USDCHF falls to the April low/swing area and bounces. Resistance now eyed at ...
Friday, May 3,2024,10:40
The USDCHF fell below the 200 bar moving average on the 4-hour chart near 0.9070, and tumbled down to the lope from April and a low swing area near 0.8997 and 0.9005. Buyers came in against that level and have since pushed the price back up toward the aforementioned 200 bar moving average. If sellers are to keep control, staying below the 0.9070 to 0.9077 area. With the price trading back toward that level, look for sellers to lean against the level with stops on a price move back above the area. This article was written by Greg Michalowski at www.forexlive.com. .. read more..
U.S. Service Sector Activity Contracts For First Time Since December 2022
Friday, May 3,2024,10:31
After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a report released by the Institute for Supply Management on Friday. The ISM said its services PMI dipped to 49.4 in April from 51.4 in March, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 52.0. .. read more..
Eurozone Unemployment Rate Steady At 6.5% For Fifth Month
Friday, May 3,2024,10:13
Euro area jobless rate remained unchanged at a record low for the fifth month in a row in March and the unemployment decreased, while a tight labor market could urge the European Central Bank to remain cautious even as policymakers gear up for an interest rate cut in June. The seasonally adjusted unemployment rate was 6.5 percent in March, which is the same level as in the previous four months. .. read more..
EUR/USD Mid-Day Outlook
Friday, May 3,2024,09:26
Daily Pivots: (S1) 1.0689; (P) 1.0710; (R1) 1.0745; More… EUR/USD’s rebound from 1.0601 resumed by breaking through 1.0752 and intraday bias back on the upside. Strong break of 55 D EMA suggests that fall from 1.0980 has completed with three waves down to 1.0601. Further rally is expected and firm break of 100% projection of […] The post EUR/USD Mid-Day Outlook appeared first on Action Forex . .. read more..
U.S. Job Growth Falls Short Of Estimates In April, Unemployment Rate Ticks Hi...
Friday, May 3,2024,09:24
After reporting stronger than expected job growth over the past several months, the Labor Department released a report on Friday showing employment in the U.S. increased by much less than expected in the month of April. The Labor Department said non-farm payroll employment climbed by 175,000 jobs in April after surging by an upwardly revised 315,000 jobs in March. .. read more..
USD experiences day X
Friday, May 3,2024,09:20
The expected non-farm payrolls data may show that the US economy created 243k new jobs last month. This number is significantly lower than the 303k jobs added in March, which could indicate a slowdown in job gains. The unemployment rate is projected to remain steady at 3.8%. Particular attention will be paid to changes in average hourly earnings, an important indicator of wage inflation, which is expected to show an annualized growth rate of 4.0% through April, down from 4.1% in March. This key employment data, along with wage information, will be closely scrutinized to better understand the possible timing of the Fed's interest rate cut. Jerome Powell's recent remarks have added to the u... .. read more..
GBP/USD Mid-Day Outlook
Friday, May 3,2024,09:19
Daily Pivots: (S1) 1.2490; (P) 1.2517; (R1) 1.2563; More… GBP/USD’s rebound from 1.2298 resumed by breaking through 1.2568 resistance and intraday bias is back on the upside. Strong break of 55 D EMA suggest that fall from 1.2892 has completed with three waves down to 1.2298. Further rise should be seen and break of 61.8% […] The post GBP/USD Mid-Day Outlook appeared first on Action Forex . .. read more..
USD/JPY Mid-Day Outlook
Friday, May 3,2024,09:13
Daily Pivots: (S1) 152.37; (P) 154.33; (R1) 155.60; More… USD/JPY’s fall from 160.20 short term top continues today and intraday bias remains on the downside for 61.8% retracement of 146.47 to 160.20 at 151.71. Strong support should be seen from 150.87 resistance turned support to bring rebound. On the upside, above 153.81 minor resistance will […] The post USD/JPY Mid-Day Outlook appeared first on Action Forex . .. read more..
