empty
06.05.2020 05:11 AM
Hot forecast and trading signals for the EUR/USD pair on May 6

EUR/USD 1H

This image is no longer relevant

The picture is now as follows in the hourly time frame. First, the euro/dollar pair overcame a fairly long-term upward trend line, which indicates a change in the downward trend. Secondly, the pair's quotes are pinned below the support level of 1.0854 and below the support area of 1.0880 – 1.0895 (highlighted with a red rectangle), from which they have repeatedly rebounded. Thus, two strong obstacles remain on the upward track: the Senkou span B line for the 4-hour timeframe and the upward trend line, which began its existence from the March 20 low.

As we have already said in recent fundamental reviews, market participants are ignoring the entire macroeconomic background. We do not claim that traders have not worked out any report for the last two or three months. However, we would like to state that there has not been any development in the usual sense of the word, that is, when an important report is released and the mood of traders changes in accordance with its meaning and trades are conducted in the direction of the report's nature, for a long time. Several indices of business activity in the US and the European Union were published in the first two trading days of the week, but even their fall to record-low values did not surprise traders at all. The coronavirus is still the number one topic for the whole world. At the same time, close calculations of those infected in a particular country have already stopped. Many countries are beginning to relax their quarantine measures. And the number one question for the coming weeks: will there be a new COVID-2019 outbreak in one of the countries that are easing the quarantine? For example, according to opinion polls in the United States, the majority of Americans do not approve of Donald Trump's initiatives to "open" the economy. Despite the previous rallies "for the abolition of quarantine". Americans value their health and are afraid of coronavirus, so they do not want to complete self-isolation in the midst of an epidemic. The number one pressing issue now is the China-US standoff, as Washington may start putting pressure on Beijing in the near future. The demand for the US dollar could increase as the geopolitical situation in the world turns more intense. However, we still believe that technical factors should remain in the first place now.

Based on the foregoing, we have two trading ideas for May 6:

1) In the coming hours, the downward movement may continue with the immediate goal of the Senkou Span B line - 1.0811. Thus, those traders who are already in sales can hold them for this purpose. Further, the US dollar still has the potential to grow. If traders overcome the Senkou Span B line, then the downward movement can continue with the goal of an upward trend line, which lies slightly above the support level of 1.0754. The potential to Take Profit in these cases is 30 and 70 points. A retreat to the resistance area of 1.0880 - 1.0895 is not excluded, with a rebound from which you can short the pair again.

2) the second option - bullish - involves overcoming the resistance area of 1.0880-1.0895. In this case, it will become an upward trend in the short term, and we advise you to buy the euro while aiming for the Kijun-sen line-1.0921 and the April 19 high of 1.0990. Potential Take Profit in this scenario can be 20 and 90 points.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Pronóstico urgente del par EUR/USD para el 19.11.2024

A juzgar por el modesto crecimiento del euro, existe la sensación de que el dólar aún no ha agotado todo su potencial de crecimiento, a pesar de la increíble sobrecompra

Dean Leo 07:29 2024-11-19 UTC+2

Previsión de última hora del par EUR/USD para el 26.08.2024

El euro se fortaleció frente al dólar estadounidense en casi un 1,5% durante la semana pasada, acercando la cotización al máximo local de la tendencia alcista. El instrumento técnico

Dean Leo 07:44 2024-08-26 UTC+2

Pronóstico urgente del EUR/USD para el 01.07.2024

Ya cerca del cierre de las operaciones del viernes, el dólar comenzó a perder posiciones. Y con la apertura de la sesión asiática de hoy esta tendencia continuó. De hecho

Dean Leo 08:18 2024-07-01 UTC+2

Zonas de Margen e Ideas de Trading para los pares AUD/USD, NZD/USD, USD/CAD (24.06.2024)

AUD /USD Tendencia a largo plazo: incertidumbre temporal. La máxima acumulación de volúmenes del contrato actual se encuentra en el rango, en las cotizaciones 0,66070-0,66210. En este momento

09:13 2024-06-24 UTC+2

Pronóstico urgente para EUR/USD del 24.06.2024

Se esperaba que los índices de actividad empresarial de la eurozona aumentaran ligeramente, mientras que en Estados Unidos disminuirían ligeramente. Pero no fue así. En Europa disminuyeron, y de forma

Dean Leo 09:04 2024-06-24 UTC+2

Pronóstico para EUR/USD el 20 de noviembre de 2023

No ocurrió mucho al principio, pero el dólar comenzó a perder terreno activamente cuando se abrió la sesión de operaciones en los Estados Unidos. Esto se debió a una serie

Dean Leo 14:16 2023-11-20 UTC+2

Pronóstico candente para GBP/USD el 2 de noviembre de 2023

La Reserva Federal, por ahora, ha sugerido que las subidas de tasas podrían mantenerse en espera durante el resto del año, y esto fue suficiente para impulsar el fuerte crecimiento

Dean Leo 09:09 2023-11-02 UTC+2

USD/JPY extiende su crecimiento como se esperaba

El par USD/JPY subió como se esperaba. He hablado de este escenario en el análisis de ayer. El fuerte crecimiento de DXY y la caída de los futuros

Ralph Shedler 15:25 2023-03-08 UTC+2

Pronóstico actualizado para el GBP/USD el 23/01/2023

La moneda británica siguió subiendo incluso después de que el Reino Unido informara que, en términos anuales, las ventas minoristas generales cayeron un 5,8 %, luego de una caída

Dean Leo 09:20 2023-01-23 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.