Focusing on the May 24 Forex Signs of the Week – Rayrice Forex News

Focusing on the May 24 Forex Signs of the Week

Last week Market Pack

Last week we saw a reversal in the strength of the US dollar as Ricks’ currencies and stocks fluctuated. That market trend continued yesterday and the US dollar depreciated, and the US dollar continued to depreciate as risks and currencies increased recently. Sky News reports that Russia is studying Italy’s peace plan with Ukraine.

Germany’s Efo trade climate improves over European period Belgian trade confidence weakens. Yesterday, the main event was a comment from ECB Christine Lagarde on interest rates in July stating that there will be no negative rates anymore. This means a 50 BPS hike in July, which further improved the mood.

Today’s information agenda

Today is about manufacturing, but the market is winning again, so we need to focus more on that. Today began retail sales from New Zealand in Q1 during the Asian session, followed by Australian manufacturing and services.

Manufacturing has slowed down in China, and high prices for raw materials are putting pressure on Western producers, so manufacturing numbers are paying more attention now. Euro zone, UK and US manufacturing reports will be released later today, which we will cover in our economic calendar.

In the middle of last week, the USD turned bearish and we had some problems with our signals. Although we adjusted our strategy, we closed the week at a profit and continued to make good profit yesterday with four wins.

Gold – Buy a signal

Earlier this month, the US dollar continued to gain momentum, but the dollar rose sharply last week. As a result, gold is traded mostly for dollars, not as a safe haven. Yesterday the price moved back to the 50 SMA (yellow) H1 chart and opened the buy signal after raising that average.

Gold XAU-Daily Chart

Euro / dollar – Buy a signal

The EUR / USD has been very weak in recent months, but as we move to 3.50 cents we are seeing a strong bullish trend, but market sentiment has improved.

We are tired of this pair but last week we turned to bullying and decided to buy contrary to the moving averages. Yesterday, after a slight reversal, we opened another buy signal which hit its profit target in a short time.

Euro / Dollar – 15 minute chart

Crypto Currency Update

Crypto currencies have been weak in recent weeks, but over the past two weeks the crypto market has strengthened and traded sideways. Bitcoin Ethereum strengthened to $ 2,000 a week, trading at about $ 30,000 a week. Neither sellers nor buyers have the courage to take matters into their own hands, so we are looking at them now.

Buy Thorchain RUNE around here?

The Thorchain token RUNE has been hovering above $ 20 since May last year, reaching its second high of $ 17.60 in November last year. The third highest came after recent Thorchain upgrades, which sent RUNE / USD above $ 13.

We missed that great opportunity, especially after falling below $ 3, even though the price is now back above that level of support. So, we are considering buying this cryptocurrency. Trading view chart

A place about $ 3 is a good place to buy Thorchain RUNE.

ADA / USD Still trading below 50 SMA

Cardano has been declining since September last year and then in November the sentiment in the crypto market turned negative and the downturn accelerated. Although the initial resistance remained at $ 0.40 last week, moving averages have turned into protests.

Now the price is falling again, so let’s see if this support lasts. If so, then we can go a long way toward Cardano.

ADA / USD – Daily chart

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