Kickstart the FX trading day (post NFP) with a technical look at EURUSD, USDJ...
Friday, May 3,2024,09:13
The sellers of the USD ahead of the US jobs report were rewarded with a big move to the downside in the major currency pairs. The question now is what next? In this report outline the moves versus the major currency pairs versus the US dollar - the EURUSD, USDJPY and GBPUSD. Where did the market go, what are the close risks and targets for each. EURUSD: The EURUSD moved above and below the 50% midpoint of the move down from the 2024 high to the 2024 low. That little comes in a 1.07906 and will be the barometer for more bullish and more bearish today as the market settles. USDJPY. The USDJPY continued its corrective move lower after making above 160.00 on Monday and prompting intervention ... .. read more..
USD/CHF Mid-Day Outlook
Friday, May 3,2024,09:00
Daily Pivots: (S1) 0.9079; (P) 0.9126; (R1) 0.9155; More…. USD/CHF’s sharp fall and strong break of 0.9087 support confirms short term topping at 0.9223, after first rejection from 0.9243 key resistance. Intraday bias is back on the downside, and deeper fall would be seen to 38.2% retracement of 0.8332 to 0.9223 at 0.8883. On the […] The post USD/CHF Mid-Day Outlook appeared first on Action Forex . .. read more..
Job Market Cools In April: Payrolls Miss Forecasts, Wages Rise Less Than Expe...
Friday, May 3,2024,08:58
Editor’s note: This story has been updated with additional details. The April performance of the U.S. labor market missed expectations, providing some evidence of cooling economic momentum and potentially leaving the door open for interest rate reductions later this year. U.S. employers added 175,000 nonfarm payrolls in April, marking a reduction from the upwardly revised 315,000 reading in March and missing the expected 238,000, the Bureau of Labor Statistics said Friday. April Jobs Report: Key Highlights Nonfarm payrolls increased by 175,000 on the month, marking a slowdown from March’s 315,000 and falling short of economists’ expectations for a 238,000 increase. The u... .. read more..
10 Questions To Gauge If Your Trading Account Is Properly Funded
Friday, May 3,2024,08:06
Being properly funded will allow you to sweat out drawdowns and give you a higher chance of surviving long enough so that you may experience big wins. .. read more..
The CHF is the strongest and the USD is the weakest as the NA session begins
Friday, May 3,2024,08:03
As the North American session begins, the CHF is the biggest gainer and the USD is the weakest of the majors. The USD is lower ahead of the key US jobs report which will garner the markets full attention after a week that saw the Federal Reserve keep rates unchanged at 5.5%, but with the Fed lowering the amount of bond sales and the Fed Chair not being as hawkish (kept easing as the next policy move). Although Fed officials are off their leashes after the "quiet period", there are no Fed officials scheduled, but you never know. Here is how Adam summarized the Fed Chair this week: "I might as well start with what Fedwatcher Nick Timiraos wrote: There's a high bar right now for the Fed to c... .. read more..
XAUUSD: Elliott wave analysis and forecast for 03.05.24 – 10.05.24
Friday, May 3,2024,07:50
Main scenario: consider long positions from corrections above the level of 2277.15 with a target of 2500.00 – 2560.00. Alternative scenario: breakout and consolidation below the level of 2277.15 will allow the pair to continue declining to the levels of 2154.83 – 2019.86. Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart. The fifth wave (5) is unfolding, with first wave 3 of (5) forming as its part. Apparently, the third wave of smaller degree iii of 3 is forming on the H4 time frame, with wave (iii) of... Read full author’s opinion and review in blog of #LiteFinance .. read more..
Markets Wait For Job Market Update
Friday, May 3,2024,07:24
Markets resumed focus on the job market update from the U.S. due on Friday morning even as positive corporate earnings bolstered market sentiment. .. read more..
