May 11 2021 0

DXY continued to decline sharply and reached the lowest price in more than 2 months.

Latest updates:

  • The US dollar slid in a row and is now close to the lowest level in the first session of the week. The disappointing US Nonfarm Payrolls (NFP) report led investors to flee their long positions to buy the greenback.
    Last month, the US only created more than a quarter of the jobs forecasted by economists, the unemployment rate was suddenly higher, raising fears that the Fed would consider pushing back a deadline. monetary policy.
    The etheric cryptocurrency surpassed $4,000 on Monday, climbing to new highs for the third straight session as the market is betting that the Cryptocurrency could have a new use, leading to an increase. of other digital currencies.
    Investor sentiment in the eurozone rose in May to its highest level since March 2018 due to positive expectations and assessment of the current situation.
    Leaders of G7 countries said they could invest $1 trillion a year until 2030 to ensure a strong and sustainable economic recovery.

USD/JPY

USD/JPY May 11

Prices did not fluctuate much in the past session, not yet made noticeable changes. Our current strategy is still to buy around 108.5, however, without clear trigger signals, you should only consider on tentative orders, or continue waiting patiently.

EUR/USD

EUR/USD May 11

The price has not been able to clear above the 1.215 zone, showing that the buyers are not completely overwhelmed in the breakout situation to create a new peak recently. The up structure is still guaranteed, but you should wait for the opportunity to buy in around 1.21 when there are bullish signals, avoid entering too early.

GBP/USD

GBP/USD May 11

The price has approached the target area of ​​1.415, you should consider taking profit on previous buy orders, or moving SL to reduce risk. The next target is the year's peak, around 1.425. In case the price retraces to around 1.405, you might consider adding a buy order if there is a bullish signal.

USD/CAD

USD/CAD May 11

The price is showing signs of breaking the support zone of 1.210, however, the market is in oversold condition, corrections may happen suddenly, you should not add sell orders at this time. Wait for the opportunity in the above price zones for better entry points.

AUD/USD

AUD/USD May 11

Price has approached the target of 0.79 then retreated sharply, hoping the brothers can escape as recommended. The price is still in the bullish channel, but the current correction is quite strong, the point to buy is reasonable and less risky than around 0.775 instead of 0.78, we will wait for signals to trigger in this zone.

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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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