This week’s ideas and beyond

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FBS Analytics

Personal Area

Instruments of the Week

Each week, we’re featuring trading instruments with reduced spreads. This week’s stars are...

GBPAUD & EURGBP, with spreads lowered by 50%!

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Seize the moment and make the best of the enhanced conditions.

Top Gainers Last Week

• Coinbase Global, Inc. (#COIN) +24.71%

The recent surge in the stock’s price was driven by the strong performance of the overall cryptocurrency market. This upward momentum boosted prices across the crypto sector, leading to significant gains for Coinbase and related stocks.

• GBPUSD +1.58%.

GBPUSD’s rise was influenced by events such as the US Non-Farm Employment Change and Fed Chair Powell’s testimony, as well as the ECB Press Conference, which may have affected the Eurozone economic outlook and Forex dynamics.

Trade GBPUSD

Top Losers Last Week

• Nordstrom, Inc. ( #JWN) -17.66%

Nordstrom’s stock price drop can be attributed to its Q4 earnings report and full-year earnings per share (EPS) guidance, which fell short of analysts’ expectations. This resulted in an adverse reaction from the market, leading to a slump in share value.

• USDJPY -1.93%

The movement of USDJPY could be attributed to significant economic events, such as Fed Chair Powell’s statements, as well as critical data releases like the US non-farm employment change and Japanese household spending reports.

Trade USDJPY

US500

On the H4, the US500 is in a long-term uptrend, and the price tests the lower trend line. This creates two options:

•	A bounce off the trend line will allow US500 to rise to 5170.

•	A break of the trend line and a fall below the support at 5120 will end the bullish trend and send the price to 5053.

XAGUSD

XAGUSD is rallying rapidly, but silver has now reached the Fibonacci gold pocket.

•	If the bulls push the price above the strong resistance of 24.500, we expect a rise to 25.000.

•	A possible bounce off the resistance level would bring the price back to 24.000.

EURUSD

EURUSD has formed an ascending channel pattern, and the price has reached the upper trend line. Moreover, the price is nearing the 61.8 Fibonacci level.

•	If the price still manages to break through the resistance at 1.0970, the target will be at 1.1030.

•	Conversely, a rebound from the resistance and a fall below the support at 1.0930 will open the way to 1.0860.

FBS tips and analytics do not constitute a call to trade, trading advice or recommendation and are for information only.

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Look For More Insights in Our Telegram

In our Telegram channel (which is in English), you will find the most up-to-date trading ideas. More importantly, you will connect with a community of like-minded traders.

Last week, 15 out of 20 ideas from FBS analysts were accurate!

XAUUSD idea could’ve brought 2300 points.

XAUUSD idea could’ve brought 2700 points.

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Golden Tips Amid Market Volatility

As you might know, gold has surged by 7.12% in the past month, driven by growing concerns over the stability of fiat currencies.

In light of the recent volatility in the gold market, we’d like to share some tips on how to make the best of the precious metal’s movements.

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