WTI Crude Oil: Elliott wave analysis and forecast for 03.05.24 – 10.05.24
Friday, May 3,2024,07:20
Main scenario: consider short positions from corrections below the level of 87.45 with a target of 67.60 – 57.00. Alternative scenario: breakout and consolidation above the level of 87.45 will allow the asset to continue rising to the levels of 94.00 – 100.00. Analysis: supposedly, a downward correction continues developing as second wave of larger degree (2) on the daily chart, with wave С of (2) unfolding as its part. Apparently, a local correction is completed as second wave of smaller degree ii of C on the H4 time frame, and the third wave iii of С started unfolding. Wave... Read full author’s opinion and review in blog of #LiteFinance .. read more..
GBP/USD: trading plan for the US session on May 3rd (analysis of morning deal...
Friday, May 3,2024,07:16
In my morning forecast, I focused on the level of 1.2565 and planned to make decisions regarding market entry based on it. Let's take a look at the 5-minute chart and analyze what happened there. Growth occurred, but we still didn't reach the test of 1.2565. Due to this, I didn't see any entry points into the market in the first half of the day. The technical picture remained unchanged for the second half of the day. For opening long positions on GBP/USD, the following is required: Quite decent data on the growth of activity in the UK services sector allowed the pound to recover in the first half of the day, but it is obvious that everyone is focused on US data, so market participants are... .. read more..
EUR and GBP may drop
Friday, May 3,2024,06:51
Today, there may be a turning point in the market, which everyone has been expecting since the meeting of the Federal Reserve. It is all about the fact that today the monthly US jobs report will be released, and many economists expect that job growth will continue at a rather strong pace in April . All this will lead to a high probability of increased price pressures in the near future, pushing back the Federal Reserve's plans to cut interest rates to a later date. In this light, the US dollar may gain in value. Figures to be released on Friday by the Bureau of Labor Statistics are likely to show that employers created 240,000 jobs last month. Average hourly earnings are also expected to ... .. read more..
USDJPY: Elliott wave analysis and forecast for 03.05.24 – 10.05.24
Friday, May 3,2024,06:50
Main scenario: consider long positions upon correction above the level of 150.75 with a target of 161.50 – 167.00. Alternative scenario: breakout and consolidation below the level of 150.75 will allow the pair to continue declining to the levels of 146.44 – 140.13 Analysis: an ascending wave of larger degree C continues forming on the daily chart, with fifth wave (5) of C unfolding as its part. The third wave 3 of (5) is unfolding on the H4 time frame, with first wave of smaller degree i of 3 and corrective second wave ii of 3 completed as its parts.... Read full author’s opinion and review in blog of #LiteFinance .. read more..
EUR/USD: trading plan for the US session on May 3rd (analysis of morning deal...
Friday, May 3,2024,06:40
In my morning forecast, I drew attention to the level of 1.0751 and planned to make decisions regarding market entry based on it. Let's take a look at the 5-minute chart and analyze what happened there. Growth occurred, but due to low volatility, we have yet to reach a test of this range. Consequently, suitable entry points into the market still needed to be achieved. The technical picture still needs to be revised for the second half of the day. For opening long positions on EUR/USD, the following is required: The absence of important statistics for the eurozone became a key point due to the low trading volume and weak volatility of the pair. But ahead of us are important data on the US ... .. read more..
Rupee rises 3 paise to end at 83.43 against US dollar
Friday, May 3,2024,06:30
The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.10% to 105.07 .. read more..
USD/JPY: Simple trading tips for novice traders for May 3rd (US session)
Friday, May 3,2024,06:28
Trade analysis and advice on trading the Japanese yen The tests of the levels I indicated in the first half of the day did not happen due to low volatility, which followed yesterday's significant sell-off of the US dollar ahead of important data. In the second half of the day, everything will depend on the US reports. Special attention will be paid to the increase in the number of new jobs. If the data turns out to be worse than the March figures, the dollar will most likely continue to decline, so it is better to consider selling the pair in such a case. If the April figures remain at a high level, the dollar will recover some of yesterday's losses against the yen. As for the intraday st... .. read more..
