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Technical Analysis:Your Daily Dose of Market Insights, May 4, 2023

Asian stocks and US futures edged higher as investors brushed aside the Federal Reserve’s commentary against interest-rate cuts and looked ahead to an eventual pivot to policy easing. Contracts for the S&P 500 and the Nasdaq 100 were moderately higher after a drop on Wednesday, when the turmoil in US regional banks added to market volatility. Gold hits all time high.

  • Fed raises US interest rates to highest in 16 years read on

  • Dollar falls after Fed signals pause; banking woes dent confidence read on

  • ECB to raise interest rates for a seventh time in inflation fight read on

  • Stock markets nervous about Fed pivot and banking sector read on

  • Gold firms after Fed signals pause to rate hikes read more

  • Oil prices recover after three-day plunge; demand worries linger read more

Key events today.

  • US initial jobless claims, trade balance.

  • European Central Bank rate decision, followed by ECB President Christine Lagarde’s news conference.

“Intraday forex trading signals". 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.

 

Dollar Index (ICE)‎ intraday:

Pivot: 101.44


Dollar index, DXY 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.

Gold Intraday:


Pivot:


Gold 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.

USD/JPY Intraday:

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.

AUD/USD Intraday:

Pivot: 0.6675


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.

oil wells pumping oil sun red back ground

Crude Oil (WTI)‎ West Texas Intermediate: :


Pivot: 68.73


WTI crude oil 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.

USD/CAD Intraday:

Pivot: 1.3613


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.

EUR/USD Intraday:

Pivot: 1.105

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.

GBP/USD Intraday:

Pivot: 1.254

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.

Nasdaq 100 Intraday:


Pivot:

13,095.99

.

Nasdaq 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.

Our website offers information about investing, trading and saving, but not personal advice. If you're not sure which investments are right for you, please request advice, for example from your financial advisers. If you decide to invest or trade, remember that investments can go up and down in value, so you could get back less than you put in. ©2023 by Chump Profit.

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