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EXCELLENT JOB ON CALLING GOLD!!!
You guys are doing great...

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Update Time: 18 May 2021 01:38GMT

DAILY GBP/USD OUTLOOK - +1.4165+

Cable's erratic rise fm 1.4006 (Thur) to 1.4146
partly on cross-buying in sterling suggests correct
ion fm May's 10-week peak at 1.4167 has ended n
upside bias remains for re-test of said res after
consolidation but 1.4185/90 shud cap upside in Asia

Trade fm long side for 1.4165 1st n only below
1.4076/78 sup prolongs choppy swings, risks 1.4037.
Rate: +1.4165+
Strategy: +Target met+
Position: Long at 1.4085
Objective: 1.4165
Stop-Loss:
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MARKET REVIEW ON 18 May 2021 00:05 GMT

Dollar ends little changed on renewed Covid-19 concerns

The greenback ended the day little changed against its peers on Monday due to renewed concerns of Covid-19 in Asia and as U.S. Treasury yields erased their initial losses and gained in New York. 
 
In other news, Reuters reported U.S. economic growth could hit 7% this year, Fed vice chair Richard Clarida said on Monday, as labor and other supply bottlenecks get resolved and the recovery accelerates. 
 
"It looks like the economy if anything can pick up speed this year...We could have growth north of 6%, possibly 7%," Clarida said in remar ...
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MARKET MOVING NEWS

  
All times in GMT    
17 May 2021 22:45 USD/MAJORS - Reuters just reported the Federal Reserve will monitor inflation closely as the economy works through imbalances between supply and demand caused by the pandemic to ensure that consumers' inflation expectations remain anchored near the central bank's 2% target, Dallas Fed Bank President.....
17 May 2021 14:56 USD/MAJORS... Reuters then reported U.S. economic growth could hit 7% this year, Fed vice chair Richard Clarida said on Monday, as labor and other supply bottlenecks get resolved and the recovery accelerates. 
 
"It looks like the economy if anything can pick up speed this year...We could have growth .....
17 May 2021 14:35 USD/MAJORS... Reuters news, Fed's Clarida says : 
 
- baseline view is that achieving maximum employment will not put undue pressure on prices 
- getting demand and supply of workers into balance "may take some time" 
 
.....
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ECONOMIC INDICATORS FOR 18/05/2021

All times in GMT    
Time Country Indicator Actual Forecast Range Previous Revised
2200 U.S. Dallas Fed's Kaplan speaks
2350 Japan GDP Deflator - Q1 -2.4% N/A N/A 0.3%
2350 Japan GDP QQ - Q1 -1.3% -1.2% -2.3/-0.5 2.8%
2350 Japan GDP QQ Annualised - Q1 -5.1% -4.6% -8.8/-2.0 11.7% 11.6%
0130 Australia RBA Meeting Minutes
0430 Japan Tertiary Industry Act. MM-Mar N/A N/A -1.0%
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DAILY MARKET OUTLOOK

Update Time: 17 May 2021 23:41 GMT

EUR/USD - 1.2155

Euro's gain to 1.2168 (Europe) on Mon suggests pullback from last Tue's 10-week high at 1.2181 has ended last week at 1.2052 (Thur) and as long as 1.2104/07 holds, upside bias remains for recent upmove from 1.1705 (Mar low) to extend marginal gain, 'loss of upward momentum' should cap price well below daily pivotal res at 1.2242.  
  
Below 1.2104 signals top is made, then risk would shift to the downside for stronger retracement to 1.2072, then 1.2052 later.  
  
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20 years of history in providing forex market analysis and trading recommendations to institutional traders
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DAILY USD/JPY TECHNICAL OUTLOOK

All times in GMT    
Last Update At 17/05/2021 23:29 GMT
Trend Daily Chart Daily Indicators 21 HR EMA 55 HR EMA
Sideways Neutral 109.22 109.28
Trend Hourly Chart Hourly Indicators 13 HR RSI 14 HR DMI
Sideways Falling 45 +ve
Daily Analysis
Choppy consolidation to continue
Resistance Support
109.95 - Apr 09 high
109.78 - Last Thur's 1-month high
109.65 - Last Fri's high
109.08 - Mon's low
108.90 - Last Wed's Asian high (now sup)
108.67 - Last Wed's low
. USD/JPY - 109.19.. Although dlr met renewed selling at 109.50 at Tokyo open on Mon n fell in tandem with US yields, however, intra-day rebound in US yields lifted price fm 108.08 (Europe) to 109.28 in NY b4 moving narrowly. . On the bigger picture, dlr's fall fm 118.66 (Dec 2016) to 2019 low at 104.46 (Sep) confirms early uptrend fm 2016 29-month bottom at 99.00 has hit a top there.....
Click on the chart to enlarge image

charts offered by ProRealTime.com
 
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WHO WE ARE

AceTrader provides "up-to-the-minute" financial market commentaries and foreign exchange trading recommendations round the clock.

AceTrader is the internet operation of Trendsetter, a global specialist data provider who has been providing its users with real time commentaries and trading recommendations focusing on the foreign exchange market for over 20 years. A dedicated team 7 Analysts monitor the market and update recommendations and commentaries 20 hours a day.

Our coverage includes 20 different instruments with a primary focus on the foreign exchange market and Gold & Silver.

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