The latest Forex trends tend to revolve around GBP and JPY with the classic old as time, Gold, still keeping its position among the most popular assets to trade on. To know more, keep on reading to find the top 4 assets you don’t want to miss!
EUR/USD
The all-time currency pair and classic asset that is not here to disappoint - correlation of EUR to USD are as popular as ever among the investors.
What to look for here?
The charts are showing that standard fluctuations in price have increased recently, resulting in a sharp fall of EUR below 1.1200. If you are wondering what might have caused such a sudden movement on the charts, you might want to check out the results of the release of EZ economic data (German IFO Survey) as well as the move in German bonds.
What to expect next?
Keeping an eye on this asset might be crucial for your investment, since falling lower than 1.1175 would break a two-year record of all time low prices for Euro. Get your support and resistance levels ready for major observations!
GBP/USD
The currency pair holds its rightful place among the most popular and traded assets on the market. Slowly but steadily, the British Pound is aspiring for stability, but trend tends to stay Bearish. Still, attentive traders might have noticed rapid changes that seem to be unpredictable in terms of direction and duration.
Each and every piece of news you hear does the chart dirty, making it all about those unpredictable fluctuations and it might be utterly confusing. However, if you look closely, any events clarifying the position of Great Britain on the worldwide arena and stating points in future conditions of Brexit, such as voting for “deal” or “no deal” conditions, make GBP stronger and its position on worldwide currency arena more stable.
Our verdict – check the news, closely monitor any clarifications and gatherings of Parliament, keep calm and play it cool.
USD/JPY
Spring is the time of awakening and cherry blossoms, however, for a country known for its beautiful cherry trees, Japan is losing its grasp on the national currency rate against USD.
Having experienced a sharp fall on the mid-April, USD is strong as ever in relation to JPY and grows stronger, breaking the monthly peak at the end of April reaching the peak since mid-December and overall setting high expectations for this currency pair.
On 2 May a long-awaited announcement by BoJ took place, deciding pretty much the future of overall the direction in which the economy would go from now on with the help of Haruhiko Kuroda, the current governor of the Bank. Regardless of favourable decisions on liquidity and inflation rate. JPY still takes a deep dip in correlation to USD.
Decisions and announcements of BoJ regarding the inflation rate still stay the crucial ones, deciding overall the future and main direction of this currency pair, so don’t miss out on that important news regarding JPY in the economic calendar.
XAU/USD
Gold is an everlasting classic among all the investment decisions, its status as support value for a national currency, and the interest in this trading asset stays blooming and flourishing.
The price of Gold itself, however, is not blooming at all in comparison to USD. If you look closely at the latest charts, you might find the obvious Bearish trend tending to continue still. So, has the price for Gold reached its bottom for the time being? Do we hope on this falling trend or is it time to make your support and resistance lines in future hopes of the price coming back on track? Comparing all the latest trends and overall traders’ sentiment data, we can see increasing demand for short positions - people tend to trust the trend direction, especially since it has been this stable for a long time.
An experienced trader, however, would most certainly closely monitor the latest economic news related to the rate of USD since we have a lot of major events prepared for the upcoming May! It’s important to combine both technical and fundamental analysis to achieve the perfect balance for your forecast on the latest trends.
Bottom line
Those were the currency pairs you definitely would want to follow to trade in May and take a closer look at the price movements. However, you are free to choose any other asset as our platform provides a great variety of currencies you can trade on!
Don’t forget to take a look at the economic calendar, have your notifications for news turned on and be prepared to dive into the world of trading.
Act smart, be curious and get ready to go big!
