FBS - Analytics


    558.00 6.00/10
    84% of positive reviews

    Trading plan for May 29

    The US Dollar is trading in the green zone on Thursday despite the higher than expected unemployment claims. The market awaits the US Q1 GDP revision on Friday - according to Reuters forecast, growth will be revised to the downside from 0,2% to -0,8%. In our view, the pessimism is already priced in by the market, but the USD rally could still slow down for some time.

    EUR/USD consolidates around the 1,0900 mark (55-day MA). Intraday resistance is seen at 1,0950. Next support is seen at 1,0810 and 1,0710. Watch the German retail sales, Spanish CPI and private loans in euro zone tomorrow.

    GBP/USD extends the decline, falling below 1,5300. The market was disappointed by the news that the Q1 UK GDP was left unrevised at 0,3%. Next bearish targets are 1,5180 (50% Fibo) and the 1,5100 mark.

    USD/JPY tried to retrace from the multi-year highs, but met buyers around 123,50. As a result, the pair returned back above 124.00/10. Watch the Japanese CPI data tomorrow. National core CPI is expected to have slowed down from 2,2% to 0,2% in April. The news could trigger a new wave of JPY selling. Targets are 125.00 and 126.80/127.10.

    AUD/USD fell to 0,7620 on Thursday as the market was disappointed by the Australia Q1 CapEx contraction by 4,4%. The next bearish target is 0,7550.

    Find more news and analytics on FX BAZOOKA

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree