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The EUR/USD pair continued its upward movement on Wednesday, reaching the corrective level of 76.4%–1.0892. A rebound of the pair's rate from this level will favor the American currency.
GBP/USD: trading tips for beginners for European session on May 16
The price test of 1.2627 occurred at a time when the MACD indicator was just starting to move up from the zero mark, which confirmed the entry point.
Trading plan for EUR/USD on May 16. Simple tips for beginners
Analyzing Wednesday's trades: EUR/USD on 1H chart The EUR/USD continued its upward movement on Wednesday, and it traded even higher. Yesterday proved the obvious fact: the market has started.
Forecast for EUR/USD on May 16, 2024
EUR/USD Yesterday's market rally was spectacular: S&P 500 up 1.17%, gold up 1.55%, euro up 0.69% (64 pips). However, what's spectacular about it is not so much the price dynamics.
Outlook for GBP/USD on May 16. The pound rises again
GBP/USD continued its upward movement on Wednesday. No event could have influenced the market to buy the British pound, as the only event on Wednesday was the US inflation report.
The Bank of Japan will not allow the yen to weaken. Overview of USD/JPY
The yen was able to strengthen against the dollar after the Bank of Japan published a Summary of Opinions from its monetary policy meeting on April.
Trading Signals for GOLD (XAU/USD) for May 15-17, 2024: sell below $2,375 or buy if rebounds at $2,354 (21 SMA - 6/8 Murray)
If gold falls and consolidates below 2,340, the outlook could be negative and we could expect a bearish acceleration towards the psychological level of $2,300 or around.
Analysis of the GBP/USD pair on May 15th. The p[ound celebrated the slowdown in inflation in the United States
The wave analysis for the GBP/USD pair remains quite complex. A successful attempt to break through the Fibonacci level of 50.0% in April indicated the market's readiness to build.
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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.