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CEO of Tesla, Elon Musk, is ready to start accepting Dogecoin as a car payment

20:10 2021-05-11 UTC--4 Relevance up to 13:00 2021-05-16 UTC--4

Author: Vitaly Kolesnikov

Popular analitics

EUR/USD and GBP/USD: Euro and pound froze in anticipation of serious reports on US inflation and UK GDP

13:40 2021-05-11 UTC--4

Analytics and trading signals for beginners. How to trade GBP/USD on May 12? Analysis of Tuesday. Getting ready for Wednesday

14:04 2021-05-11 UTC--4

Analysis of GBP/USD on May 11, 2021. Boris Johnson under investigation over Caribbean holiday

14:24 2021-05-11 UTC--4

Analysis of EUR/USD on May 11, 2021. Investor sentiment in the European Union improved in May

14:05 2021-05-11 UTC--4

May 11, 2021 : EUR/USD Intraday technical analysis and trade recommendations.

13:23 2021-05-11 UTC--4

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Hot topic: Coronavirus (COVID-19)

Crypto-currencies Relevance up to 13:00 2021-05-16 UTC--4

CEO of Tesla, Elon Musk, is ready to start accepting Dogecoin as a car payment

Elon Musk is giving his best to return the growth and bullish trend to Dogecoin. After a recent interview, where he jokingly called this cryptocurrency as a trick, the asset declined by 35%. Thus, the "Elon Effect" comes into force.

Wave analysis Relevance up to 12:00 UTC--4

Analysis of GBP/USD on May 11, 2021. Boris Johnson under investigation over Caribbean holiday

For the Pound/Dollar instrument, such movements continue, which are very difficult to attribute to any particular wave structure.

Wave analysis Relevance up to 12:00 UTC--4

Analysis of EUR/USD on May 11, 2021. Investor sentiment in the European Union improved in May

The wave counting on the 4-hour chart is still completely understandable and does not require any additions.

Trading plan Relevance up to 02:00 UTC--4

Analytics and trading signals for beginners. How to trade GBP/USD on May 12? Analysis of Tuesday. Getting ready for Wednesday

The pound/dollar traded with minimal upward bias and low volatility on Tuesday.

Fundamental analysis Relevance up to 12:00 UTC--4

EUR/USD and GBP/USD: Euro and pound froze in anticipation of serious reports on US inflation and UK GDP

The euro returned to its local highs, while the pound sterling never managed to break higher. The pressure on traders comes from tomorrow's US inflation data, as the reaction and final values may surprise the markets, as it did with the US unemployment rate report last week.

Technical analysis Relevance up to 13:00 UTC--4

May 11, 2021 : EUR/USD Intraday technical analysis and trade recommendations.

Bearish breakout below 1.1970 was needed to enable more bearish decline initially towards 1.1925. However, the EURUSD achieved a recent bullish breakout above 1.2130 towards 1.2155 which applied some bearish rejection.

Fundamental analysis Relevance up to 13:00 UTC--4

GBP/USD. Finest hour of the pound: hawkish hints, the Scottish question and the weakening of quarantine

The pound renews local highs against the dollar, indicating its intentions to renew the two-year high - 1.4240. The current fundamental background contributes to the further growth of GBP/USD

Technical analysis Relevance up to 13:00 UTC--4

May 11, 2021 : GBP/USD Intraday technical analysis and trade recommendations.

The GBPUSD was trapped between the depicted two price levels ( 1.3880 and 1.3950 ) until bullish breakout occurred earlier Yesterday. Further bullish advancement was anticipated towards 1.4100 then 1.4150 where the lower limit of the recently-broken channel is currently located.

Trading plan Relevance up to 07:00 UTC--4

Analytics and trading signals for beginners. How to trade EUR/USD on May 12? Analysis of Tuesday. Getting ready for Wednesday

The bulls managed to get the pair back on the upside, but failed to surpass the important level of 1.2174.

Technical analysis Relevance up to 13:00 UTC--4

May 11, 2021 : EUR/USD daily technical review and trade recommendations.