S&P 500 E-mini futures technical analysis
Friday, May 3,2024,06:26
The S&P 500 has been consolidating around the 5000-5100 range for more than two weeks now with the market awaiting the key US data as it's getting more and more wary of the inflation risk that could lead to more tightening. The more dovish than expected Fed's decision and Powell's press conference led to a short term spike that got faded soon after as the focus shifted towards the US data. Now, the big rally in Q1 was supported by rate cuts expectations and a reacceleration in economic activity that led to positive risk sentiment all around. These expectations started to collide with inflation risks after the third consecutive hot US CPI report and a hawkish repricing in interest rate... .. read more..
GBPUSD: Elliott wave analysis and forecast for 03.05.24 – 10.05.24
Friday, May 3,2024,06:20
Main scenario: consider long positions from corrections above the level of 1.2453 with a target of 1.2821 – 1.3000. Alternative scenario: breakout and consolidation below the level of 1.2453 will allow the pair to continue declining to the levels of 1.2294 – 1.2033. Analysis: the first wave of larger degree (1) is presumably formed, a correction developed as second wave (2), and the ascending third wave (3) started unfolding on the daily chart. On the H4 chart, wave 1 of (3) is formed, and a descending correction is presumably completed as second wave 2 of (3). Apparently, the third wave... Read full author’s opinion and review in blog of #LiteFinance .. read more..
Gold breaks the system down. Forecast as of 03.05.2024
Friday, May 3,2024,06:17
Gold will no longer be the same. It will not blindly trust the Fed and react to the evolution of the dollar and US bond yields. A regime change has become a game changer. Let’s discuss it and make a trading plan. Monthly fundamental forecast for gold Back to the Future. A movie in which the characters travel back a few decades to change the present. Let's try to do the same to understand what will happen to gold. Its drastic rally in 2024 may result either from algorithmic trading or a regime shift similar to that of the 1970s... Read full author’s opinion and review in blog of #LiteFinance .. read more..
GBP/USD: Simple trading tips for novice traders for May 3rd (US session)
Friday, May 3,2024,06:14
Trade analysis and advice on trading the British pound The test of the price at 1.2560 in the first half of the day coincided with the moment when the MACD indicator surged significantly above the zero mark, limiting the further upward potential of the pair – especially ahead of the release of important US statistics. For this reason, I did not buy it. The PMI activity data for the UK services sector suited pound buyers, but there was no significant upward movement, leaving everything for the American session. In the second half of the day, figures on the unemployment rate, nonfarm payrolls change, average hourly earnings change, and ISM services purchasing managers' index are expected. S... .. read more..
Video market update for May 03, 2024
Friday, May 3,2024,06:12
Potential for the rally on Dollar Index... The material has been provided by InstaForex Company - www.instaforex.com .. read more..
EUR/USD: Simple trading tips for novice traders on May 3rd (US session)
Friday, May 3,2024,06:05
Trade analysis and advice on trading the European currency The test of the price at 1.0744 in the first half of the day coincided with the moment when the MACD indicator had surged significantly above the zero mark, limiting the further upward potential of the pair – especially ahead of the release of important US statistics. For this reason, I did not buy it. Data on the Eurozone labor market was predictably ignored, so now all traders' attention will surely be focused on the US labor market reports. In the second half of the day, figures on the unemployment rate, nonfarm payrolls change, average hourly earnings change, and ISM services purchasing managers' index are expected. Strong rep... .. read more..
