See also
There are very few macroeconomic events scheduled for Wednesday. The only item of note is the second estimate of Germany's Business Activity Index for April. Second estimates typically do not differ much from the first, so we do not anticipate this indicator will have a significant impact. Accordingly, the market is likely to show no reaction. No events are scheduled today in the Eurozone, the United Kingdom, or the United States.
Once again, there is no point in discussing any fundamental events besides Trump's trade war. The escalation has been paused, and Trump continues announcing potential trade agreements without providing details. The dollar decline may resume if Trump begins to impose new tariffs, raise existing ones, or fail to sign trade agreements with most countries. However, the ongoing de-escalation of the conflict should, at least occasionally, support the U.S. dollar. It must be acknowledged that overall market sentiment toward the dollar remains highly negative, making it very difficult for the greenback to gain significant strength.
Thus, future market movements still depend entirely on Trump—specifically, on whether trade deals are signed and the previously imposed tariffs are reduced.
On this third trading day of the week, both currency pairs (EUR/USD and GBP/USD) may move in either direction, and trading decisions must be based solely on technical factors. Both pairs exhibited strong movement on Monday and Tuesday, each driven by concrete reasons. Today, however, could be a "quiet day."
Support and Resistance Levels: These are target levels for opening or closing positions and can also serve as points for placing Take Profit orders.
Red Lines: Channels or trendlines indicating the current trend and the preferred direction for trading.
MACD Indicator (14,22,3): A histogram and signal line used as a supplementary source of trading signals.
Important speeches and reports, which are consistently featured in the news calendar, can significantly influence the movement of a currency pair. Therefore, during their release, it is advisable to trade with caution or consider exiting the market to avoid potential sharp price reversals against the prior trend.
Beginners in the Forex market should understand that not every transaction will be profitable. Developing a clear trading strategy and practicing effective money management are crucial for achieving long-term success in trading.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
The macroeconomic data from the UK published last week looks frankly weak—everything is in the red zone, meaning worse than expected. Nevertheless, the pound continues to climb upward regardless
Five weeks ago, the total short position on the U.S. dollar against major currencies stopped increasing, which gave reason to believe the dollar might begin an offensive in the currency
Israel and Iran are exchanging missile strikes, but it seems markets are trying to play their own game, assuming that this conflict will not cross the nuclear threshold
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