Video market update for May 12, 2023

Upside contiunuation in the play on Gold and GBP The material has been provided by InstaForex Company – www.instaforex.com Related Posts:Weekly Forex Outlook: 12/05/2023 – Focus on US retail sales… May 12, 2023 With no central bank decisions on the menu next week,…Forex forecast 05/12/2023 GBP/USD, USD/JPY, Oil and Bitcoin… May 12, 2023 Let’s take […]

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EUR/USD. May 12. The dollar is still having trouble growing

The EUR/USD pair continued the falling process and even closed a bit below the corrective level of 76.4% (1.0917), but couldn’t continue to fall after that. Thus, the pair is still being held back from a significant collapse, and the movement on the older charts is still horizontal. A battle between bears and bulls for […]

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GBP/USD. May 12. The Bank of England does not intend to stop

On the hourly chart, the GBP/USD pair continued its decline on Thursday and dropped to the rising trend line, which characterizes traders’ sentiment as “bullish” even after yesterday’s drop. Consolidation of the pair’s rate below this line will favor the continuation of the fall toward the Fibonacci level of 100.0% (1.2447). A rebound from the […]

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Forex forecast 05/12/2023 GBP/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga

Let’s take a look at the technical picture of GBP/USD, USD/JPY, Oil and Bitcoin. The material has been provided by InstaForex Company – www.instaforex.com Related Posts:EUR/USD and GBP/USD trading plan for beginners on May 12,… May 12, 2023 Details of the economic calendar on May 11 The Bank…Three Reasons to Sell Bitcoin May 12, 2023 […]

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EUR/USD and GBP/USD trading plan for beginners on May 12, 2023

Details of the economic calendar on May 11 The Bank of England, following the Federal Reserve and the European Central Bank, has indeed raised the rate by 25 basis points to 4.5%, although 2 board members voted for a pause. According to the regulator, the trajectory of demand will be “significantly stronger” than previously assumed. […]

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Three Reasons to Sell Bitcoin

There is only one step from the sublime to the ridiculous. After a 72% surge from January to April, Bitcoin became an underperformer in May. It is losing to stocks, bonds, and commodity market assets. At the same time, the decreasing correlation with U.S. stock indices indicates difficulties within the crypto system. And indeed, such […]

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Technical Analysis of Daily Price Movement of Ripple Cryptocurrency, Friday May 12 2023.

If we Pay attention on the daily chart of Ripple cryptocurrency then Ripple seems move inside Bearish bias. It’s clearly seen by: 1. Its price movement inside the downside channel. 2. The appearance of Bearish 123 pattern followed by the penetration from a few of Bearish Ross Hook. 3. Price movement which moved below its […]

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Indicator analysis: Daily review of GBP/USD on May 12, 2023

Trend analysis (Fig. 1). The market may move upward from the level of 1.2507 (closing of yesterday’s daily candle) with the target of 1.2582, the historical resistance level (blue dotted line). Upon reaching this level, a downward movement is possible with the target of 1.2550, the 38.2% pullback level (blue dotted line). Fig. 1 (daily […]

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Indicator analysis: Daily review of EUR/USD on May 12, 2023

Trend analysis (Fig. 1). The market may move upward from the level of 1.0914 (closing of yesterday’s daily candle) to 1.0977, the 38.2% pullback level (red dotted line). When testing this level, a downward movement is possible. Fig. 1 (daily chart). Comprehensive analysis: Indicator analysis – up; Fibonacci levels – up; Volumes – up; Candlestick […]

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BTC update for May 12,.2023 – Downside breakout of the defined trading range

Technical analysis: BTC/USD has been trading downside and I found breakout of the multi week trading range, which is sign that sellers are in control. Due to the breakout of the multi week trading range and no signs for the reversal, I see potential for the further downside movement towards lower reference. Downside objective is […]

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GBPUSD analsysis for May 12 , 2023 – Rejection of the key support at 1.2500

Technical analysis: GBP/USD has been trading downside after the yesterday economic data in US but I see that key support at the price of 1.2500 is on the test and that there is the chance for the upside rejection. Due to the strong long time-frame upside trend and test-reject of the key support zone, I […]

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Hot forecast for EURUSD on 12/05/2023

