InvestMacro

Article By RoboForex.com

EURGBP, “Euro vs Great Britain Pound”

EURGBP is trading at 0.8673; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.8665 and then resume moving upwards to reach 0.8805. Another signal in favor of a further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.8605. In this case, the pair may continue falling towards 0.8525. To confirm further growth, the asset must break the pattern’s upside border and fix above 0.8725.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading at 74.27; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 75.05 and then resume moving downwards to reach 72.15. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 76.25. In this case, the pair may continue growing towards 77.35. To confirm further decline, the asset must break the rising channel’s downside border and fix below 73.25.

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 131.60; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 130.95 and then resume moving upwards to reach 133.15. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 130.75. In this case, the pair may continue falling towards 129.95. To confirm further growth, the asset must break the descending channel’s upside border and fix above 131.95.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2003
• Prev Close: 1.2062
• % chg. over the last day: +0.49%

The EUR/USD currency pair was bullish on Thursday. Positive news background in Europe played a key role in it. Buyers managed to protect the support level of 1.2002 and create a new level at 1.2027 point.

Trading recommendations

• Support levels: 1.2027, 1.2002, 1.1957, 1.1835
• Resistance levels: 1.2074, 1.2108, 1.2145, 1.2176, 1.2212, 1.2243

The price held above the moving average, while the MACD indicator moved into the positive zone. At the moment, a local up-trend has formed, so traders should look for buy positions up to the key resistance level of 1.2108.

Alternative scenario: if the price breaks out through the 1.2108 level and holds above, the general uptrend is likely to continue.

News feed for 2021.05.07:

• – ECB President Christine Lagarde Speaks at 13:00 (GMT+3);
• – US Unemployment Rate at 15:30 (GMT+3);
• – US Non-Farm Employment Change at 15:30 (GMT+3);
• – US Average Hourly Earnings at 15:30 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3891
• Prev Close: 1.3898
• % chg. over the last day: +0.05%

The price of GBP/USD remained in a flat. Volatility only increased on yesterday’s news. The sellers managed to hold the resistance level of 1.3835.

Trading recommendations

• Support levels: 1.3835, 1.3801, 1.3756, 1.3690
• Resistance levels: 1.3913, 1.3996, 1.4149

There is no optimal entry point for GBP/USD on the H1 timeframe right now. Traders need to wait for any of the participants to be active. The best strategy would be to either trade intraday local moves or stay out of position until the “Non-Farm” news is released.

Alternative scenario: if the price breaks out through the 1.3913 resistance level and holds above, the bullish scenario is likely to become active again.

News feed for 2021.05.07:

• – BOE Deputy Governor for Monetary Policy Ben Broadbent Speaks at 14:15 (GMT+3);
• – MPC Member Andy Haldane Speaks at 14:15 (GMT+3).

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 109.17
• Prev Close: 109.04
• % chg. over the last day: -0.11%

The USD/JPY currency pair declined slightly on Thursday, but volatility is still low. Most likely the situation will not change until the release of the US macrostatistics today.

Trading recommendations

• Support levels: 108.87, 108.44, 108.19,107.77, 107.47, 107.04
• Resistance levels: 109.49, 109.64, 109.95, 110.51

The price is still trading above the moving average, but the MACD indicator is completely inactive. Under such market conditions, the best strategy would be to trade intraday deals with short targets.

Alternative scenario: if the price drops below 108.44, the downtrend is likely to resume.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2265
• Prev Close: 1.2146
• % chg. over the last day: -0.97%

The USD/CAD currency pair fell by 0.97% on Thursday. The price held below the support level and went further down. The divergence on the MACD indicator did not work properly this time.

Trading recommendations

• Support levels: 1.2138
• Resistance levels: 1.2251, 1.2321, 1.2388, 1.2414, 1.2519, 1.2618

The trend remains bearish for USD/CAD. The price will not make a deep pullback with such a strong trend, so traders should be looking for sell positions from resistance levels on intraday timeframes.

Alternative scenario: if the price breaks through the 1.2321 resistance level and holds above, a local corrective uptrend is likely to form.

