May 26 2021 0
The dollar hit a four-and-a-half-month low against major currencies on Tuesday on weaker-than-expected US economic data and the Fed's consistency on its loose monetary policy. , assuage concerns about monetary tightening when inflation is high. Investors are selling USD a lot with the belief that low US interest rates will cause money to flow abroad when the world economy recovers. The German economy shrank more than expected in the first quarter, down 1.8% quarter-on-quarter and 3.1% year-on-year. Bitcoin has the momentum to recover, none other than Elon Musk, who tweeted about his meeting with North American Bitcoin miners about “sustainability initiatives”, suggesting that some recent concerns (about Bitcoin mining energy costs) may be being worked out.
USD/JPY
The price is still stuck around the lower boundary of the range, but the volatility has increased, another notable point is that on the daily frame, a doji candlestick pattern has formed, you need to pay attention to this pattern. You can continue to expect the price to recover and keep the buy orders, the SL is located below the 108.5 zone.
EUR/USD
The old peak around 1.225 is showing signs of being breached, however, the breakout force is quite weak and lacks clarity, so buy orders now face quite a bit of risk. You should just spread probe orders, wait for more confirmation of the breakout, the initial target is around 1.235.
GBP/USD
Price is once again rejected around the 1.420-23 zone, this price action is gradually forming a triple top pattern, the breakout point of which will be the 1.410 level. We need to pay attention to this pattern, if it is confirmed successfully, the price can correct to the 1.40 zone, the buyers can find an opportunity to enter orders around this 1.40 zone, but at present, they should not enter new orders. price is having a hard time making new highs.
USD/CAD
USDCAD volatility was very low in the last session and was generally unchanged. We keep our old opinion, expect the price to correct up from this 1.20 support zone. The previous buy orders (of short-term reversal brethren) can continue to hold, SL below 1.20. For those who trade in the main downtrend, it is necessary to see the daily candle penetrate the 1.20 level before deciding to continue selling.
AUD/USD
AUDUSD is really lacking a momentum to break out, the price is still fluctuating around the lower boundary of the uptrend channel. Even so, the bullish structure still exists so you can still keep your buy orders if there is any, the SL is below 0.77 level, however if it is broken, we will temporarily abandon the buying strategy.
