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Trade ideas thread – European session 26 May 2023

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The dollar continues to stay in control as we look to close out the week and it will be a question of whether the PCE price data will add to the gains in the currency later today. I outlined the moves in the dollar pairs yesterday below:

And adding to that, we also have gold easing further towards its 100-day moving average at around $1,935.

Those are the more interesting plays alongside other commodities at the moment with silver having broken below its own 100-day moving average earlier this week and copper catching a bit of a bounce after falling to its lowest levels since November last year.

Can the dollar round off the week in strong fashion? Or are we going to see a light pullback instead before month-end trading comes into play?

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.

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