May 14 2021 0

DXY has leveled off its upward momentum. This price action causes the currency pairs to also be in accumulation. Let's get prepared for the weekends.

Latest updates:

  • Last week's US unemployment data was slightly better than expected (473k vs 490k).
  • US consumer prices in April posted their biggest gain in nearly 12 years, sparking "risk-aversion" moves in global markets, with equities and risk currencies falling. strong while US Treasury yields increased.
  • Fed Vice Chairman Richard Clarida said on Wednesday that weak job growth and strong inflation in April did not change the Fed's plan to maintain loose monetary policy.
  • Bitcoin fell 17% overnight after Elon Musk said in a tweet that Tesla will no longer accept crypto to buy cars.

USD/JPY

USD/JPY May 14

The price continued to accumulate around the 109.6 resistance area without seeing a strong price rejection, this accumulation area took the form of a bullish flag pattern. You continue to follow this pattern, in case it completes and breaks this 109.6 price zone, you can consider buying to 110.8.

EUR/USD

EUR/USD May 14

The price was less volatile in the last session, stuck in the 1.205-210 price range. The spinning top has also formed on the daily frame, at least this is a supportive signal for our buy orders. You continue to hold the order, put the SL below the level of 1.205, if it is broken, temporarily stop buying.

GBP/USD

GBP/USD May 14

The price has approached the 1.40 conversion price zone as expected, but the bullish signals are not really convincing, therefore, you should only consider exploratory buy orders, not yet enter orders with target volume. standard. It is not excluded that the price will correct to the lower boundary of the rising channel, which is a less risky buy point.

USD/CAD

USD/CAD May 14

After the bullish signal mentioned in the previous session, the price has started to correct up, although now the bearish signal has reappeared, the possibility of returning to the downtrend at the present time is not high. Reversal traders continue to hold previous buy orders, move the SL to reduce risk, those who follow the downtrend should continue to wait and focus on the area of ​​1.227.

AUD/USD

AUD/USD May 14

The downtrend on AUD/USD chart has slowed down, the price has also created a daily swing pattern, we can enter buy orders to explore, next session, if we see this swing pattern is confirmed (the closing price of the next session). weekend above the pattern high) a full position can be replenished. The RR level is relatively good.

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Fanara Filippo

Hey, I’m Fanara Filippo. I’m the founder of this site. I'm currently living in Bangkok, Thailand. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Let’s review brokers today.

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