What to trade on May 9-13?

What to trade on May 9-13?

2022-12-16 • Updated

It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!

Trade ideas


Last week was full of impactful events on the Forex market. First and foremost, the Federal Reserve raised the interest rate by 50 basis points. The Fed indicated that despite its readiness to keep hiking rates this year, it’s not going to make an extraordinary big increase. This news pushed the major currencies higher versus the US dollar. Both EURUSD and GBPUSD tested the upper borders of their consolidation ranges. At the end of the week, the Bank of England’s meeting and the US nonfarm payrolls added to volatility. AUDUSD also enjoyed the week on the bigger-than-expected (to 0.35% vs the forecast of 0.25%) rate hike by the Reserve Bank of Australia. We await the releases of US CPI and PPI to be the highlights of the next week.

Oil & Gold

The potential embargo of Russian supplies pushed the oil prices higher last week. XTIUSD left the triangle on the daily chart and tested the $107 level. XBRUSD rose to $110. The next resistance levels lie at $115 for WTI and $118 for Brent.

Gold jumped closer to the resistance zone at $1900-$1910 after the Fed interest rate decision. This week, it has the potential to strengthen towards the resistance at $1950. On the downside, $1850 and $1805 represent strong support levels.


The stock market indices anticipate huge volatility after the inflation releases. Despite the rise of both S&P500 and Nasdaq after the Fed statement, it can be short-lived. As the level of inflation determines further steps by the Fed, a considerable rise will indicate tighter decisions by the bank. Thus, stock indices will plunge. In addition, look at the Netflix stock, as its shareholders filed a lawsuit against the company. The stock is already oversold, so it may start rising this week. The first resistance lies at $270.



Can the Chinese Economy Recover?
Can the Chinese Economy Recover?

Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.

Can the CPI Release Reverse The USD? 
Can the CPI Release Reverse The USD? 

The upcoming August inflation data may send mixed signals. The 12-month headline inflation rate is expected to rise to 3.6%, causing concerns for the Biden administration. However, core inflation, which excludes food and energy prices, is projected to decrease to 4.3%, aligning with the Federal Reserve's goals. Past price trends influence both figures, so looking at recent data for a more accurate picture is crucial.

Will the NFP help the greenback?
Will the NFP help the greenback?

The odds of a final interest rate hike by the US Federal Reserve (Fed) this year have dropped after US job openings hit their lowest levels since early 2021. This has led to a correction in the US Dollar as traders reduced their bets on further rate hikes.

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