EURUSD: Elliott wave analysis and forecast for 03.05.24 – 10.05.24
Friday, May 3,2024,05:50
Main scenario: consider long positions from corrections above the level of 1.0600 with a target of 1.1141 – 1.1350. Alternative scenario: breakout and consolidation below the level of 1.0600 will allow the pair to continue declining to the levels of 1.0437 – 1.0218. Analysis: a bearish wave of larger degree A is presumably completed on the daily chart. A bullish wave B started unfolding, with first wave 1 of (A) of B and corrective second wave 2 of (A) of B formed within. Apparently, the third wave 3 of (A) of B is developing on the H4 time frame, with... Read full author’s opinion and review in blog of #LiteFinance .. read more..
EUR/USD. May 3rd. Bulls don't give up without a fight
Friday, May 3,2024,05:31
The EUR/USD pair executed a new reversal in favor of the European currency on Thursday and began a new upward process towards the 76.4% Fibonacci retracement level at 1.0764. Already at current levels, the pair may execute a new reversal in favor of the American dollar and initiate a new decline towards the 127.2% Fibonacci level at 1.0619, as it has already reversed five times around the 1.0740 level. The bears have twice breached the lower line of the ascending trend channel but did not receive the expected support from the Fed and now fear weak US labor market statistics. The wave situation remains unchanged. The last completed downward wave broke the low of the previous wave (from Apr... .. read more..
USDCHF: Elliott wave analysis and forecast for 03.05.24 – 10.05.24
Friday, May 3,2024,05:20
Main scenario: consider short positions from corrections below the level of 0.9224 with a target of 0.8325 – 0.8050. Alternative scenario: breakout and consolidation above the level of 0.9224 will allow the pair to continue rising to the levels of 0.9451 – 0.9838. Analysis: the downside fifth wave of larger degree (5) is presumably unfolding on the daily time frame. As its part, wave 1 of (5) is formed, a bullish correction is completed as second wave 2 of (5), and the third wave 3 of (5) is unfolding. The first wave of smaller degree i of 3 is formed... Read full author’s opinion and review in blog of #LiteFinance .. read more..
GBP/USD. May 3rd. Bears are counting on a strong US labor market
Friday, May 3,2024,05:12
On the hourly chart, the GBP/USD pair executed a new reversal in favor of the British pound on Thursday. They resumed the upward movement towards the 38.2% Fibonacci retracement level at 1.2565. A rebound of the pair's rate from this level will favor the US dollar and the resumption of the decline towards the 50.0% Fibonacci level at 1.2464. Maintaining quotes above the level of 1.2565 increases the likelihood of further growth towards the next level at 1.2611. In the short term, bulls continue to attack, but the "bearish" trend persists. The wave situation has mostly stayed the same lately. The last completed downward wave broke the low of the previous wave, and the new upward wave has y... .. read more..
USDCAD: Elliott wave analysis and forecast for 03.05.24 – 10.05.24
Friday, May 3,2024,04:52
Main scenario: consider long positions from corrections above the level of 1.3500 with a target of 1.4000 – 1.4200. Alternative scenario: breakout and consolidation below the level of 1.3500 will allow the pair to continue declining to the levels of 1.3354 – 1.3170. Analysis: the ascending first wave of larger degree (1) continues developing on the daily time frame, with wave 5 of (1) forming as its part. The third wave of smaller degree iii of 5 is developing on the H4 chart, with wave (iii) of iii continuing forming within. Apparently, a local corrective wave iv of (iii) of... Read full author’s opinion and review in blog of #LiteFinance .. read more..
Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 03.05.2024
Friday, May 3,2024,04:37
I welcome my readers! I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency. Elliott wave Bitcoin analysis A complex correction (4) can take the shape of a triple zigzag W-X-Y-XX-Z. Inside it, the actionary wave Y is currently unfolding. The impulse wave [C] of Y may end at the level of 53988.10, then the price will start rising in a new trend. Thus, in the current situation, consider opening short trades. An approximate trajectory of the Bitcoin future price movement is outlined in the... Read full author’s opinion and review in blog of #LiteFinance .. read more..
Technical Update - EURCHF and USDCHF uptrends running out of steam. Find the ...
