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May 2811 min read

Free Forex Trading Signals for Maximum Profit - Expert Insights and Daily Updates - May 28, 2024


  • Stocks Rise, Dollar Slips: Asian stocks continue gains while the dollar weakens ahead of crucial global inflation data.

  • Global Inflation Prints: Investors await inflation data from Australia, Japan, the Eurozone, and the US for monetary policy guidance.

  • Fed's Core PCE Deflator: Expected to show modest relief, influencing future US rate decisions.

  • Gold and Oil Steady: Gold prices hold steady. Oil rises on anticipation of the OPEC+ supply meeting and increased US summer demand.

  • Copper and Palm Oil Rally: Copper prices rise with China's property market support, while palm oil climbs on renewed demand.

  • Australian Dollar Outperforms: Gains due to a weaker US dollar and positive risk sentiment.

  • Currency Movements: The Bloomberg Dollar Spot Index falls 0.1%. Euro and Japanese yen show slight gains against the dollar.

DXY Dollar Index, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
The U.S. 🟢 Dollar Index, pivotal for forex traders, comprises six key currencies: EUR, JPY, GBP, CAD, SEK, and CHF.

Forex Trading Signals For:

EUR/USD  GBP/USD  USD/JPY  USD/CHF  NZD/USD  AUD/USD USD/CAD  EUR/GBP  EUR/JPY EUR/CHF USD/SEK XAU/USD (Gold)  WTI (CL-Oil)  BTC/USD



EUR/USD A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 EUR/USD

Intraday Trading Signal for EUR/USD

Trade Details

  • Trade Direction: Buy

  • Entry Point: 1.0875

  • Take Profit: TP1: 1.0900, TP2: 1.0930

  • Stop Loss: 1.0840

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently above the middle band, indicating a bullish trend.

  • Bands are expanding, suggesting increased volatility and potential for a continuation of the upward movement.

  1. Ichimoku Cloud:

  • The price is above the cloud, reinforcing the bullish outlook.

  • The Leading Span A is above Leading Span B, indicating an uptrend.

  1. Average True Range (ATR):

  • Current ATR value is 0.00151, indicating moderate volatility.

  • The relatively stable ATR suggests that the price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is above the signal line, showing bullish momentum.

  • The histogram is in positive territory, confirming the upward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 65.01, below the overbought threshold, indicating there is still room for upward movement without immediate risk of a reversal.

Fundamental Analysis Insight

The CB Consumer Confidence report for the USD is due today, which could significantly impact the EUR/USD pair. A positive report might strengthen the USD, but the current technical setup suggests a bullish outlook for EUR/USD. Additionally, the global market sentiment is favoring risk-on assets, supporting the upward movement in EUR/USD.




Intraday Trading Signal for GBP/USD

Trade Details

  • Trade Direction: Buy

  • Entry Point: 1.2777

  • Take Profit: TP1: 1.2800, TP2: 1.2830

  • Stop Loss: 1.2750

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently above the middle band, indicating a bullish trend.

  • Bands are widening, suggesting increased volatility and potential for a continuation of the upward movement.

  1. Ichimoku Cloud:

  • The price is above the cloud, reinforcing the bullish outlook.

  • The Leading Span A is above Leading Span B, indicating an uptrend.

  1. Average True Range (ATR):

  • Current ATR value is 0.00186, indicating moderate volatility.

  • The stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is above the signal line, showing bullish momentum.

  • The histogram is in positive territory, confirming the upward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 72.87, indicating overbought conditions but suggesting strong bullish momentum.

Fundamental Analysis Insight

Today's focus on the CB Consumer Confidence report for the USD will impact the GBP/USD pair. Positive USD data might strengthen the dollar, but the current technical setup shows a bullish outlook for GBP/USD. Additionally, the broader market sentiment favors risk-on assets, supporting the upward movement in GBP/USD.



Intraday Trading Signal for USD/JPY

Trade Details

  • Trade Direction: Buy

  • Entry Point: 156.77

  • Take Profit: TP1: 157.20, TP2: 157.50

  • Stop Loss: 156.50

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently near the middle band, indicating potential for upward movement.

  • Bands are relatively stable, suggesting moderate volatility.

  1. Ichimoku Cloud:

  • The price is above the cloud, indicating a bullish trend.

  • The Leading Span A is above Leading Span B, reinforcing the upward momentum.

  1. Average True Range (ATR):

  • Current ATR value is 0.237, indicating moderate volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is above the signal line, showing bullish momentum.

  • The histogram is close to the zero line, indicating consolidation but with a bullish bias.

