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XAUUSD, 1-hour timeframe chart XAUUSD formed a bearish Doji pattern 👉Level explanation XAUUSD has been trading in a bullish trend within the last day. The pair moved up to the resistance level of 2,340.00. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 2,337.32. Set your stop loss at 2,354.57 above the previous high ($17.25 loss for 0.01 lot) and take profit at 2,319.75 ($17.57 profit for 0.01 lot). The risk-reward ratio for this order is 1:1.02. The upcoming news will not influence your orders within the mentioned period. Some traders may close their positions on Friday, which can add more pressure to the market. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

EURUSD, 15-minute timeframe chart EURUSD broke the resistance level of 1.08430 👉 Level explanation EURUSD has been trading in a bullish trend for the last couple of hours. 👉 Possible scenario The best way to use this opportunity is to place a Buy order at 1.08495. Set your stop loss at 1.08350 below the previous low ($1.45 loss for 0.01 lot) and take profit at 1.08640 ($1.45 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period. Some traders may close their positions on Friday, which can add more pressure to the market. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

AUDUSD, 1-hour timeframe chart AUDUSD formed a bullish Hammer pattern 👉 General outlook AUDUSD has been trading in a bullish trend for the last couple of hours. The pair moved up to the resistance level of 0.66200. Now, the price displays a bullish Hammer pattern. 👉 Possible scenario The best way to use this opportunity is to place a Buy order at 0.66122. Set your stop loss at 0.66344 below the previous low ($2.22 loss for 0.01 lot) and take profit at 0.65899 ($2.22 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. 📝Fundamental factors The U.S. Durable Goods Orders report will be released in a few minutes and could affect this trade. Some traders may close their positions on Friday, which can add more pressure to the market. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

GBPUSD, 15-minute timeframe chart GBPUSD formed a bullish Doji pattern 👉 General outlook GBPUSD has been trading in a bullish trend for the last couple of hours. The pair moved down to the support level of 1.27140. Now, the price displays a bullish Doji pattern. 👉 Possible scenario The best way to use this opportunity is to place a Buy order at 1.27155. Set your stop loss at 1.26920 below the previous low ($2.35 loss for 0.01 lot) and take profit at 1.27390 ($2.35 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. 📝 Fundamental factors The U.S. Durable Goods Orders report will be released in a few minutes and could affect this trade. Some traders may close their positions on Friday, which can add more pressure to the market. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

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📉 Gold lost 2% in a day due to better-than-expected U.S. data Yesterday, gold (XAU) fell towards 2,328, marking a two-week low. Overall, XAUUSD lost 2.10% over the day. 👉 Possible effects for traders The main reason for the drop is that investors are increasingly doubtful about a rate cut by the U.S. Federal Reserve (Fed) in September following the latest stronger-than-expected U.S. economic releases. For example, yesterday's S&P Composite Purchasing Managers' Index (PMI) report showed that business activity was accelerating in May. Meanwhile, the number of Americans applying for unemployment benefits was lower than expected, indicating a stronger labour market. The strong economic data and discussion by some U.S. officials about raising interest rates further strengthened the U.S. dollar significantly. According to the CME FedWatch tool, traders are now increasingly sceptical that the Fed will lower rates more than once in 2024. However, some remain optimistic about XAUUSD's outlook. FX Empire analyst Christopher Lewis says the precious metal market remains bullish even though the market has 'sold off gold rather drastically' in the last few days. 'The market continues to enjoy central bank buying with it coming out and supporting it,' he added. Investors still want to diversify their portfolios with precious metals, and Lewis says he doesn't see the trend changing in the short term. 'So gold should continue to appreciate in value,' Lewis stated. Gold rose today in the early Asian trading session. After yesterday's sharp drop, XAUUSD may correct upwards and rise towards 2,350. If the price breaks below the two-week low, it could fall further to 2,300. Two U.S. reports could affect the gold price today: Durable Goods Orders at 12:30 p.m. UTC and Consumer Sentiment at 2:00 p.m. UTC. Better-than-expected numbers will further decrease chances for a rate cut by the Fed this year, putting downward pressure on precious metals. Otherwise, gold may continue its upward trend. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

