May 2024

USDJPY managed to sustain its advance as the pair managed to hit 157.40 so far. Our target and resistance is still around 158.00, which could give a chance for another correction with support around 155.80. Above 158.00, a chance for…
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Crude Oil hit another rebound correction, as anticipated in the last few weeks. On the chart, the market is closing in on the 81.00-25 resistance zone, and if prices remain below this resistance, then another drop towards 77.50 will be…
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GBPUSD managed to meet the target of 1.2800, as we advised in the last few weeks. As we see on the chart, should the market keep holding prices below 1.2800-15, a correction will be expected with supports at 1.2735 and 1.2640. Above…
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As we saw in the last two weeks, the Euro managed to hold trades above the first support at 1.0820. As we can see from the chart, if price action trades above 1.0820, then there is a chance for a further advance toward 1.0980, which…
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Eurozone April Inflation: Confirming Rate Cut for June? Today marked the start of the two-day process in which the EuroZone updates the markets on its April inflation reading. The final number will be available on Friday, after major…
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XAUUSD tests demand zone Gold corrected after reaching oversold levels as prices ventured towards the $2300 area. The metal is now testing the 2335 zone near the base of the previous breakout rally. An initial bounce is a sign of…
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There is a lot of anticipation ahead of China's May PMI readings, particularly given its effect on commodity currencies. After the blowout first quarter GDP results, markets are now at least hoping China's economy will continue its rebound.…
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The Dow Jones (US 30) attempts to rebound The Dow Jones tumbled over 600 points as Boeing shares dropped over 7% in recent trading. The index is still trying to preserve its strength after hitting another fresh high, which saw the 40,000…
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