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In my morning forecast, I paid attention to the level of 1.2529 and planned to make decisions on market entry based on it. Let's look at the 5-minute chart.
EUR/USD. May 7th. The bulls are running out of strength
The EUR/USD pair on Monday retraced to the resistance zone of 1.0785–1.0797, which is part of the larger resistance zone of 1.0764–1.0806. A bounce of quotes from this zone will.
Hot forecast for EUR/USD on May 7, 2024
The eurozone producer price index rose from -8.5% to -7.8%, but it had no effect on the situation, and the single currency stood still all day. Of course.
Growth continues: Wall Street in green for third day in a row
Indices continue to rise since the end of last week Paramount Global rises as bidders await special committee decision Tyson Foods shares fall on consumer demand concerns Spirit Airlines hits.
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 GBP/USD on May 7, 2024
GBP/USD Yesterday, the British pound closed the day higher, but it only happened for the sake of solidarity with other counter-dollar currencies. However, the quote did not reach the target.
Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Tuesday May 7, 2024.
Although on the 4 hour chart, Crude Oil Commodity still dominates with Seller where this is confirmed by MA 50 which is below MA 200, but with the appearance.
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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.