News feed for 2021.05.07:

• – Unemployment Rate at 15:30 (GMT+3);
• – Employment Change at 15:30 (GMT+3);
• – Part-Time Employment Change at 15:30 (GMT+3);
• – Ivey PMI at 17:00 (GMT+3).

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Lukman Otunuga Research Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Article By RoboForex.com

AUDCHF, “Australian Dollar vs Swiss Franc”

AUDCHF is trading at 0.7070; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7075 and then resume moving downwards to reach 0.6925. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7105. In this case, the pair may continue growing towards 0.7210. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 0.6995.

CADCHF, “Canadian Dollar vs Swiss Franc”

CADCHF is trading at 0.7448; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7415 and then resume moving upwards to reach 0.7585. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7310. In this case, the pair may continue falling towards 0.7225.

CHFJPY, “Swiss Franc vs Japanese Yen”

CHFJPY is trading at 119.68; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 119.05 and then resume moving upwards to reach 121.30. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 118.45. In this case, the pair may continue falling towards 117.55.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After reaching another downside target at 1.1990, EURUSD is forming a new consolidation range around 1.2000. Possibly, the pair may expand the range up to 1.2030. If later the price breaks this range to the upside, the market may start a new correction towards 1.2080; if to the downside – resume trading downwards to extend this wave and reach the short-term target at 1.1934.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.3880. Possibly, today the pair may expand the range up to 1.3933 and resume trading downwards to reach 1.3750. Later, the market may break this level and continue falling with the target at 1.3696.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 74.90. Today, the pair may fall to break 74.40. After that, the instrument may continue trading downwards with the short-term target at 73.30.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 109.26 without any particular direction. Possibly, the pair may form one more ascending structure towards 109.56 and then start a new decline to reach 109.30. Later, the market may resume growing with the target at 109.80.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending structure at 0.9160, USDCHF is correcting towards 0.9111 and may later form one more ascending structure to break 0.9168. After that, the instrument may continue trading upwards with the target at 0.9210.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7717 without any particular trend. Possibly, today the pair may fall to reach 0.7623. Later, the market may start a new correction to return to 0.7717 and then resume falling with the target at 0.7600.

BRENT

After completing the correction at 68.22, Brent is expected to grow towards 70.15 and may later correct to reach 68.00. Later, the market may resume trading upwards with the target at 72.00.

XAUUSD, “Gold vs US Dollar”

After finishing the ascending structure at 1788.00m Gold is consolidating around this level. If later the price breaks this range to the upside, the market may start a new growth with the target at 1805.50; if to the downside – continue the correction towards 1767.25 and then resume trading upwards to reach the above-mentioned target.

S&P 500

The S&P index is still consolidating around 4165.5. Today, the asset may resume growing with the target at 4309.0 and then start another correction towards 4080.0.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2010
• Prev Close: 1.2005
• % chg. over the last day: -0.04%

The EUR/USD currency pair showed weak activity on Wednesday. The price is under the moving average and continues to slowly slide down. Buyers manage to hold the 1.2002 support level.

Trading recommendations

• Support levels: 1.2002, 1.1957, 1.1835
• Resistance levels: 1.2074, 1.2108, 1.2145, 1.2176, 1.2212, 1.2243

The MACD indicator keeps signaling a divergence. Considering the positive news from Europe about the acceleration of the vaccination, the market conditions are in favor of buyers, so traders should expect a rebound.

Alternative scenario: if the price breaks out through the 1.2108 level and holds above, the general uptrend is likely to continue.

News feed for 2021.05.06:

• – ECB President Christine Lagarde Speaks at 14:25 (GMT+3);
• – US Unemployment Claims at 15:30 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3885
• Prev Close: 1.3908
• % chg. over the last day: +0.16%

The GBP/USD currency pair is trading in a narrow range. A bunch of important news from the UK is expected to shake up the price today. Considering that the buyers are pushing the price to the 1.3835 resistance level and no changes are planned in monetary policy, the price is likely to resume growth.

