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NEWS & ANALYSIS POSTS

Technical Analysis:Your Daily Dose of Market Insights, May 3, 2023

Is it "high five" for the Fed? The Federal Reserve is expected to deliver a 25 basis-point interest-rate increase and signal a pause in its aggressive hiking campaign, amid persistent financial-market turmoil and renewed pressure from lawmakers to back off.

  1. Dollar in defensive mood after jobs data; Fed in focus read on

  2. Gold hovers above $2,000 as Fed rate decision looms read on

  3. Deja vu for Powell, as bank and debt fears revive read on

  4. European markets head for positive open ahead of Fed rate decision read more

  5. We’re bullish but expect volatility in oil markets read more

  6. The Week Ahead - Fed and ECB rate decisions, NFP plus earnings read on

GMT times today, all high impact data.1:15pm USD		 ADP Non-Farm Employment Change 148K	145K	 2:45pm USD		 Final Services PMI 53.7	53.7	 3:00pm USD		 ISM Services PMI 51.8	51.2	 3:30pm USD		 Crude Oil Inventories -0.5M	-5.1M	 7:00pm USD		 FOMC Statement  	 	 USD		 Federal Funds Rate
GMT times today, all high impact data.

Markets are back in full swing with a bang, earnings and economic data coming thick and fast. Our top forex trades for today, we look at the technicals and fundamentals to generate profits daily on the most traded correlated assets in the world.


1. Dollar Index (ICE)‎ intraday:

Pivot: 102.08


2. Gold Intraday:


Pivot: 2004.76


XAU/USD  forex currency and commodities price bar chart with green & red candles showing a trading trend over a 4 hour time frame; indicators include moving average and Bollinger bands plus Relative strength indicator.

3. USD/JPY Intraday:

Pivot: 136.88

USD/JPY  forex currency and commodities price bar chart with green & red candles showing a trading trend over a 4 hour time frame; indicators include moving average and Bollinger bands plus Relative strength indicator.

4. AUD/USD Intraday:

Pivot: 0.6667


AUD/USD  forex currency and commodities price bar chart with green & red candles showing a trading trend over a 4 hour time frame; indicators include moving average and Bollinger bands plus Relative strength indicator.


5. Crude Oil (WTI)‎ West Texas Intermediate: :


Pivot: 72.75


crude oil WTI  forex currency and commodities price bar chart with green & red candles showing a trading trend over a 4 hour time frame; indicators include moving average and Bollinger bands plus Relative strength indicator.

6. USD/CAD Intraday:

Pivot: 1.3598


USD/CAD  forex currency and commodities price bar chart with green & red candles showing a trading trend over a 4 hour time frame; indicators include moving average and Bollinger bands plus Relative strength indicator.

7. EUR/USD Intraday:

Pivot: 1.098

EUR/USD  forex currency and commodities price bar chart with green & red candles showing a trading trend over a 4 hour time frame; indicators include moving average and Bollinger bands plus Relative strength indicator.

8. GBP/USD Intraday:

Pivot: 1.247

GBP/USD  forex currency and commodities price bar chart with green & red candles showing a trading trend over a 4 hour time frame; indicators include moving average and Bollinger bands plus Relative strength indicator.

9. Nasdaq 100 Intraday:


Pivot:

13,133.99

Nasdaq 100 stock index  forex currency and commodities price bar chart with green & red candles showing a trading trend over a 4 hour time frame; indicators include moving average and Bollinger bands plus Relative strength indicator.

Key events that will impact.

  • Apple Inc. headlines another busy week of earnings that includes Advanced Micro Devices Inc. and Ford Motor Co. In Asia, banks including HSBC Holdings Plc and Macquarie Group Ltd. will deliver their profit reports. In Europe, Volkswagen AG and energy giants BP Plc and Shell Plc are on the docket.

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