InstaForex Loprais Team - Official participant of the Dakar rally

Open Demo Account

Trading Platform

How to start trading

Video Tutorials

Advantages for Affiliates

We are in social networks

InstaForex Stars

InstaForex Offline

InstaForex Loprais Team - Official participant of the Dakar rally

Forex Analytical Reviews

Forex Analysis & Reviews

Analytics today

May 7, 2021 : EUR/USD Intraday technical analysis and trade recommendations.

14:44 2021-05-07 UTC--4 Relevance up to 14:00 UTC--4

Author: Mohamed Samy

Popular analitics

EUR/USD: USD knocked down by disappointing US NFPs

12:25 2021-05-07 UTC--4

May 7, 2021 : EUR/USD Intraday technical analysis and trade recommendations.

14:44 2021-05-07 UTC--4

May 7, 2021 : EUR/USD daily technical review and trade recommendations.

14:35 2021-05-07 UTC--4

May 7, 2021 : GBP/USD Intraday technical analysis and trade recommendations.

14:39 2021-05-07 UTC--4

Bullish breakout in SPX, but longer-term picture remains vulnerable

11:18 2021-05-07 UTC--4

Open account with InstaForex and earn on Forex

Open demo account

If you are new to Forex

Download MetaTrader trading platform

Download MetaTrader trading platform

Download MetaTrader trading platform

Hot topic: Coronavirus (COVID-19)

Technical analysis Relevance up to 14:00 UTC--4

May 7, 2021 : EUR/USD Intraday technical analysis and trade recommendations.

More bearish decline was expected towards 1.1970 which has provided quite significant bullish rejection so far. Bearish breakout below 1.1970 was needed to enable more bearish decline initially towards 1.1925.

Technical analysis Relevance up to 14:00 UTC--4

May 7, 2021 : GBP/USD Intraday technical analysis and trade recommendations.

By the end of last week, temporary signs of bullish breakout above 1.3950 were witnessed. However, this turned out to be a bullish trap once the Gbp/Usd pair returned below 1.3950 again. Yesterday, the GBPUSD was trapped between the depicted two price levels ( 1.3880 and 1.3950 ) until bullish.

Technical analysis Relevance up to 14:00 UTC--4

May 7, 2021 : EUR/USD daily technical review and trade recommendations.

Now, the price zone of 1.1990 stands as a prominent SUPPORT-Zone for the EURUSD pair. More upside movement is expected to pursue towards 1.2175 (backside of the broken trendline) where price action should be watched cautiously. Signs of bearish rejection should be anticipated.

Crypto-currencies Relevance up to 11:00 2021-05-12 UTC--4

Bitcoin will not fall below $40,000. Forget about crypto winter

Bitcoin continues to trade sideways at 52,929.55 - 57,513.35 between the two blue dotted lines. Moreover, the volatility of the main cryptocurrency slowed down even more, as the BTC/USD quotes found local support at the level of 100 on Fibo Expansion ($55,777.08 per coin).

Crypto-currencies Relevance up to 09:00 2021-05-09 UTC--4

ETH takes a break, XRP and LTC approaches important marks: reasons and forecasts

The cryptocurrency market has been on the rise over the past few days. However, this is largely the merit of Ethereum and several other altcoins. Major cryptocurrencies, like bitcoin, fluctuate within narrow corridors.

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

EUR/USD: USD knocked down by disappointing US NFPs

The greenback was knocked down by the weak US nonfarm payrolls for April. Indeed, the employment in April greatly undershot the forecast. Meanwhile, EUR/USD is testing multi-week highs.

Crypto-currencies Relevance up to 11:00 2021-05-10 UTC--4

Trading Signal for Ripple XRP, for May 07 - 10, 2021: Buy above $1,6277

On the technical level, we note that XRP is located in 4-hour charts above the SMA of 21 and the EMA of 200. This is a sign that there could be an upward movement of XRP in the next few days.

Stock Markets Relevance up to 11:00 UTC--4

Bullish breakout in SPX, but longer-term picture remains vulnerable

In our last analysis on SPX we mentioned that a pull back towards 4075 was justified as long as price was trading below 4180. Breaking above 4180 would be a bullish sign that would bring price to 4200. The index broke resistance late yesterday and is now trading at 4234 having broken out of the.

