Forex Signals Brief May 30: GDP, Inflation and Consumer Data Today
Skerdian Meta • 2 min read
Yesterday’s Market Wrap
Today’s Market Expectations
Speaking of Spain, today we had the Spanish Flash CPI YoY which cooled off from 4.1% previously. The Swiss GDP returned to growth after a slight expansion in Q1, coming from a stagnatioin at 0.0% in Q4 of last year. Later we have the CB Consumer Confidence from the US which is expected to soften to 99.1 points from 101.3 points previously.
Forex Signals Update
Last weekwe remained long on the USD as buyers stayed in control, which was a good strategy. We left several forex signals open over the weekend and yesterday we opened a few more, but the price action was slow and only one closed in profit.
MAs Keeping GOLD Down
XAU/USD – 60 minute chart
Booking Profit on the USD/JPY Signal
BITCOIN Failing at the 50 SMA Initially
BTC/USD – Daily chart
ETHEREUM Holding Above the 50 SM
In recent weeks, the buying pressure for Ethereum has slowed down, and we have witnessed a retreat in its price over the last few days. However, the correction appears complete as the 100 SMA (green) held as support for ETH/USD and buyers pushed the price above the 50 SMA as well. Now it seems that this moving average has turned into support.