Don’t waste your time – keep track of how NFP affects the US dollar!

Data Collection Notice

We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.

facebook logo with graphic

Join Us on Facebook

Stay on top of company updates, trading news, and so much more!

Thanks, I already follow your page!
forex book graphic

Beginner Forex Book

Your ultimate guide through the world of trading.

Get Forex Book

Check Your Inbox!

In our email, you will find the Forex 101 book. Just tap the button to get it!

FBS Mobile Personal Area

market's logo FREE - On the App Store

Get

Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

79% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

What To Trade On May 23 - 27?

What To Trade On May 23 - 27?

Information is not investment advice

Last week blew traders' minds! 

The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday. As a result, EURUSD increased to 1.0600, and USDJPY plunged to 128. Stock indices found support levels. Chinese Hang Seng rose for the second week in a row. US500 and US100 plunged at the beginning of the previous week but reversed on Thursday. The critical support levels for US500 and US100 are 3850 and 11 700, respectively. The oil market keeps trading sideways as European Union tries to approve the Russian oil embargo. The crypto market followed the US stock indices. As a result, Bitcoin decreased to the local support of $27 000, and it looks like buyers will hold the asset above this level for a while.

Trade ideas

Forex

On Monday, the head of the Bank of England will participate in a panel discussion regarding the monetary policy's future. More hawkish than expected statements might boost GBPUSD to 1.2800. Otherwise, the pair might decline below 1.2350 once again. On Tuesday, the German flash manufacturing PMI will shake the euro. Better-than-expected data might push EURUSD to 1.0700.

On the other hand, if the actual result is lower than the expectations, the pair might plunge to 1.0350. The period from Wednesday to Friday will be intense for the US dollar. On Wednesday, the FOMC will present the meeting minutes. On Thursday, the prelim GDP will be posted. On Friday, the bureau of economic analysis will publish the core PCE price index. The US dollar index plunged at the end of the previous week with a strong impulse. The trend might continue if the US economic data signals an upcoming recovery. 

Stocks

Next week, Nvidia and Alibaba will post earnings reports. 

Nvidia's price lost 50% of its high in January 2022. Better-than-expected report might push the stock to the $200 resistance. On the other hand, in case of a worse-than-expected release, the price might fall to $150.  

Alibaba has found its global support, and the price is ready for the massive uptrend. The upcoming report might confirm investors' opinions about the Chinese market recovery.  

Oil, gas & metals

XBRUSD has been testing the $112.50 resistance for the past three weeks. As soon as the breakout happens, the price will head towards $118.00. At the same time, XTI is moving towards $120. XAUUSD broke through the upper border of the descending channel. As soon as the price breaks through $1850, it will head towards $1870 and $1900. XAGUSD bounced off the global support of $20.50. If the price breaks through $22.50, it will head towards $24.30.

Similar

Powell and NFP Release Will Crash USD

Markets are pricing Feds 75-basis-points rate hike. Thus, all attention will be drawn to Powell's rhetoric regarding the next decision at the December 14 meeting. How will it affect the USD?

Popular

BTCUSD: The bottom Is Near

Since November 2021, Bitcoin (BTCUSD) has been experiencing a strong downtrend losing over 70% from its all-time high.

Choose your payment system

Feel the Team Spirit

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later