Trading recommendations

• Support levels: 1.3835, 1.3801, 1.3756, 1.3690
• Resistance levels: 1.3913, 1.3996, 1.4149

There is no optimal entry point for GBP/USD on the H1 timeframe right now. Traders need to wait for any of the participants to be active. The best strategy would be to either trade intraday local moves or stay out of position until the news is released.

Alternative scenario: if the price breaks out through the 1.3913 resistance level and holds above, the bullish scenario is likely to become active again.

News feed for 2021.05.06:

• – UK Final Services PMI at 11:00 (GMT+3);
• – Bank of England Interest Rate Decision at 14:00 (GMT+3);
• – Asset Purchase Facility at 14:00 (GMT+3);
• – MPC Asset Purchase Facility Votes at 14:00 (GMT+3);
• – BOE Monetary Policy Report at 14:00 (GMT+3).

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 109.30
• Prev Close: 109.18
• % chg. over the last day: -0.11%

The USD/JPY currency pair continues to stay in a flat, without any changes. Japan and China are going back to work today after a long weekend, so traders should expect an increase in volatility.

Trading recommendations

• Support levels: 108.87, 108.44, 108.19,107.77, 107.47, 107.04
• Resistance levels: 109.49, 109.64, 109.95, 110.51

The price is still trading above the moving average, but the MACD indicator is completely inactive. Under such market conditions, the best strategy would be to trade intraday deals with short targets.

Alternative scenario: if the price drops below 108.44, the general downtrend will continue with a high probability.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2307
• Prev Close: 1.2265
• % chg. over the last day: -0.34%

The USD/CAD currency pair continues to trade in the range. Buyers are actively defending the 1.2270 support level. The price fails to break down and holds below. The MACD indicator is showing a divergence, so traders should expect a rebound.

Trading recommendations

• Support levels: 1.2270, 1.2165
• Resistance levels: 1.2321, 1.2388, 1.2414, 1.2519, 1.2618

The trend remains bearish on USD/CAD, but the movement has switched to a flat structure. Such scenario is likely to last till Friday, where the interest rate news is expected. The best strategy in a wide flat would be to trade from the borders of the corridor. But taking into account the bearish context, it makes more sense to look for sell positions from resistance levels, despite a possible rebound upwards.

Alternative scenario: if the price breaks through the 1.2414 resistance level and holds above, a local corrective uptrend is likely to form.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Han Tan Market Analyst, ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after completing the correction close to the resistance level and forming several reversal patterns there, including Long-Legged Doji, USDCAD may reverse and start a new decline towards 1.2215. After testing this level, the price may resume its descending tendency. However, an alternative scenario implies that the asset may grow to reach the resistance level at 1.2380 before resuming its decline.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, during the pullback, AUDUSD has formed several reversal patterns not far from the support level, such as Hammer. At the moment, the asset may reverse and resume trading upwards. In this case, the upside target may be the resistance area at 0.7825. At the same time, an opposite scenario implies that the price may fall towards the support level at 0.7695, test it, and then resume its ascending tendency.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the asset is still moving sideways within the downtrend. At the moment, after forming several reversal patterns, such as Inverted Hammer, not far from the support area, USDCHF may reverse and form a new pullback. In this case, the correctional target may be the resistance level at 0.9175. Still, there might be an alternative scenario, according to which the asset may continue falling to reach 0.9025 without reversing and correcting.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After reaching its predicted downside target at 1.2000, EURUSD is forming a new consolidation range above this level. Possibly, the pair may expand the range down to 1.1990 and then start one more correction with the target at 1.2080.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating around 1.3880. Possibly, today the pair may expand the range up to 1.3933 and resume trading downwards to reach 1.3750. Later, the market may break this level and continue falling with the target at 1.3696.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 75.00. Today, the pair may fall to break 74.40. After that, the instrument may continue trading downwards with the short-term target at 73.30.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 109.29. Possibly, the pair may form one more ascending structure towards 109.56 and then start a new decline to reach 109.30. Later, the market may resume growing with the target at 109.80.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still growing towards 0.9168 and may later correct to reach 0.9115. After that, the instrument may then form one more ascending structure with the target at 0.9216.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7717. Possibly, today the pair may fall to reach 0.7623. Later, the market may start a new correction to return to 0.7717 and then resume falling with the target at 0.7600.

