Daily Technical analysis for May 07, 2021
EUR/USD
Current level – 1.2062
The pair managed to find solid support around 1.2000, and the area can be considered the bottom of the corrective move that started from 1.2140. The first resistance at the time of writing the analysis is the 1.2066 zone. This level may not be breached on the first try. It is possible that the bears will make a final move, which is expected to be limited to the area between 1.2020 and 1.2000. This would allow the bulls better entry levels. Additionally, the rally in EUR/USD is expected to renew, with first targets at around 1.2126 and 1.2180. Today, investors will closely monitor the upcoming data from the United States at 12:30 GMT on the monthly non-farm payrolls, with most forecasts suggesting about 1 million new jobs.
USD/JPY
Current level – 109.11
The market is consolidating between the support at 109.00 and the resistance at 109.40. Larger time frames are also showing indecision to resume the uptrend and new bearish pressure towards 107.80 is not excluded. A break above 109.40 can be considered a signal for new growth opportunities for the pair. If this does not happen, there can be sharp sell-offs aiming straight for the zone 107.50.
GBP/USD
Current level – 1.3895
Yesterday’s unanimous decision by the Bank of England to not change interest rates and quantitative easing failed to help the market find direction. Despite the increased activity, prices are again at the consolidation zone around 1.3900. The support zone at 1.3860-40 was tested again, as the bulls managed to defend their ground. The forecasts remain positive for new gains, and expectations are for a break of local resistance at 1.3913 and a rally towards 1.4000. First support for the bulls is 1.3860, followed by 1.3790.
Gold price surpasses the first target
Gold price ended yesterday above 1800.00 level, confirming the continuation of the expected bullish wave in the upcoming period, organized inside the bullish channel that appears on the chart, reminding you that our next target reaches 1838.00.
The EMA50 continues to support the expected rise, noting that breaking 1800.00 will press on the price to test 1780.00 areas before any new attempt to rise.
The expected trading range for today is between 1800.00 support and 1840.00 resistance.
The expected trend for today: Bullish
Source: Technical analysis
Comments (43)
… [Trackback]
[…] Find More Information here on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More Information here to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Read More to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More on to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More Information here on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Information to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Read More Information here to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Here you can find 81432 additional Information on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More Information here to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] There you can find 74692 more Information on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] There you can find 48624 more Information on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More Information here on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Read More here on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] There you can find 77067 more Info to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Read More here to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More on to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Info on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Info to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More on on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More Information here on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More Information here on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Here you will find 87441 additional Info to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Here you will find 19845 more Info to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
cialis online no prescription Taillefer R
While similar to a standard transurethral resection see Technique, a radical TURP requires superior transurethral surgical skill; takes more time; is more difficult to perform; and carries slightly greater risks of perforation, extravasation, dilutional hyponatremia, and bleeding buy lasix water pills online Like any medication, Hygroton can cause a variety of potential side effects ranging from mild to severe
… [Trackback]
[…] Read More Information here on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
Thanks a lot for sharing this with all people you really recognize what you’re speaking approximately! Bookmarked. Please also discuss with my website =). We will have a link exchange contract among us!
… [Trackback]
[…] Here you can find 47803 more Info on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Read More on to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
Thanks for another informative web site. The place else could I get that kind of info written in such an ideal method? I have a venture that I am simply now operating on, and I have been at the glance out for such information.
One thing I have actually noticed is that there are plenty of fallacies regarding the lenders intentions any time talking about foreclosed. One myth in particular is the fact the bank desires your house. The financial institution wants your hard earned cash, not the house. They want the amount of money they loaned you having interest. Staying away from the bank will undoubtedly draw some sort of foreclosed realization. Thanks for your posting.
… [Trackback]
[…] Information to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Read More Info here on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
What?s Going down i am new to this, I stumbled upon this I’ve discovered It absolutely useful and it has aided me out loads. I am hoping to give a contribution & assist other users like its aided me. Good job.
… [Trackback]
[…] There you can find 1340 more Information on that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
… [Trackback]
[…] Find More to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
I didn t begin to grieve until days later, but hard as it was, I recognized that my grief was for me soft tab cialis Clomid Recipe
… [Trackback]
[…] Find More to that Topic: dayfinanceltd.com/daily-technical-analysis-for-may-07-2021/ […]
Yes! Finally someone writes about Sex Dating.
Right now it sounds like Movable Type is the top blogging platform out there right now.
(from what I’ve read) Is that what you are using on your blog?
Hi to every body, it’s my first pay a quick visit
of this weblog; this blog carries remarkable and actually excellent material in support of visitors.
Hi, I think your site might be having browser compatibility issues.
When I look at your blog in Ie, it looks fine but when opening in Internet Explorer, it has some overlapping.
I just wanted to give you a quick heads up! Other then that, great blog!