  1. Relative Strength Index (RSI):

  • RSI is at 58.61, below the overbought threshold, indicating there is still room for upward movement.

Fundamental Analysis Insight

Today's CB Consumer Confidence report for the USD will significantly impact the USD/JPY pair. A positive report might strengthen the dollar, supporting the bullish outlook for USD/JPY. Additionally, the global market sentiment and the current technical setup suggest a bullish trend for the pair.



Intraday Trading Signal for USD/CHF

Trade Details

  • Trade Direction: Sell

  • Entry Point: 0.9120

  • Take Profit: TP1: 0.9100, TP2: 0.9080

  • Stop Loss: 0.9145

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently below the middle band, indicating a bearish trend.

  • Bands are relatively stable, suggesting moderate volatility.

  1. Ichimoku Cloud:

  • The price is below the cloud, indicating a bearish trend.

  • The Leading Span A is below Leading Span B, reinforcing the downward momentum.

  1. Average True Range (ATR):

  • Current ATR value is 0.00138, indicating low to moderate volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is below the signal line, showing bearish momentum.

  • The histogram is in negative territory, confirming the downward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 42.93, below the neutral level, indicating bearish momentum.

Fundamental Analysis Insight

Today's CB Consumer Confidence report for the USD will significantly impact the USD/CHF pair. A positive report might strengthen the dollar, potentially altering the bearish outlook. However, the current technical setup suggests a bearish trend for USD/CHF. Additionally, the broader market sentiment shows mixed signals, adding to the cautious approach.



Intraday Trading Signal for NZD/USD

Trade Details

  • Trade Direction: Buy

  • Entry Point: 0.6158

  • Take Profit: TP1: 0.6180, TP2: 0.6200

  • Stop Loss: 0.6130

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently above the middle band, indicating a bullish trend.

  • Bands are widening, suggesting increased volatility and potential for a continuation of the upward movement.

  1. Ichimoku Cloud:

  • The price is above the cloud, reinforcing the bullish outlook.

  • The Leading Span A is above Leading Span B, indicating an uptrend.

  1. Average True Range (ATR):

  • Current ATR value is 0.00145, indicating moderate volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is above the signal line, showing bullish momentum.

  • The histogram is in positive territory, confirming the upward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 68.28, approaching the overbought threshold but still indicating bullish momentum.

Fundamental Analysis Insight

Today's focus on the CB Consumer Confidence report for the USD will impact the NZD/USD pair. Positive USD data might strengthen the dollar, potentially affecting the bullish outlook. However, the current technical setup suggests a strong bullish trend for NZD/USD. Additionally, the broader market sentiment and positive risk tone support the upward movement in NZD/USD.





Intraday Trading Signal for AUD/USD

Trade Details

  • Trade Direction: Buy

  • Entry Point: 0.6665

  • Take Profit: TP1: 0.6680, TP2: 0.6700

  • Stop Loss: 0.6640

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently above the middle band, indicating a bullish trend.

  • Bands are widening, suggesting increased volatility and potential for a continuation of the upward movement.

  1. Ichimoku Cloud:

  • The price is above the cloud, reinforcing the bullish outlook.

  • The Leading Span A is above Leading Span B, indicating an uptrend.

  1. Average True Range (ATR):

  • Current ATR value is 0.00152, indicating moderate volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is above the signal line, showing bullish momentum.

  • The histogram is in positive territory, confirming the upward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 61.64, below the overbought threshold, indicating there is still room for upward movement.

Fundamental Analysis Insight

Today's focus on the CB Consumer Confidence report for the USD will impact the AUD/USD pair. Positive USD data might strengthen the dollar, potentially affecting the bullish outlook. However, the current technical setup suggests a strong bullish trend for AUD/USD. Additionally, the broader market sentiment and positive risk tone support the upward movement in AUD/USD.



Intraday Trading Signal for USD/CAD

Trade Details

  • Trade Direction: Sell

  • Entry Point: 1.3622

  • Take Profit: TP1: 1.3600, TP2: 1.3570

  • Stop Loss: 1.3650

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently below the middle band, indicating a bearish trend.

  • Bands are relatively stable, suggesting moderate volatility.

  1. Ichimoku Cloud:

  • The price is below the cloud, indicating a bearish trend.

  • The Leading Span A is below Leading Span B, reinforcing the downward momentum.

  1. Average True Range (ATR):

  • Current ATR value is 0.00183, indicating moderate volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is below the signal line, showing bearish momentum.

  • The histogram is in negative territory, confirming the downward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 37.08, indicating bearish momentum but not yet in oversold territory.

