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May 3, 2018

FXPRIMUS, Daily Report: Markets getting prepared for High Volatility

Market is getting trade for a strong end of the week.

This article is originally referred from FXPrimus News.

FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

Dollar tilted marginally higher yesterday on signs of a stronger US economy and but major pairs like EUR, and GBP, are still holding something back Gold is trying to recover from early losses of the week, while Oil is gaining upon news that the US now produces more than all its competitors.

Market participants will focus on UK Service PMI, and USD Non-Manufacturing PMI.

Today’s Forecast for Important Trading Indicators

  • BTC/USD – Bitcoin stable and rising. The price of Bitcoin is on an uptrend in May, Slow but steady the price is doing small corrections and continuing the upward trend. With the news coming from Goldman Sachs that they will be offering BTC futures, the price might continue its steady increase.
BTC/USD 15-MINUTES CHART

MARKET MOVERS

  • EUR/USD – Is the five-month low of the pair enough, or could it go lower? The pair traded yesterday for some time below the $1.20 mark, but early reports mention that it can fall even lower than that. With NFP coming up tomorrow it could be an early indication as to where the pair is willing to move in the month of May.
EURUSD HOURLY CHART
  • GBP/USD – Despite struggling, the pound is still holding on. After the pair fell even below the $1.36 mark yesterday, it started gaining back and climbing again over the mark of $1.36. Signs show that even the services PMI, won’t be enough to put the pair back on track but it might gain something back of the 800 pips drop it sustained over the past two weeks.
GBPUSD 30-MINUTE CHART
  • USD/JPY – Can the USD/JPY pair, trade constantly over 110.00 marks? The pair after yesterday’s fed announcement fell despite surprising the 110 mark. After losing some ground, it started gaining the momentum back, and it is a matter of time before we eventually see the pair taking a direction, which by all indicators it will be a bullish one.
USD/JPY 30-MINUTE CHART
  • USOIL –Oil prices are trying to reach yearly highs. Following up yesterday’s news on Crude Oil, the price has gained a dollar, trading now over $68. It is quite possible that soon after news that the US, is now producing more barrels per day, than Saudi Arabia, that we will see the price of Oil hitting yearly highs.
OIL HOURLY CHART
  • XAU/USD – Gold trying to stabilise. Gold is trying to settle, despite a bearish start of the week which saw it lose ground. After some unstable trading days with fluctuations in the price, the gold today is trading quietly trying to stabilise. No news today can really affect the movement on it, until tomorrows NFP
XAU/USD 30-MINUTE CHART
  • US Indexes – DJ closed 0.72% lower, S&P 500 fell by 0.72%
  • European Indexes – UK 100 trades 0.01% lower, DE 30 0.18% lower
  • Asian Indexes – ASX 200 appreciated by 0.80%, Nikkei 225 lost 0.16%, Hang Seng trades 1.43% higher
  • US Equities – Tesla soared by 0.41%, Facebook gained by 1.27%

Original Source: FXPrimus News

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