Economic calendar (Universal time) There are few important events in today’s economic calendar. In the afternoon, we can only note data on the number of initial applications for unemployment (USA, 12:30). EUR / USD Yesterday, the pair continued to decline, and so far has descended to the historical support area of 1.0778. The main task […]

To be honest, yesterday was a good illustration of the fact that in an extreme situation, and what is happening now in the world can not be called anything else, the market mostly ignores minor and insignificant macroeconomic data, even if under ordinary conditions, they seemed somehow incredibly important. It may seem that at first […]

EURTRY surged to a new record high today, testing the 7.8276 level and continuing the strong upside rally after the bounce off the 6.8810 support. The upward sloping simple moving averages (SMAs) are following the price action as well as the technical indicators. The RSI inserted itself the overbought zone, while the MACD remains above […]

Yen and dollar shine amid dire US and EU data, trade tensions, bankruptcy fears Stocks close lower, but solid Chinese trade numbers lift futures and aussie Pound perks up after BoE keeps stimulus powder dry, but risks linger US jobless claims on the menu today; can equities continue to defy gravity? Yen and dollar stand […]

The ADP report on private sector employment showed an unprecedented drop in private sector jobs by 20.236 million workers, but in general it corresponded to the growth of unemployment applications in the last 5 weeks and did not cause much surprise to the markets. It is already clear that the level of nonfarm payrolls tomorrow […]

The EUR / USD pair reacts sharply to economic forecasts from the European Commission, which are published three times a year, mainly by winter, spring, and autumn. This time was no exception – in response to the release of the spring report, the euro sank throughout the market, and paired with the greenback, it tested […]

The eternal confrontation between American and European currencies, worsened during the COVID-19 pandemic, is gaining impulse. Important decisions made by several governments to minimize the negative effects of coronavirus on the economy put pressure on key currencies. Experts believe that a small imbalance will remain in the EUR/USD pair by the end of this month. […]

EUR/USD is trading at 1.0791 and it could reach fresh new lows soon as the Dollar Index seems strong enough to climb higher. I said yesterday that the Dollar could appreciate versus all its rivals if the ADP Non-Farm Employment Change comes in better than expected, the indicator was reported at -20,236K, versus the -20,500K […]

Trend analysis (Fig. 1). Today, an upward pullback is possible from the level of 1.2436 (closing of yesterday’s candle) with a target at 1.2447 – a 50% pullback level (presented in a red dotted line). If this level is reached, the upward movement is likely to continue with a target at 1.2495 – a 61.8% […]

Trend analysis (Fig. 1). Today, the downward movement is likely to continue from the level of 1.0796 (closing of yesterday’s candle) with the target at the lower fractal 1.0728 (presented in a red dashed line). From this level, the price may continue to move downward with the target at the support line 1.0674 (presented in […]

Let’s be honest, the market simply ignored the ADP employment data yesterday. Exactly the same as a month ago. No, there was a reaction, of course, but it can be seen through a magnifying glass. Basically, the market moved while European data was released. And although it looks a little strange, in fact, there is […]

After the optimistic mood of investors in April, which was based on the expectation of a gradual opening of economic activity in Europe and the USA, as well as on the expectations of advancement in the invention of a medicine for COVID-19, May began with a rather slow activity, except for the dynamics in the […]

Forecast for May 7: Analytical review of currency pairs on the scale of H1: For the euro / dollar pair, the key levels on the H1 scale are: 1.0900, 1.0870, 1.0852, 1.0818, 1.0792, 1.0771 and 1.0728. Here, we are following the development of the downward cycle of May 1. The continuation of the downward movement […]

Good afternoon traders! Here is a trading idea for gold. APD published yesterday its preliminary data on US unemployment, the content of which came out in the framework of forecasts: The report pushed the US dollar to rally all afternoon, closing with an “absorption” on the daily chart: A short-term initiative was observed during the […]

AUDUSD nicely landed on the 20-day simple moving average (SMA) following its pullback from a peak of 0.6569 on April 30. Despite the latest downside reversal, the main trend remains up in the short-term picture, with the price set to confirm another higher low at 0.6371 and head north again if the bulls manage to […]

EURUSD was trading not too far from the bearish cross within the 20- and 40-period simple moving averages (SMAs) near 1.0800 in the 4-hour chart, creating a negative movement in the consolidation mode. But momentum indicators suggest some negative moves for the pair to decline further. The near-term bias is looking neutral-to-bearish as the MACD is flatlining […]

WTI oil futures’ pullback ran out of steam before reaching the 50-day simple moving average (SMA) at the 26.00 handle. This price stall can also be seen in the hovering of the RSI above the 50 level and the smoothing of the incline of the red Tenkan-sen line. The short-term oscillators provide conflicting opinions. Looking […]

UK to lift quarantine on Monday, according to Prime Minister Boris Johnson on May 6. Johnson said in a public statement that he would set out the next phase of government strategy, the reason of which is that it would be “good” for people to understand what to expect before the changes take into effect. […]

Trading recommendations: Silver down to 14.5. The material has been provided by InstaForex Company – www.instaforex.com

Employment numbers for April are due out of Canada on Friday (12:30 GMT) but as far as jobs reports go, this will be one that nobody will be looking forward to. Canada has been no exception in the global pandemic of the coronavirus and after losing one million jobs in March, the employment picture is […]

Technical Market Outlook: The GBP/USD pair has broken below the short-term trend line support and below the technical support from the level of 1.2406. Please notice, the momentum indicator is now negative, so the sell-off might accelerate towards 1.2246 level. It looks like bulls are not strong enough to push the price above the level […]

Technical Market Outlook: The EUR/USD bears have manage to push the prices even deeper towards the level of 1.0782. The target for bears is seen at the level of 1.0779 – 1.0767, which is a key short-term support zone for bulls. If this zone is violated, then the swing lows located at the level of […]

Crypto Industry News: The Ukrainian Ministry of Energy believes that the use of nuclear power plants to mine cryptocurrencies may be one of the best ways to counteract the current energy stagnation. According to the statement, local nuclear power plants generated a surplus due to downtime due to COVID-19. Ukrainians now want to apply progressive […]

Crypto Industry News: The difficulty of mining Bitcoin, which is a measure of how difficult it is to compete for block prizes, has reached the highest level in the last adjustment of the network before halving occurs. The world’s largest blockchain network in terms of market capitalization, corrected the difficulty of mining to 16.10 trillion […]

Signals for the EUR/USD pair: If the pair breaks through at 1.0831, the euro can grow to the area of 1.0882 and 1.0923. A breakthrough at 1.0787 is likely to lead to a sell-off of the euro at 1.0755 and 1.0728. Signals for the GBP/USD pair: If the pair breaks through at 1.2342, the British […]