BRENT

After completing the ascending wave at 69.50, Brent is correcting to reach 68.00 and may later resume growing to reach 70.14. Later, the market may start another correction to return to 68.00 and then resume trading upwards with the target at 72.00.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1781.00. Possibly, the metal may fall towards 1767.25. Later, the market may form one more ascending structure to break 1805.70 and then continue trading upwards with the target at 1900.00.

S&P 500

After completing the correction at 4130.0, the S&P index has returned to 4165.5, thus continuing the consolidation range around the latter level. If later the price breaks this range to the upside, the market may start a new growth with the target at 4309.0; if to the downside – correct towards 4080.0 and then resume trading upwards to reach the above-mentioned target.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2063
• Prev Close: 1.2013
• % chg. over the last day: -0.41%

The EUR/USD currency pair fell by 0.41% on Tuesday. The sellers were able to defend the resistance level of 1.2074, where the price showed a sharp downward reaction.

Trading recommendations

• Support levels: 1.2002, 1.1957, 1.1835
• Resistance levels: 1.2074, 1.2108, 1.2145, 1.2176, 1.2212, 1.2243

The MACD indicator started to signal a divergence, and the price failed to break through the support level of 1.2002. Such market conditions are not good for the sellers, so there is a high probability of a rebound in the next trading sessions.

Alternative scenario: if the price breaks out through the 1.2108 level and holds above, the general uptrend is likely to continue.

News feed for 2021.05.05:

• – US ADP Non-Farm Employment Change (m/m) at 15:15 (GMT+3);
• – US ISM Services PMI (m/m) at 17:00 (GMT+3).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3906
• Prev Close: 1.3885
• % chg. over the last day: -0.15%

On Tuesday, the GBP/USD currency pair traded in a range near the moving average. Buyers are actively defending the 1.3835 support level, while sellers are holding the defense at the 1.3913 resistance level.

Trading recommendations

• Support levels: 1.3835, 1.3801, 1.3756, 1.3690
• Resistance levels: 1.3913, 1.3996, 1.4149

There is no optimal entry point for GBP/USD on the H1 timeframe right now. Traders need to wait for any of the participants to be active. The best strategy would be to either trade intraday local moves or stay out of position.

Alternative scenario: if the price breaks out through the 1.3913 resistance level and holds above, the bullish scenario is likely to become active again.

There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 109.06
• Prev Close: 109.28
• % chg. over the last day: +0.20%

On Tuesday, the USD/JPY currency pair traded relatively quietly. This is primarily due to the bank holidays in Japan, which will last until Thursday. Volatility is low.

Trading recommendations

• Support levels: 108.87, 108.44, 108.19,107.77, 107.47, 107.04
• Resistance levels: 109.49, 109.64, 109.95, 110.51

The price is still trading above the moving average, but the MACD indicator is completely inactive. This indicates a possible start of a flat. Under such market conditions, the best strategy would be to trade intraday deals with short targets.

Alternative scenario: if the price drops below 108.44, the general downtrend will continue with a high probability.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2274
• Prev Close: 1.2304
• % chg. over the last day: +0.24%

The USD/CAD currency pair continues to trade in the range. On Tuesday, the price showed the expected small rebound from the support level of 1.2270. The price reached the 1.2321 resistance level, but buyers failed to consolidate higher, and the price returned to the balance.

Trading recommendations

• Support levels: 1.2270, 1.2165
• Resistance levels: 1.2321, 1.2388, 1.2414, 1.2519, 1.2618

As for USD/CAD, the trend remains bearish, but the movement has begun to switch into a flat structure. The best strategy in a wide range would be to trade from the borders of this corridor. But taking into account the bearish context, it makes more sense to look for sell positions.

Alternative scenario: if the price breaks through the 1.2414 resistance level and holds above, a local corrective uptrend is likely to form.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.