First National Innovation Brokers Forex Daily forecast May 2nd

Trading Discussion Currencies
1

EURUSD

The EURUSD continued its bullish momentum yesterday topped at 1.3184. The bias remains bullish in nearest term testing 1.3200/50. A clear break and daily close above that area could trigger further bullish pressure testing 1.3320. Immediate support is seen around 1.3150/30. A clear break below that area could lead price to neutral zone in nearest term testing 1.3050/60 but as long as stays above 1.3000 and EMA 200 (red) price is still in a bullish phase. My major technical outlook remains neutral.


GBPUSD

The GBPUSD regained its bullish momentum yesterday topped at 1.5567. The bias is bullish in nearest term testing 1.5600 area. Immediate support is seen around 1.5525. A clear break below that area could lead price to neutral zone in nearest term testing 1.5470/50 but as long as stays above 1.5200 price is still in a bullish correction phase.


USDCHF

The USDCHF continued its bearish momentum yesterday bottomed at 0.9277. The bias remains bearish in nearest term testing 0.9250/00 area. Immediate resistance is seen around 0.9315. A clear break above that area could lead price to neutral zone in nearest term testing 0.9350/70. My major technical outlook remains neutral.


USDJPY

The USDJPY continued its bearish correction yesterday and hit 97.04 earlier today. The bias remains bearish in nearest term challenging 96.70. A clear break and daily/weekly close below that area could trigger further bearish correction. Immediate resistance is seen around 97.65. A clear break above that area could lead price to neutral zone in nearest term testing 98.00/30 which needs to be clearly broken to the upside to interrupt the current bearish correction phase.


2

Hello,

What importance should be given to the weekly triangle on the Gbp / Usd?

Gether output then a pullback and then take a position plausible strategy?

3

Patience is rewarded again … which treats the downward trends!

13 short, the same pyramid on the books, I still speculative long OC which was triggered a 1.2970 stop 15 pips you never know if it’s a rebound pti ticket to do more

The support area has many broken back until 1.30 is possible before a resumption of the decline we will have to follow the Asian session to see if it drives the point home!

4

Hi pipthom, Thank you very much for sharing the currency curve and there brief description. It helps me to understand about the better position.

5

Hello!
I’m starting to love this pair! Especially when I shorte!
Short in 1302, reinforcing 1.2925! I await the break of 1.28!
As Khali, I want to stop Goldman Sachs! Maybe next week!