Labor Day is celebrated on different days around the world, but in many cases it falls on the beginning of May. Consequently, markets may behave restlessly in times of limited volume. For starters, it is worth paying attention to the pair of EURUSD, which bounced off the downtrend line and is trying to stay above the 1.20 level:
Despite defending the support, the dollar has remained strong since the end of the previous week. Source: xStation5
Yesterday's rebound on Wall Street was only partial, as after the session the contracts moved south again. As you can see, we can even talk about a double or triple top on the US100:
In case of closing below the key support zone, the range of the pattern is around 13333 points. Source: xStation5
Despite quite a good session in Europe, the German DAX is doing poorly. DE30 contracts have the potential to break below the neckline of the head to shoulders formation. Nevertheless, the support is quite strong and the DAX is rising from around 15,000 points.
If the DE30 breaks through the neckline and supports at 15,000 then the next target for sellers is located around 14,650 points. Source: xStation5
Bank earnings could fill US economic data vacuum
US OPEN: "Green" Start to the Week on Wall Street
Indexes reduce gains after Bessent’s comments 🎙️
DE40: Europe's markets recovering from correction
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
