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

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Join the Facebook community of FBS!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE

View
Inflation concerns led tech stocks down and gold up

Inflation concerns led tech stocks down and gold up

Information is not investment advice

Latest news

  • Stocks especially tech ones dropped on Tuesday as increasing commodity prices raised concerns over inflation. Higher inflation may push up interest rates, pressing down stock valuations. Bloomberg said that a measure of inflation expectations hit the highest mark since 2006.
  • The US inflation report will be out already this Wednesday. It’s widely expected to reveal a strong gain. Investors are trying to predict whether the inflation increase pushes the Fed to tighten the policy sooner than expected.
  • Gold is often viewed as a hedge against inflation, that’s why it’s trading now near the three-month high. Gold showed the largest weekly increase since November on Friday after a surprisingly poor NFP.
  • Oil fell as traders monitored the worsening fallout from the closure of the largest US oil-products pipeline.

Tech analysis

EUR/USD has broken through the upper trend line at 1.2130. It retraced to this line, but it should be just a natural short sell-off ahead of the further rally up. On the way up, the pair will meet resistance levels at 1.2175 – the recent high and 1.2250 – the high of February 25. However, if the sentiment changes, the pair may fall to the 100-day moving average of 1.2050 and the one-week low of 1.2000.

EURUSDDaily.png

Gold is getting closer to the upper trend line of the descending channel, which coincides with the 200-day moving average of $1850. If it manages to break it, the way up to the highs of late January of $1875 will be open. In the opposite scenario, the move below the $1825 support will press the metal further down to $1813 – the intraday low of May 6.

XAUUSDDaily.png

GBP/USD has broken through the psychological mark of 1.4000 since political risks eased in the UK. It looks like the pair is overbought: the price went above the upper line of Bollinger Bands and the RSI indicator flattened just below the 70.00 level. On the smaller timeframes, GBP/USD has already reversed down. Therefore, it may retest 1.4000 again.

GBPUSDDaily.png

Insert text ...

LOG IN

Similar

Popular

Apple event surprised traders

Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.

Choose your payment system

Be on top of your game

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