🔽 EURUSD continues to fall on better-than-expected U.S. data The euro (EUR) lost 0.07% during a rather volatile trading session on Thursday after better-than-expected U.S. Purchasing Managers' Index (PMI) reports pushed the U.S. dollar (USD) higher. 👉 Possible effects for traders Although eurozone PMI figures were higher than expected, business activity in the manufacturing sector remained weak. Meanwhile, the U.S. PMI numbers rose to the highest level in over two years in May. Manufacturers reported a surge in prices for a range of inputs, suggesting that inflation could pick up in the months ahead. The market immediately reacted by lowering the probability of an interest rate cut by the Federal Reserve (Fed) in September, strengthening the U.S. dollar. At the same time, the European Central Bank (ECB) is still widely expected to cut its base rate in June, meaning that the interest rate differential between the eurozone and the U.S. will expand, further supporting the greenback. 'The currency action shows the market still responds to strong U.S. economic data in the expected way. I think the U.S. dollar has some more room on the upside. The market is still exaggerating the chances of two rate cuts this year,' said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC. EURUSD was falling during the Asian and early European trading sessions. The pair has been declining for five consecutive days. Thus, the bullish trend, which started in mid-April, is now at risk of breaking. Today, more U.S. data will be released. Traders should focus on two reports: the U.S. Durable Goods Orders at 12:30 p.m. UTC and the Consumer Sentiment at 2:00 p.m. UTC. Higher-than-expected figures will weaken EURUSD further, potentially pushing the exchange rate below the critically important 1.07950 level. Conversely, lower-than-expected results may pause the short-term bearish trend and trigger an upward correction, possibly above 1.08200. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

💸 Bitcoin drops by 1.72% amid profit-taking Bitcoin dropped by 1.72% on Thursday as the Securities and Exchange Commission (SEC) approved eight spot Ethereum exchange-traded-funds (ETFs). 👉 Possible effects for traders Spot Ether ETFs received approval for their 19b-4 filings today, enabling them to be listed on their respective exchanges. However, applicants must first obtain approved S-1 registration statements before they can start trading. Bloomberg ETF analyst James Seyffart mentioned that S-1 approvals could come in a couple of weeks but also noted that the process could take longer, as it typically takes up to five months. The correction in BTCUSD was likely caused by profit-taking following the approval of the ETH ETF. This news had already been priced in earlier, and now participants are beginning to lock in their profits. The trigger for the correction was the release of better-than-expected U.S. Purchasing Managers' Index (PMI) reports, which pushed the U.S. dollar higher. Moreover, Bitcoin mining difficulty has increased by nearly 2%, reaching over 84.4 trillion, as the network's average hash rate surged past 600 exa-hashes per second. Bitcoin mining difficulty indicates how challenging it is to find a hash below a specified target. This rise coincides with growing optimism in the crypto market, driven by speculation about the approval of spot Ethereum ETFs. Despite a minor 2% dip in BTCUSD over the last 24 hours, Bitcoin's price continues to be in a weekly uptrend. BTCUSD fell during the early European trading session. A crypto analyst known as BitQuant shared insights on the social media platform X, predicting significant growth for Bitcoin. BitQuant expects Bitcoin to reach 95,000, with a notable increase to 80,000 anticipated in May. However, BitQuant also forecasts a sharp decline from this local peak in June. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH

BTCUSD, 30-minute timeframe chart BTCUSD formed a bullish Engulfing pattern 👉 General outlook BTCUSD has been trading in a sideways market for the last couple of hours. The pair moved down to the support level of 66,800.00. Now, the price displays a bullish Engulfing pattern. 👉 Possible scenario The best way to use this opportunity is to place a Buy order at 67,272.73. Set your stop loss at 66,128.53 below the previous low ($11.44 loss for 0.01 lot) and take profit at 68,416.93 ($11.44 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. Some traders may close their positions on Friday, which can add more pressure to the market. 📲 More trading opportunities in our app If the link doesn’t work, try a special one for your country: 🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH