An Overview of Forex Signals for May 30 – Rayrice Forex News

An Overview of Forex Signals for May 30

Last week Market Pack

Last week we saw the first controversy over economic reports that many economists feared. The central bank, led by the Bank of England, has been raising interest rates since December, following five consecutive tariffs. But they have not been able to stop inflation, CPI inflation in the UK has reached 9.1%, and the services PMI has posted a sharp slowdown, indicating a possible fall.

Inflation and central bank congestion are putting consumers in a difficult position. Retail sales showed a decline in New Zealand in Q1 this year, reinforcing the idea since the RBNZ began its first trip to the central bank last October. The US dollar continued to depreciate for the second week in a row, sending shockwaves through the second half of the week.

This week’s data agenda

We have Chinese and US production reports this week. China’s manufacturing activity is expected to improve but will remain under contract because of the effects of locks. Gross domestic product reports from Canada and Australia are expected to show a slowdown, but we can see a contraction in the US during Q1. Bank of Canada is expected to offer another price increase on Wednesday, at 50 bps.

As the US dollar continued to depreciate last week and we stayed short against the dollar, we continued our positive trend in the first half of the week. By the end of the week, however, the forks market was uncertain, which resulted in some whips in most major pairs.

USD / JPY – Sell signal

USD / JPY has been bullish for two years but has picked up incredible momentum over the past two months with more than 131. We decided to shorten this pair and later sell the final resistance for the 20 SMA.

USD / JPY – 240 minute chart

Euro / GBP – Buy a signal

The euro / GBP changed sharply last week, when the euro began to appreciate more than the GBP, but eventually, the buying pressure eased and these pairs were slowly declining. We decided to open a sale mark after the price of the Dodge Candle on the H1 chart served as a support for the 50 SMA (yellow) for some time. We saw that average movement move and the price was close to our TP target, but these pairs suddenly reversed, even though the 200 SMA (purple) was held as support.

S & p500 – Daily chart

Crypto Currency Update

Crypto currencies have rebounded sharply earlier this month, but have been consolidating in the tight zone over the past 2-3 weeks. We saw a slight drop in the BTC, but the price quickly rebounded to the region, indicating that both parties were unsure and unwilling to move in any direction at this time.

Testing Bitcoin’s bottom line

Bitcoin It continued to depreciate by less than $ 30,000 earlier this month, although the decline has stopped and prices are rising between $ 28,500 and $ 31,000. The sellers’ tradition of supporting the lower class, however, was nowhere near below. Although the price has been stuck for a long time, it indicates a sales pressure.

The support continues.

Will the last summer low stop for the USD?

Until the middle of January, Fantum Crypto was under strong bullish pressure, hitting its previous high of $ 3.50. But in the end, the negative sentiment in the crypto market and the Wonderland controversy have dragged this secret down.

Then the two most famous people left the Fantam team and, like Andre Cronje, a talented developer and senior solution architect, Anthony Nell, weighed in at FTM / USD and sent it first for less than $ 1 and then $ 0.25. Although Kronje may return to Fantom after some rumors, this is great news for FMT. The 20-day SMA (Gray) declined on Monday, but we are seeing support at around $ 0.15 last summer.

FTM / USD – Daily chart

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