Friday, May 3,2024,04:24
EURCHF has lost steam just below the April peak at around 0.9840-0.9850. That level seems too strong for EURCHF to penetrate. The level stems back from June 2023 as can be seen on the weekly chart. Key question is are we going to see another setback in EURCHF? On the daily chart the price movement has formed a double top like pattern. It is not yet confirmed though. A daily close below 0.9564 is required. However, that is quite a far distance away but if we are only taking closing prices in to account a break below 0.9684 will be a very good indication of EURCHF double top pattern is to unfold. A sell off down to the dip in April at 0.9543 could be seen. The strength indicator RSI i... .. read more..
Gold technical analysis - waiting for the US data to give us a direction
Friday, May 3,2024,04:21
Gold is consolidating right around a key trendline as the market awaits the US NFP and ISM Services PMI reports . We got a spike on Wednesday as the Fed was pretty dovish compared to the hawkish expectations leading into the event. Since it didn’t change anything on the macro side though, the market faded the reaction as the data continues to be what really matters. Gold Technical Analysis – Daily Timeframe On the daily chart, we can see that gold recently fell below a key trendline that was defining the bullish momentum that started from the lows around the 2000 level. From a risk management perspective, the buyers will have a much better risk to reward setup around the 2150 level where ... .. read more..
GBP/CHF Forecast: British Pound Plunges Against Swiss Franc - 03 May 2024
Friday, May 3,2024,04:12
The British pound has fallen rather significantly during the course of the trading session against the Swiss franc on Thursday, as we continue to see the 1.15 level offer a massive resistance barrier. .. read more..
GBP/JPY Daily Outlook
Friday, May 3,2024,03:58
Daily Pivots: (S1) 191.09; (P) 193.43; (R1) 194.99; More.. Intraday bias in GBP/JPY remains on the downside at this point. Sustained break of 55 D EMA (now at 191.42) will extend the fall from 200.53, as correction to rise from 178.32, to 61.8% retracement of 178.32 to 200.53 at 186.80. On the upside, break of […] The post GBP/JPY Daily Outlook appeared first on Action Forex . .. read more..
Short-term analysis for oil, gold, and EURUSD for 03.05.2024
Friday, May 3,2024,03:56
I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. Yesterday, oil continued its short-term downtrend. Oil price forecast for today: USCrude analysis Yesterday, oil continued its short-term downtrend, and its price dropped below the May 1 low. The next selling target is within the Target Zone 77.11 - 76.12. Currently, the price is correcting. If the correction continues, oil may reach resistance (A) 81.76 - 81.43. After reaching the resistance, consider short... Read full author’s opinion and review in... .. read more..
EUR/JPY Daily Outlook
Friday, May 3,2024,03:55
Daily Pivots: (S1) 163.57; (P) 165.48; (R1) 166.73; More… Intraday bias in EUR/JPY stays on the downside. Sustained break of 55 D EMA (now at 163.94) will extend the fall from 171.58, as a correction to rise from 153.15, to 61.8% retracement of 153.15 to 171.58 at 160.19. On the upside, above 167.37 will turn […] The post EUR/JPY Daily Outlook appeared first on Action Forex . .. read more..
S&P 500 Forecast: Continues to Consolidate (SIGNAL) - 03 May 2024
Friday, May 3,2024,03:55
The S&P 500 continues to consolidate overall in the United States on Thursday as we have the jobs never coming out on Friday. .. read more..
EUR/GBP Daily Outlook
Friday, May 3,2024,03:52
Daily Pivots: (S1) 0.8548; (P) 0.8556; (R1) 0.8566; More… No change in EUR/GBP’s outlook. Intraday bias remains neutral and more consolidations would be seen above 0.8529. But further decline is expected as long as 0.8582 resistance holds. Below 0.8529 will target 0.8491/7 support zone. In the bigger picture, outlook remains bearish as EUR/GBP is capped […] The post EUR/GBP Daily Outlook appeared first on Action Forex . .. read more..
EUR/AUD Daily Outlook
Friday, May 3,2024,03:49
Daily Pivots: (S1) 1.6287; (P) 1.6371; (R1) 1.6419; More… Intraday bias in EUR/AUD remains neutral at this point. Further decline is expected as long as 1.6494 resistance holds. Below 1.6288 will resume the fall from 1.6742 to 1.6127 support, or further to 100% projection of 1.7062 to 1.6127 from 1.6742 at 1.5807. However, break of […] The post EUR/AUD Daily Outlook appeared first on Action Forex . .. read more..
EUR/CHF Daily Outlook
Friday, May 3,2024,03:47
Daily Pivots: (S1) 0.9732; (P) 0.9781; (R1) 0.9816; More… EUR/CHF’s break of 0.9748 support argues that rebound from 0.9563 has completed after rejection by 0.9847 resistance. Intraday bias is back on the downside. Further fall would be seen towards 0.9563 as the third leg of the corrective pattern from 0.9847. In the bigger picture, as […] The post EUR/CHF Daily Outlook appeared first on Action Forex . .. read more..
USD/CAD Daily Outlook
Friday, May 3,2024,03:32
Daily Pivots: (S1) 1.3648; (P) 1.3697; (R1) 1.3724; More… Intraday bias in USD/CAD stays neutral at this point. On the upside above 1.3782 will target 1.3845 resistance first. Firm break there will resume larger rise from 1.3176 towards 1.3976 key resistance next. On the downside, break of 1.3631 will extend the fall from 1.3845. Sustained […] The post USD/CAD Daily Outlook appeared first on Action Forex . .. read more..
EUR/GBP Forecast: Euro Bounces Against British Pound - 03 May 2024
Friday, May 3,2024,03:30
The euro rallied slightly during the trading session on Thursday, as we are now testing the 50-Day EMA. .. read more..
AUD/USD Daily Report
Friday, May 3,2024,03:29
Daily Pivots: (S1) 0.6530; (P) 0.6551; (R1) 0.6588; More… Intraday bias in AUD/USD remains neutral first. On the upside, break of 0.6585 resistance will resume the rebound from 0.6361. That would also affirm the case that fall from 0.6870 has completed. Further rally would be seen to 0.6643 resistance next. Nevertheless, break of 0.6464 will […] The post AUD/USD Daily Report appeared first on Action Forex . .. read more..
USD/JPY Daily Outlook
Friday, May 3,2024,03:23
Daily Pivots: (S1) 152.37; (P) 154.33; (R1) 155.60; More… Intraday bias in USD/JPY remains on the downside as fall from 160.20 is in progress. As a correction to rise from 146.47, deeper decline would be seen to 55 D EMA (now at 152.25), and possibly further to 61.8% retracement of 146.47 to 160.20 at 151.71. […] The post USD/JPY Daily Outlook appeared first on Action Forex . .. read more..
USD/CHF Daily Outlook
Friday, May 3,2024,03:19
Daily Pivots: (S1) 0.9079; (P) 0.9126; (R1) 0.9155; More…. Intraday bias in USD/CHF remains neutral with focus on 0.9087 support. Decisive break there will indicate rejection by 0.9243 key resistance and turn bias back to the downside 0.9009 support. On the other hand, strong rebound from currently level, following by firm break of 0.9243 will […] The post USD/CHF Daily Outlook appeared first on Action Forex . .. read more..
GBP/USD Daily Outlook
Friday, May 3,2024,03:16
Daily Pivots: (S1) 1.2490; (P) 1.2517; (R1) 1.2563; More… No change in GBP/USD’s outlook as range trading continues. Intraday bias remains neutral at this point. On the upside, above 1.2568 will resume the rebound from 1.2298. Sustained break of 55 D EMA (now at 1.2577) will argue that fall from 1.2892 has completed already, and […] The post GBP/USD Daily Outlook appeared first on Action Forex . .. read more..