FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

The dollar was mixed yesterday as investors looked for clues on thin UK bank holiday trade.

Currency pairs as well as commodities traded sideways as volumes remained light throughout the trading session.

Investors will have more volumes to play with today amid Fed Chair and President Trump’s speeches, yet, still under controlled levels.

Today’s Forecast for Important Trading Indicators

• BTCUSD – Bitcoin declines from recent multi-month high as $10K hurdle weighs in. Bitcoin price seems to have reached a top for the time being at the $9768 level against the Dollar. Although the price is not showing any bearish bias and the one-hour RSI shows bulls maintain control, a bearish push towards 9K and 8.5K could play in as investors will look into getting in the market low before the $10K break.

MARKET MOVERS

• EURUSD – Euro closes session marginally lower, daily formation shows indecision. Euro-Dollar closed 35 pips lower on Monday yet remained within the consolidation range between 1.19 and 1.20. The pair fell following poor German Factory Orders, closing below important Fibonacci retracement and extension levels. French banks take a break today in observance of Victory Day.

• GBPUSD – Cable mixed but the day ends with bulls winning the game by 28 pips, pair oversold. Cable was balanced in the Monday session despite banks were closed for May Day as trading volumes were light. Despite a marginal push from bulls, Pound closed only a few pips higher after finding support at the 100% Fibonacci extension. Sterling traders eye the Halifax HPI today.

• USDJPY – Dollar-Yen trades sideways as risk trading fades, BoJ minutes hawkish yet ineffective. Yen showed little movement yesterday despite a hawkish tone followed by BoJ April policy meetings. Price was rejected at 109.40 top and 108.70 bottom, where the 23.6% Fibonacci retracement betides. Markets wait for US speeches and the JOLTS report.

• Oil pierces $70 psychological ahead of API, falls through 161.80% Fibonacci extension. WTI reached a fresh multi-year high on Monday lifted by concerns surrounding sanctions on Iran and Venezuela. Price was rejected at the weighty resistance and fell through below the second extension of the 9.2.18 – 8.3.18 wave. Oil traders look forward to API and EIA reports.

• XAUUSD – Gold remains unchanged following a light session as capital markets cool off. Gold traded rangebound during the start of the week as investors patiently eye the US CPI figures and Trump’s decision on the Iran nuclear deal, expected on May 12. Despite a bullish formation spotted on the charts, the $1318/oz level seems to be the ceiling ahead of substantial volumes.

• US Indexes – DJ closed 0.39% higher, S&P 500 rose by 0.35%%.
• European Indexes – UK 100 appreciated by 0.35%, DE 30 fell by 0.17%.
• Asian Indexes – ASX 200 tilted 0.12% higher, Nikkei 225 rose by 0.18%, Hang Seng trades 1.40% higher.
• US Equities – Amazon appreciated by 1.21%, Tesla rose by 2.95%.