Fundamental Analysis Insight

Today's CB Consumer Confidence report for the USD will significantly impact the USD/CAD pair. A positive report might strengthen the dollar, potentially altering the bearish outlook. However, the current technical setup suggests a bearish trend for USD/CAD. Additionally, broader market sentiment and the stable oil prices, which positively impact the Canadian dollar, support the downward movement in USD/CAD.



Intraday Trading Signal for EUR/GBP

Trade Details

  • Trade Direction: Sell

  • Entry Point: 0.8512

  • Take Profit: TP1: 0.8490, TP2: 0.8470

  • Stop Loss: 0.8535

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently below the middle band, indicating a bearish trend.

  • Bands are relatively stable, suggesting moderate volatility.

  1. Ichimoku Cloud:

  • The price is below the cloud, indicating a bearish trend.

  • The Leading Span A is below Leading Span B, reinforcing the downward momentum.

  1. Average True Range (ATR):

  • Current ATR value is 0.00093, indicating low to moderate volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is below the signal line, showing bearish momentum.

  • The histogram is in negative territory, confirming the downward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 43.82, indicating bearish momentum but not yet in oversold territory.

Fundamental Analysis Insight

Today's CB Consumer Confidence report for the USD will impact the EUR/GBP pair indirectly through broader market sentiment. The current technical setup suggests a bearish trend for EUR/GBP. Additionally, the broader market sentiment, with a stronger GBP, supports the downward movement in EUR/GBP.


EURJPY"Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
🟢 EUR/JPY

Intraday Trading Signal for EUR/JPY

Trade Details

  • Trade Direction: Buy

  • Entry Point: 170.58

  • Take Profit: TP1: 171.00, TP2: 171.50

  • Stop Loss: 170.00

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently above the middle band, indicating a bullish trend.

  • Bands are widening, suggesting increased volatility and potential for a continuation of the upward movement.

  1. Ichimoku Cloud:

  • The price is above the cloud, reinforcing the bullish outlook.

  • The Leading Span A is above Leading Span B, indicating an uptrend.

  1. Average True Range (ATR):

  • Current ATR value is 0.302, indicating moderate volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is above the signal line, showing bullish momentum.

  • The histogram is in positive territory, confirming the upward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 63.86, below the overbought threshold, indicating there is still room for upward movement.

Fundamental Analysis Insight

Today's CB Consumer Confidence report for the USD will impact the EUR/JPY pair indirectly through broader market sentiment. The current technical setup suggests a strong bullish trend for EUR/JPY. Additionally, the broader market sentiment and risk-on mood support the upward movement in EUR/JPY.


EUR/CHF "Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
🟢 EUR/CHF

Intraday Trading Signal for EUR/CHF

Trade Details

  • Trade Direction: Buy

  • Entry Point: 0.9924

  • Take Profit: TP1: 0.9940, TP2: 0.9960

  • Stop Loss: 0.9900

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently above the middle band, indicating a bullish trend.

  • Bands are relatively stable, suggesting moderate volatility.

  1. Ichimoku Cloud:

  • The price is above the cloud, reinforcing the bullish outlook.

  • The Leading Span A is above Leading Span B, indicating an uptrend.

  1. Average True Range (ATR):

  • Current ATR value is 0.00125, indicating low to moderate volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is above the signal line, showing bullish momentum.

  • The histogram is in positive territory, confirming the upward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 61.75, below the overbought threshold, indicating there is still room for upward movement.

Fundamental Analysis Insight

Today's CB Consumer Confidence report for the USD will impact the EUR/CHF pair indirectly through broader market sentiment. The current technical setup suggests a strong bullish trend for EUR/CHF. Additionally, the broader market sentiment and risk-on mood support the upward movement in EUR/CHF.


USD/SEK "Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
🟢 USD/SEK

Intraday Trading Signal for USD/SEK

Trade Details

  • Trade Direction: Sell

  • Entry Point: 10.5723

  • Take Profit: TP1: 10.5500, TP2: 10.5200

  • Stop Loss: 10.6000

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently below the middle band, indicating a bearish trend.

  • Bands are widening, suggesting increased volatility and potential for a continuation of the downward movement.

  1. Ichimoku Cloud:

  • The price is below the cloud, indicating a bearish trend.

  • The Leading Span A is below Leading Span B, reinforcing the downward momentum.

  1. Average True Range (ATR):

  • Current ATR value is 0.03060, indicating moderate volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is below the signal line, showing bearish momentum.

  • The histogram is in negative territory, confirming the downward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 28.03, indicating bearish momentum and approaching oversold conditions.