Crypto-currencies Relevance up to 11:00 UTC--4

XRP/USD challanges important resistance area of $1.60-$1.70.

XRP/USD has come back towards the major resistance area of $1.60-$1.70. Price briefly moved above the resistance but price is back inside the resistance area. So far price action shows that bulls keep control of the trend and that price is being supported. After the huge upward move to $1.97 and.

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

USDJPY confirms our bearish short-term view.

In previous posts we warned traders in USDJPY of the increased chances of a reversal from 109.60. In our latest analysis we mentioned the horizontal support at 109.10 that if broken would provide a short-term sell signal targeting at least 108.50.

Ichimoku Indicator Relevance up to 10:00 UTC--4

Ichimoku cloud indicator analysis of EURUSD for May 7, 2021

EURUSD has provided another bullish signal by breaking above the 4 hour Ichimoku cloud. EURUSD has broken above the key short-term resistance of 1.2070 and is already above 1.2130. Trend is now again bullish in the 4 hour chart despite a short lived change in trend earlier this week.

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

Gold price reaches bullish target

Yesterday we mentioned in our analysis that if Gold price were to break above the trading range, it would produce a bullish signal and the target would be at $1,837. Not much time later, price broke above resistance and gave the much anticipated bullish signal. Today Gold price has reached the.

Fundamental analysis Relevance up to 08:00 2021-05-12 UTC--4

EUR/USD: Strong statistics on US employment and inflation may bring investor interest back to sales

Disappointing US business statistics, falling Treasury yields, and the dovish rhetoric of most Fed officials have made the US dollar lose much of the gains it has made since late April.

Technical analysis Relevance up to 10:00 2021-05-10 UTC--4

Trading Signal for Gold XAU/USD, for May 07 - 10, 2021: Key level 1820

The market sentiment report for today Friday shows that 62.5% of operators are selling gold. That means that we can continue buying with 1,843 targets in the short term.

Technical analysis Relevance up to 10:00 2021-05-09 UTC--4

BTC analysis for May 07,.2021 - WEll defined trading range and potential for the downside rotation towards $53.125

Watch for selling opportunities...

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

Trading Signal for Nasdaq 100 #NDX, for May 07 - 10, 2021: Buy above 13,660

The Nasdaq 100 Tech Index, #NDX, found strong support at the 6/8 murray zone located at 13,437 and from that point now remains above the 21 SMA and 200 EMA on 4-hour charts. Strong bullish momentum is likely to emerge above this level.

Technical analysis

Analysis of Gold for May 07,.2021 - Overbought condiiton and potential for downside rotation towards $1.815 and $1.801

Watch for selling opportunities...

Technical analysis

EUR/USD analysis for May 07 2021 - Buying climax and potential for the downside mvoement towards 1.2060

Watch for selling opportunities...

News Relevance up to 07:00 2021-05-09 UTC--4

Prerequisites for bitcoin's new growth cycle have appeared

The last few weeks have been really tough for the first cryptocurrency. After reaching another maximum, the asset slipped to $60,000, from where a rapid decline began due to the market correction, exacerbated by negative news and technical problems of the cryptocurrency.

Technical analysis Relevance up to 09:00 2021-05-10 UTC--4

Trading Signal for EUR/USD, for May 07 - 10, 2021: Key level 1.2062

The market sentiment report for the weekend ahead shows that there are 63.34% traders who are selling the pair. This is a sign that the Euro still has bullish strength and there could be an attempt to break the 1.2146 zone and up to 1.2205.

Trading plan Relevance up to 08:00 UTC--4

GBP/USD: plan for the US session on May 7 (analysis of morning trades)

In my morning forecast, I paid attention to the level of 1.3921, as well as to the UK data. Let's take a look at the 5-minute chart and talk about what happened

Show more

Get profit from trading on Forex

Open trading account

If you are new to Forex

Open demo account

Download trading platform

Choice of bonuses for clients

Choose your bonus

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.