Yesterday, everything revolved exclusively around the meeting of the Board of the Bank of England, the results of which were the reason for the sharp weakening of the single European currency. More precisely, the pound was falling, and through the dollar index, it already pulled other currencies with it. And it’s not so much about […]

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Analysis and trading tips for GBP/USD on May 12

Analysis of transactions and tips for trading GBP/USD The test of 1.2595 coincided with the time that the MACD line had just started to move above zero, which was a good reason to buy. However, there was no price increase even after the Bank of England raised interest rates. Sometime later, there was another test, […]

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Analysis and trading tips for EUR/USD on May 12

Analysis of transactions and tips for trading EUR/USD The test of 1.0940 happened when the MACD line was already far from zero, so the upward potential was limited. Sometime later, there was another test, but this time the MACD line was in the overbought area, so bears manage to educe a price decrease of over […]

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Technical Analysis of ETH/USD for May 12, 2023

Crypto Industry News: Real estate remains the preferred long-term investment asset, according to the latest Gallup poll. However, they are falling significantly from last year’s record high of 45% to 34% in 2023. “Higher interest rates over the past year have cooled the housing market, dampening consumer enthusiasm for real estate as an investment,” the […]

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Technical Analysis of BTC/USD for May 12, 2023

Crypto Industry News: Mining company Hut 8 Mining (HUT) saw first-quarter revenue fall more than -64% to CAD 19 million ($14.16 million) year-over-year. Previously, the company was forced to shut down some machines due to a dispute with its energy supplier. Revenue fell -13% from the previous quarter, which was below analysts’ expectations. The company […]

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Technical Analysis of GBP/USD for May 12, 2023

Technical Market Outlook: The GBP/USD pair has made another new swing high at the level of 1.2678, so the key technical resistance located t 1.2666 was broken. After the new swing high was made, the Bearish Engulfing candlestick pattern was made at the top of the move, so the market pulled-back and keeps moving lower […]

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Technical Analysis of EUR/USD for May 12, 2023

Technical Market Outlook: The EUR/USD has fallen out from the Falling Wedge pattern on the H4 time frame chart of EUR/USD and hit the local lows at the level of 1.0901. The local bounce from the lows is shallow and bulls want to test the intraday technical resistance located at 1.0943. The key short-term technical […]

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Trading plan for EURUSD for May 12, 2023

Technical outlook: EURUSD continued its drop further and printed an intraday low around 1.0900 during the New York session on Thursday. The single currency pair is seen to be trading close to 1.0930 as intraday resistance looms close to the 1.0960-75 area. The bears are looking poised to be back in control soon and drag […]

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Overview of the GBP/USD pair on May 12. The pound finally collapsed thanks to Andrew Bailey

The GBP/USD currency pair finally began to fall on Thursday. It had been rising for over two months straight without correcting itself. While the growth may not have been the strongest in recent days and weeks, it was still stable. However, Chairman Andrew Bailey gave a speech after announcing the Bank of England meeting’s results […]

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USDCHF, H4 | Potential bounce from 1st support?

The current momentum of USD/CHF is strongly bullish. However, in the short term, there is a possibility of a further drop towards the 1st support before a potential rebound towards the 1st resistance. Positioned at 0.8906, the 1st support level is considered a pullback support, indicating it could serve as a point for price to […]

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Forecast for EUR/USD on May 12, 2023

EUR/USD The market is tired of playing cat and mouse with investors and did what it had to do according to the main scenario – it reached the support level of 1.0908 – the embedded line of the global descending price channel. Automatically, the price ended up below the MACD indicator line (daily), this helps […]

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Forecast for GBP/USD on May 12, 2023

GBP/USD After sharply falling on Thursday, we have confirmed the divergence with the Marlin oscillator, we saw a price reversal with the intention to move into a medium-term decline. The final sign is when it crosses the MACD line (1.2404). The Marlin oscillator has settled on a downward movement, the pound can quickly reach the […]

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Forecast for AUD/USD on May 12, 2023

AUD/USD The AUD/USD pair broke through a strong support in the area of 0.6730 (the price level and the MACD line on the daily chart) and fell sharply. The signal line of the Marlin oscillator has reached the zero line, but has not yet crossed it. If there is a reversal of this line, then […]

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