Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Trading plan for May 21

Published 05/20/2015, 01:24 PM
Updated 10/19/2022, 07:05 AM

The US dollar extends recovery for a third day in a row. On Thursday, we’ll watch the US unemployment claims and the Philly Fed manufacturing index (forecast – rise to 8,3).
EUR/USD tested 1.1060 on Wednesday, falling below the 100-day MA at 1.1160. Fix below 1.1060/50 would open the way for a decline to 1.0700. Greek problems remain a bearish factor for the euro. Watch the European PMI indices on Thursday – activity is expected to decline a little. Later in the day, the ECB will release its April meeting minutes.
GBP/USD is trying to recover back above 1.5500, supported by the BOE meeting minutes release. The next targets are seen at 1.5570 and 1.5600. Watch the UK retail sales on Thursday (forecast: +0,4%).
AUD/USD remains under pressure for a 5th day in a row and fell below 0.7900. The trend line support was broken to the downside. Next target is seen at 0.7790. NZD/USD is testing the important support at 0.7320. Fix below will open the way to 0.7175. Watch the Chinese HSBC manufacturing PMI tonight (forecast: 49,4).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.