2021-05-28 • Updated
The market is preparing for an active week. Have a look at the trading instruments with the most interesting potential!
Trade ideas for the new week
Is the uptrend slowing down after the euro’s attempt to break above 1.22? Looks like that! Friday will be the climax of the week with Nonfarm Payrolls (NFP) and the speeches of European and American central bank governors. EUR/USD may slide to 1.2100.
After New Zealand’s central bank sent NZD/USD flying, traders will expect no less from the Reserve Bank of Australia. The RBA will meet on Monday and Australian economic growth data will come out on Wednesday. A breakout in AUD/USD will lead it either to 0.7580 or to 0.7960.
The precious metal reached $1900 and made a natural pause. XAU/USD will remain in a short-term uptrend as long as the price is above $1880. It will be able to keep pushing higher if the US figures disappoint.
Brent oil is near the strong resistance of $70-$71. OPEC+ nations will meet on June 1. All eyes will be on the prospect of Iranian oil returning to the market and the group’s view on the demand for oil. Follow the news to grasp trade opportunities.
This stock is at the center of the market’s attention. According to analysts, there may be a short squeeze, i.e. the rapid closing of sell trades. If so, the price will keep soaring toward 2021 high around $60.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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