Happy labor day, traders! Today, some markets may experience lower liquidity because of national holidays in many countries. Here’s what you shall expect this week:
(All times are in GMT+3 time zone)
This week is one of the most important weeks ahead. FOMC statement will define how the markets will move in May, and US NFP will surely add fuel to the fire. Moreover, here’s what drives the market today.
The metal broke through the support trendline and reached $1978. We still wait for it to plunge deeper and touch the order block.
The lower yellow area represents the demand zone. Thus, XAUUSD will likely bounce from it and rise to the supply area at around $2003-2015.
Note that it's way safer to wait for the main economic releases of the week (FOMC Statement) and open your trades after. Otherwise, your trade might be closed by a fake movement.
May this week bring you excellent results!
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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