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The Federal Reserve decided to exercise patience. Fed Chair Jerome Powell was absolutely clear about this. Unlike previous FOMC meetings, where he asserted that the federal funds rate would.
Analysis of EUR/USD pair on May 2nd. The market calmly responded to the FOMC meeting
The wave analysis of the 4-hour chart for the EUR/USD pair remains unchanged. At the moment, we observe the construction of the presumed wave.
Trading Signals for GOLD (XAU/USD) for May 2-4, 2024: buy above $2,280 (200 EMA - symmetrical triangle)
Gold is trading around 2,287.62, above the 200 EMA, and within a symmetrical triangle pattern forming since April 16. Yesterday, gold reached the 2,230 area, it tried to break this.
Fed makes tough decision
The complexity of the situation when the economy is losing growth and inflation is rising, which is called stagflation, forced the Federal Reserve to act extremely cautiously yesterday.
EUR/USD: Simple trading tips for novice traders on May 2nd (US session)
Analysis of trades and trading tips for the European currency The first price test at 1.0704 in the first half of the day occurred when the MACD indicator had dropped.
GBP/USD: trading plan for the US session on May 2nd (analysis of morning deals). The pound was pushed below 1.2521
In my morning forecast, I highlighted the level of 1.2521 and planned to base market entry decisions on it. Let's look at the 5-minute chart and analyze what happened there.
EUR/USD. May 2nd. US statistics disappoint once again
The EUR/USD pair reversed in favor of the European currency on Wednesday and began a new upward movement, consolidating above the corrective level of 100.0%-1.0696. Thus, today, the uptrend.
GBP/USD: trading tips for beginners for European session on May 2
The price test of 1.2494 in the afternoon occurred at a time when the MACD indicator was just starting to move up from the zero mark, which confirmed the entry.
Trading plan for GBP/USD on May 2. Simple tips for beginners
Analyzing Wednesday's trades: GBP/USD on 1H chart The GBP/USD pair hardly moved on Wednesday, as it was mostly stagnant throughout the day. Although the price settled below the ascending trendline.
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This section is updated daily and contains market analysis prepared by professional analysts on behalf of InstaForex. Each of the specialists presents analytical reviews in accordance with his/her vision of the current situation on the foreign exchange and other markets. However, the outlooks below are neither recommendations nor instructions to any actions. They contain analysis of the current situation on financial markets. In some cases, analysts' opinions about current market conditions may differ.