Friday trades: Coinbase, gold, EUR/USD

Friday trades: Coinbase, gold, EUR/USD

What do you need to know on Friday?

  • Disney has published mixed financial results: earnings were well above the forecasts, but revenue was slightly worse. Besides, growth in streaming subscribers was poor.
  • Alibabahas revealed worse-than-expected earnings results yesterday. As a result, the stock price dropped to $204.00, the low unseen for almost a year.
  • US jobless claims came out slightly less than forecast, which is good for the USA.
  • Bitcoin has reversed up on Friday after the enormous drop yesterday, triggered byMusks tweet.
  • Coinbasedropped by 6.5% in pre-hours trading today, after reporting that revenue and earnings came out slightly worse than expected.

Technical tips

EUR/USD has bounced off the 100-day moving average of 1.2050 and started edging higher. It may rise to the upper trend line of 1.2175, which the pair should fail to cross on the first try. On the flip side, if it drops below the 1.2050 support, it may fall to the low of May 5 at 1.2000.

Friday trades: Coinbase, gold, EUR/USD

EUR/USD chart

Oil is trying to recover from yesterdays losses. XBR/USD (UK Brent oil) has bounced off the lower trend line several times already, thats why we would expect it to reverse from this lower trend line. On the way up, the oil will meet resistance levels at the 50-period moving average of $68.30 and the psychological mark of $70.00. However, if it drops below the 200-period moving average of $65.60, it may fall to late-April lows.

Friday trades: Coinbase, gold, EUR/USD

Gold has reversed up from the 50-period moving average of $1815. The way up is clear to the recent highs of $1840, but this level lies at the 50-week moving average (to see ait switch to the weekly chart). Thus, gold may struggle to cross it. Support levels are $1815 and $1800.

Friday trades: Coinbase, gold, EUR/USD

XAU/USD chart

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