Week: 10-14.05.2021

 

Key event: USD. Retail Sales

The retail Sales measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes in such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive for the USD, while a low reading is seen as negative.

We expect a lower reading than the previous month.

Until release day, we expect a continuation of the actual US weakening trend against most major pairs. We do not expect a surprising positive data release that could reverse the actual trend direction.

Key Levels EUR/USD:

  • Resistance 1.2170, 1.2350

  • Support 1.1990, 1.1850, 1.1700

 

Trend EUR/USD

 

Bullish

Price has recovered aggressively to the upside. A test of the next resistance is very likely. If that level doesn't hold we should see a rally all the way to 1.2250/1.2300.

 

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important release might overturn the actual trend.

The 5%ers operate an Online Funding and Growth Trading Program, operated by FIVE PERCENT ONLINE LTD, a registered UK Company number 12553363. The 5%ers welcomes Financial Market traders from any nationality and any age from 18 years old to participate. The 5%ers provides fully-funded forex trading account with monthly profit payout plans and lucrative growth scenarios to traders who qualify for the program’s trading requirements. Under a 3rd party contract, The 5%ers recruits talented traders to work for the company, on the company’s platform and using the company’s assets and funds. The 5%ers is not a broker, and not associated with any particular broker. and do not service financial trading services of any type. The 5%ers does not invest clients capital on the financial markets, all funding of clients account is sourced by the ownership own capital. The 5%ers is a brand name, operated by Five Percent Online LTD, and is a privately owned Legal Corporation, performing a Nostro-investment operation. It is not operating as a Financial Institution of any type, nor is it a Broker, nor a Broker Marketing platform, and does not accept Investor’s capital.

Recommended Content


Recommended Content

Editors’ Picks

GBP/USD clings to recovery gains above 1.3200, as BoE looms

GBP/USD clings to recovery gains above 1.3200, as BoE looms

GBP/USD sustains the recovery above 1.3200 in early Europe on Thursday, having found buyers near 1.3150. A fresh US Dollar pullback and a rebound in risk sentiment offer support to the pair ahead of the BoE policy announcements. 

GBP/USD News
EUR/USD holds higher ground above 1.1100, focus shifts to ECB-speak

EUR/USD holds higher ground above 1.1100, focus shifts to ECB-speak

EUR/USD is holding higher ground above 1.1100 in the early European session on Thursday. The pair is underpinned by the renewed US Dollar retreat, as traders digest the Fed's dovish outlook, bracing for ECB-speak for fresh trading incentives. US data are also eyed. 

EUR/USD News
Gold price jumps back closer to all-time peak, $2,600 remains in sight amid fresh USD weakness

Gold price jumps back closer to all-time peak, $2,600 remains in sight amid fresh USD weakness

Gold price regains positive traction following the previous day's pullback from the all-time peak and builds on its steady intraday ascent heading into the European session on Thursday. 

Gold News
BoE expected to keep interest rate unchanged at 5% as price pressures persist

BoE expected to keep interest rate unchanged at 5% as price pressures persist

After a close call in August, the Bank of England’s September interest rate decision is keenly awaited for fresh cues on the bank’s future policy action and the pace of its bond sales.

Read more
Bitcoin surges to $62,000 mark after 50 bps Fed rate cut

Bitcoin surges to $62,000 mark after 50 bps Fed rate cut

Bitcoin and Ripple eye for a rally as they break and find support around their resistance barrier. Meanwhile, Ethereum demonstrates signs of recovery as it approaches a critical resistance level, indicating that an upward rally could be on the horizon if it successfully breaks through.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Majors

Cryptocurrencies

Signatures