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The GBP/USD pair also tried to continue its upward movement on Monday, which has been ongoing for several weeks, but the price failed to reach its recent local high near.
Trading Signals for EUR/USD for May 7-9, 2024: buy above 1.0780 (symmetrical triangle - 4/8 Murray)
Early in the European session, the EUR/USD pair is trading around 1.0762, showing signs of exhaustion and going through a technical correction below 5/8 Murray (1.0803). On the H4 chart.
Forecast for USD/JPY on May 7, 2024
USD/JPY The USD/JPY pair is trying to recover after a six-digit decline to the magnetic point formed by the intersection of the balance and MACD lines on the daily chart.
Outlook for GBP/USD on May 7. A new week, a new rise
GBP/USD also tried to continue its upward movement on Monday. Despite leaving the ascending channel last week, the upward movement persists. The British pound is once again rising.
Trading Signals for EUR/USD for May 6-8, 2024: sell below 1.0803 (overbought - 5/8 Murray)
EUR/USD is trading around 1.1045, below 5/8 Murray, above 200 EMA, and above 4/8 Murray. The instrument is showing signs of exhaustion. On the H4 chart, we can see that.
Trading Signals for GOLD (XAU/USD) for May 6-8, 2024: buy above $2,302 (21 SMA - 5/8 Murray)
Gold is trading around 2,330.57, above the 21 SMA, and above the 200 EMA. On the H4 chart, we can see that gold resumed its bullish cycle after reaching.
Weekly forecast based on simplified wave analysis of GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/GBP, and US dollar index on May 6th
The upcoming week is expected to see a general sideways movement in the price of the British pound major. One should expect growth towards the calculated resistance zone.
Why stock markets grow but USD weakens in light of poor US NFPs. USD/JPY could sink again, gold could rise
The government data on the US labor market published on Friday interrupted the victorious pace of robust employment in the US economy since the end of last year. Strong NFPs.
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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.