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  EUR/USD fades the initial move north of 1.0900. Recent lows around 1.0800 emerge as the next contention area. EUR/USD  fades the pre-ECB uptick to the 1.0920 zone on Thursday. In light of the ongoing price action, extra losses in the pair remain in the pipeline in the short-term horizon. Against that, a break below the so far monthly low at 1.0808 (April 14 should pave the way for a quick visit to the 2022 low at 1.0805 (March 7) before the May 2020 low at 1.0766 (May 7). While below the 200-day SMA, today at 1.1440, the  outlook  for the pair is expected to remain negative.

  Comment on Gold on 05/04/2022: - In yesterday's trading session, after falling to the 1915 price zone, precious metal Gold bounced up to 1936. Yesterday's session closed with a rising green candle, but this increase was insignificant and according to Gold will continue to move sideways in the range of 1938-1915. - My personal view in today's trading session is biased towards #sell . We can sell short at the upper edge of the 1930-1937 flat zone with a safe target around 1915-1920. Here we liquidate the order and wait for the signal. I will update later when there is a buying rhythm.

 The U.S. dollar pushed higher in early European trade Tuesday, with the euro under pressure, with the intensifying conflict in Ukraine prompting demand for the world’s reserve currency. At 2:55 AM ET (0755 GMT), the  Dollar Index , which tracks the greenback against a basket of six other currencies, traded 0.3% higher at 97.660. Russian forces have intensified the bombardment of Ukrainian cities, warning residents of Kyiv to leave as a miles-long convoy of armored vehicles draws near to the capital. This is resulting in traders seeking out the dollar, the globe’s reserve currency, main safe haven, and most liquid asset. “Recent headlines that Russia is escalating nuclear preparations and that the west is imposing increasingly tough sanctions, including freezing assets and cutting off certain Russian entities from the SWIFT interbank communications network, suggest that the risk-off tone may linger throughout the week and potentially beyond,” said Matthew Weller, Global Head o...

WHAT IT INFLUENCES: EUR and its subsequent pairs Forex Advise Club WHAT'S HAPPENING: The Manufacturing Purchasing Managers Index (PMI) released by Markit economics, captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of the total GDP, the manufacturing PMI is an important indicator of business conditions and Germany's overall economic condition. Typically, a result above 50 signals is bullish for the EUR, whereas a result below 50 is seen as bearish. Follow us to always know the science of Forex Trading as well as the latest updates on technical analysis & fundamental analysis https://www.forexadviseclub.com/