Table of Contents

You may also like:

EUR/USD prints three-day losing streak ahead of German Industrial Production

EUR/USD has erased a major chunk of gains seen in the six days to May 1. German Industrial Production, due at 06:00 GMT, is likely to show record contraction in March. German court’s recent ruling on ECB’s QE has emboldened the bears

EUR/USD capped by strong resistance lines, has room to fall – Confluence Detector

EUR/USD has been under pressure, struggling around 1.08 amid concerns that the European Central Bank will be unable to support struggling countries.

The Technical Confluences Indicator is showing that euro/dollar is capped at 1.0811, which is a dense cluster of lines including the Fibonacci 23.6% one-month, the Simple Moving Average 5-4h, the Bollinger Band 15min-Upper, the Fibonacci 38.2% one-day, the SMA 100-15m, and the previous weekly low.

Further up, significant resistance awaits at 1.0878, which is the convergence of the SMA 200-1h, the BB one-day-Middle, the SMA 50-4h, and the previous weekly low.

Looking down, weak support awaits at 1.0772, which is the confluence of the Pivot Point one-day Support 1, the PP one-month S1, the BB 4h-Lower, and the BB one-day Lower.

The next cushion is somewhat more robust. At 1.0727, the previous monthly low and the PP one-week S2 converge.

According to Trading Central (3rd party RIA) the EURUSD is short positions below 1.0990 with targets at 1.0725 & 1.0630 in extension.

* Past performance is not a guarantee of future performance

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 1.0725
1€ 3,333.33€ 1,666.67€ 694.05
5€ 16,666.67€ 33,333.33€ 3,470.25
10€ 33,333.33€ 66,666.67€ 6,940.50
25€ 83,333.33€ 166,666.67€ 17,351.25
50€ 166,666.67€ 333,333.33€ 34,702.50

Gold falls over 1% as dollar strengthens, lockdowns ease

Gold fell more than 1% on Wednesday, pressured by a stronger dollar and expectations that gold supplies will grow as bullion refineries resume operations, and on gradual improvement in investor risk appetite as countries have begun to ease coronavirus restrictions.

Spot gold slipped 1.2% to $1,685.00 per ounce. U.S. gold futures fell 1.3% to $1,688.30, narrowing its lead over the London spot prices to just around $3.3 after two of the world’s biggest gold refiners said they are restoring almost all operations

“It’s a probably a combination of more supply coming into the COMEX, and probably a little bit less interest as risk appetite is growing and the U.S. dollar rallies,” said Bart Melek, head of commodity strategies at TD Securities.

According to Trading Central (3rd party RIA) the GOLD is short positions below 1698.00 with targets at 1681.00 & 1674.00 in extension.

* Past performance is not a guarantee of future performance

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 1674
0.5€ 2,358.33€ 1,179.17€ 666.67
1€ 4,716.67€ 2,358.33€ 1,333.33
5€ 23,583.33€ 11,791.67€ 6,666.67
10€ 47,166.67€ 23,583.33€ 13,333.33
20€ 94,333.33€ 47,166.67€ 26,666.67


Risk Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.61% of retail investor accounts lose money when trading CFDs with this provider. The above charts and any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here. The information contained in this market review should not be construed in any way, as containing investment advice and/or a suggestion and/or solicitation for any trading activity and financial transaction. The material is for general information purposes only (whether or not it states any opinions). Nothing in this material is (or should be considered to be) legal, financial, investment or other advice on which reliance should be placed. The data contained in this market review is not necessarily real-time nor accurate. The data and prices on the material are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. There is no guarantee and/or prediction of future performance. EuropeFX, its affiliates, agents, directors or employees do not guarantee the accuracy and validity of any information or data made available and assume no liability as to any loss arising from any investment based on the same. Trading Forex/CFD’s carries a high level of risk and can result in the loss of your whole investment. Forex/CFD’s are leveraged products and therefore Forex/CFD’s trading may not be appropriate for all investors. It is recommended that you do not invest more money than you can afford to lose to avoid significant financial problems in the case of losses. Please make sure you define the maximum risk acceptable for yourself. No opinion given in the material constitutes a recommendation by EuropeFX or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. Although the information set out in this marketing communication is obtained from sources believed to be reliable, EuropeFX makes no guarantee as to its accuracy or completeness. All information is indicative and subject to change without notice and may be out of date at any given time. Neither EuropeFX nor the author of this material shall be responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein. Seek independent advice if required.