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Forex Market Update – May 8, 2025: USD Weakens, EUR & GBP Surge – Key Trading Opportunities Ahead
Forex Market Update – May 8, 2025: USD Weakens, EUR & GBP Surge – Key Trading Opportunities Ahead
08 tháng 5 2025・ 03:36
The Forex market on May 8 saw mixed movements among major currency pairs. The US Dollar continued to weaken against key counterparts as traders increasingly expect the Federal Reserve to maintain or cut interest rates in the coming months.
🔹 Summary of Major Pairs
| Pair | Current Price | % Change | Resistance | Support | Technical Rating |
|---|---|---|---|---|---|
| EUR/USD | 1.13339 | +0.21% | 1.1362 | 1.1300 | Buy |
| GBP/USD | 1.3354 | +0.46% | 1.3356 | 1.3286 | Buy |
| AUD/USD | 0.6462 | +0.56% | 0.6465 | 0.6424 | Buy |
| NZD/USD | 0.59691 | +0.49% | 0.5974 | 0.5938 | Buy |
| USD/JPY | 143.569 | -0.13% | 143.955 | 143.449 | Sell |
| USD/CAD | 1.38201 | -0.12% | 1.3839 | 1.3814 | Sell |
| USD/CHF | 0.82253 | -0.04% | 0.8243 | 0.8224 | Sell |
🔸 Trading Suggestions for Today
Top Buy Picks:
EUR/USD: Maintaining a steady uptrend; a breakout above 1.1362 may lead to 1.14.
AUD/USD and NZD/USD: Commodity currencies are gaining traction amid positive global risk sentiment.
Pairs to Avoid or Sell:
USD/JPY, USD/CAD, USD/CHF: Downward pressure persists as the Fed is seen pausing or cutting rates.
Pairs to Watch:
GBP/JPY (191.724, +0.31%): Further gains expected; a breakout above 192 could trigger short-term buy setups.
EUR/CAD (1.56584, +0.05%): EUR strength and CAD weakness support a bullish bias.
📌 Overall Outlook
Market sentiment is tilting toward risk-on, favoring non-USD assets like EUR, GBP, AUD, and NZD. Traders should monitor opportunities in these currencies while staying alert for upcoming Fed commentary and inflation data.
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