 18, 2023

AUD/USD The Australian dollar traded within the target levels of 0.6628 and 0.6670 yesterday. The reversal of the Marlin oscillator’s signal line from the zero line was confirmed (arrow) on the daily chart. Now, the probability of the price overcoming the 0.6628 support has significantly increased, and the price will soon reach the target level […]

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Trading plan for GBP/USD on May 18. Simple tips for beginners

Analysis of trades on May 17 GBP/USD 30M chart The GBP/USD pair attempted to continue its downward movement on Wednesday, but by the end of the day, it corrected upwards more strongly than it had dropped earlier. The descending trend line has been slightly readjusted, as we mentioned, and today the pair reached it but […]

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Trading plan for EUR/USD on May 18. Simple tips for beginners

Analysis of trades on May 17 EUR/USD 30M chart The EUR/USD currency pair continued its downtrend throughout Wednesday, with volatility remaining low. Throughout the day, traders could only pay attention to the EU inflation report. We mentioned yesterday that there was a slight possibility of deviation in the actual value of the second estimate from […]

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Technical analysis on GBPUSD for May 17th, 2023.

Black lines- bullish channel (broken) Green line- bearish RSI divergence GBPUSD is trading around 1.2487. Short-term trend is bearish as price is making lower lows and lower highs. Price broke out and below the bullish channel and provided a new reversal signal. Combined with the fact that the RSI was making lower highs, the chances […]

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Ford stock price challenges major support level.

Green lines- triangle pattern Following our analysis on Ford stock price from May 8th, we see that the stock price is challenging the lower triangle support boundary of the triangle pattern it is in. Today price is bouncing off the triangle boundary confirming the importance of the support at $11.20. Short-term trend is bearish as […]

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Technical analysis on Ethereum for May 17th, 2023.

Blue lines- bullish channel Black line- bearish RSI divergence Ethereum is trading around $1,818, Technically short-term trend remains bearish as price is making lower lows and lower highs since the $2,140 highs. Medium-term trend remains bullish as price continues trading inside the blue upward sloping channel. So far price has been respecting the lower channel […]

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Technical analysis on Gold for May 17th, 2023.

Red line -resistance Green line- support (broken) Gold price is trading around $1,980. In our previous analysis we noted the triangle pattern Gold was in and that a break below the green support trend line would lead to a decline at least towards $1,970-77 area. Today’s low was at $1,974. Short-term trend is bearish as […]

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Technical analysis on EURUSD for May 17th, 2023.

Blue line- lower channel boundary Red lines- bearish channel EURUSD is trading around 1.0840. Short-term trend remains bearish as price continues making lower lows and lower highs inside the red downward sloping channel. Price broke out of the medium-term bullish channel it was in. Price has reached as low as 1.0811. As we said in […]

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May 17, 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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