Fundamental Analysis Insight

Today's CB Consumer Confidence report for the USD will impact the USD/SEK pair. A positive report might strengthen the dollar, potentially altering the bearish outlook. However, the current technical setup suggests a strong bearish trend for USD/SEK. Additionally, the broader market sentiment and risk-off mood support the downward movement in USD/SEK.


XAU/USD "Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
🟢 XAU/USD

Intraday Trading Signal for XAU/USD (Gold)

Trade Details

  • Trade Direction: Sell

  • Entry Point: 2346

  • Take Profit: TP1: 2330, TP2: 2310

  • Stop Loss: 2360

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently below the middle band, indicating a bearish trend.

  • Bands are widening, suggesting increased volatility and potential for a continuation of the downward movement.

  1. Ichimoku Cloud:

  • The price is below the cloud, indicating a bearish trend.

  • The Leading Span A is below Leading Span B, reinforcing the downward momentum.

  1. Average True Range (ATR):

  • Current ATR value is 10.61, indicating high volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is below the signal line, showing bearish momentum.

  • The histogram is in negative territory, confirming the downward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 41.05, indicating bearish momentum but not yet in oversold territory.

Fundamental Analysis Insight

Today's CB Consumer Confidence report for the USD will impact the XAU/USD pair. A positive report might strengthen the dollar, potentially further supporting the bearish outlook for gold. The current technical setup suggests a strong bearish trend for XAU/USD. Additionally, the broader market sentiment and stronger USD support the downward movement in XAU/USD.


CL Oil "Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
🟢 WTI Light Crude Oil

Intraday Trading Signal for WTI Crude Oil (USOIL)

Trade Details

  • Trade Direction: Buy

  • Entry Point: 78.79

  • Take Profit: TP1: 79.50, TP2: 80.00

  • Stop Loss: 78.00

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently above the middle band, indicating a bullish trend.

  • Bands are widening, suggesting increased volatility and potential for a continuation of the upward movement.

  1. Ichimoku Cloud:

  • The price is above the cloud, indicating a bullish trend.

  • The Leading Span A is above Leading Span B, reinforcing the upward momentum.

  1. Average True Range (ATR):

  • Current ATR value is 0.49, indicating moderate volatility.

  • Stable ATR suggests that price movements are consistent with recent volatility levels.

  1. MACD:

  • MACD line is above the signal line, showing bullish momentum.

  • The histogram is in positive territory, confirming the upward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 59.96, below the overbought threshold, indicating there is still room for upward movement.

Fundamental Analysis Insight

Today's CB Consumer Confidence report for the USD will impact WTI Crude Oil prices indirectly through broader market sentiment and potential impacts on the USD. The current technical setup suggests a strong bullish trend for WTI Crude Oil. Additionally, the broader market sentiment and risk-on mood support the upward movement in WTI Crude Oil.


BITCOIN/USD"Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
🟢 Bitcoin

Intraday Trading Signal for Bitcoin (BTCUSD)

Trade Details

  • Trade Direction: Sell

  • Entry Point: 67,787

  • Take Profit: TP1: 67,000, TP2: 66,000

  • Stop Loss: 69,000

  • Confidence Level: Moderate

Indicator Analysis

  1. Bollinger Bands:

  • The price is currently near the lower band, indicating potential oversold conditions.

  • The bands are contracting, suggesting decreased volatility and a potential for reversal.

  1. Ichimoku Cloud:

  • The price is below the cloud, indicating a bearish trend.

  • Leading Span A is below Leading Span B, confirming the bearish sentiment.

  1. Average True Range (ATR):

  • Current ATR value is 898, indicating high volatility.

  • The increasing ATR suggests stronger price movements and potential continuation of the trend.

  1. MACD:

  • MACD line is below the signal line, showing bearish momentum.

  • The histogram is in negative territory, reinforcing the downward trend.

  1. Relative Strength Index (RSI):

  • RSI is at 43.13, indicating potential oversold conditions but still room for further downside movement.

Fundamental Analysis Insight

Bitcoin is currently facing pressure due to broader market sentiment and regulatory news. With the key CB Consumer Confidence report for the USD today, any significant changes in market sentiment can impact Bitcoin prices. The technical indicators suggest a bearish trend for Bitcoin, and combined with potential negative sentiment from the market, it supports the sell signal.

 

Disclaimer: These Forex Trading Signals are based on the current charts and market conditions. Always conduct your own analysis and consider risk management strategies before entering any trade. Markets are dynamic, and conditions can change rapidly.


Forex & Commodities trading signals, comments and analysis created and reflect the views forex368.com at any given time and are subject to change at any time. ©2024 by forex368.com.


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