An upside pullback was expected to pursue towards 1.1840 & 1.1990. Both levels failed to provide sufficient bearish pressure. More upside movement was expected to pursue towards 1.2175 (backside of the broken trendline) where initial bearish price action was demonstrated.

Crypto-currencies Relevance up to 08:00 UTC--4

Ethereum: fundamental factors of the strength of the second cryptocurrency

Ethereum renewed its all-time high again, rising above $4,000 at the moment. Meanwhile, bitcoin is in its consolidation range, and the technical benchmarks have not undergone major changes.

Crypto-currencies Relevance up to 08:00 UTC--4

ETH hits new record, LTC and XRP continue to fluctuate: analysis and forecast for major altcoin pairs

A redistribution of responsibilities and authorities is observed in the cryptocurrency market recently. In the second quarter of 2021, altcoins took the first positions, which historically are much better than bitcoin during this period.

Stock Markets Relevance up to 10:00 2021-05-13 UTC--4

Trading Signal for Dow Jones 30 #INDU for May 11 - 12, 2021: Sell Below 34,600

From a technical point of view, the Dow Jones is expected to continue its decline to the 33,000 mark and then halt. Since the eagle indicator points to a bearish signal in the medium term...

Crypto-currencies Relevance up to 10:00 UTC--4

Christine Lagarde and Andrew Bailey continue to criticize cryptocurrencies.

The head of the Bank of England does not recommend investing in bitcoin. The head of the ECB - draws attention to money laundering using cryptocurrencies.

Technical analysis Relevance up to 10:00 UTC--4

Technical analysis on Gold for May 11, 2021.

Gold price is trading inside a short-term bullish channel after the major low at $1,677 and inside a longer-term bearish channel since August of 2020. Price is approaching the upper bearish channel boundary as it continues to respect the bullish channel boundaries.

Technical analysis Relevance up to 10:00 UTC--4

Short-term analysis on EURUSD for May 11, 2021

EURUSD is trading near its highs of 1.2170. Short-term trend remains bullish as price has not broken yet any of the pull back lows along the way. Support is at 1.2110 and next at 1.2060. EURUSD is vulnerable to a pull back as price has reached three times already the 1.2170 resistance area and all.

Trend line Relevance up to 10:00 UTC--4

Short-term technical analysis on USDJPY for May 11, 2021.

USDJPY is trading just above 108.50. Price is about to break out and below the major support trend line. In previous analysis we warned traders of a possible reversal to the downside from 109.50 area. Price has reversed since then and a break below 108.50 would increase the chances of the bearish.

Crypto-currencies Relevance up to 10:00 UTC--4

XRP/USD remains under pressure, vulnerable to more downside.

XRP/USD price made another dive yesterday towards $1.30 after getting rejected once again at the major resistance area of $1.55-$1.65. Short-term trend is vulnerable to a move towards $1.18-$1 as long as price is below $1.65.

Technical analysis Relevance up to 09:00 2021-05-13 UTC--4

Trading Signal for GBP/USD for May 11 - 12, 2021: Sell Below 1.4160

The technical reading of the eagle indicator shows that the pair is in the overbought zone. As it reached the sell level when it touched 95, it is likely that there will be a downward correction movement to...

Crypto-currencies Relevance up to 09:00 UTC--4

Bitcoin medium-term analysis and expectations

So far Bitcoin price action has not been much different from our expectations. At the end of April we warned bears that a bounce was coming in Bitcoin prices and we should expect a move towards $57,000 and the 61.8% Fibonacci retracement of the decline.

Crypto-currencies Relevance up to 09:00 UTC--4

Bitcoin volume analysis for May 11, 2021

Bitcoin daily forecast based on volume and technical analysis with statistics and trades

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We present to you the daily updated section of market analysis prepared by professional analysts of InstaForex Company. Each of the specialists represented in this section, carries out analytical reviews in accordance with his/her vision of the current situation on foreign exchange and other markets. However, the outlooks below are only recommendations and not instructions to any actions; they contain analysis of the current situation on the currency market. In some cases the analysts' opinions to changes in the current market situation can differ, in this way, we recommend you to follow the publications of only one analyst, who in your view most clearly and correctly evaluates the situation on the international Forex market.