Free Forex Trading Signals For May 4, 2026
It’s May 4, 2026, and the markets have started the new month on a relatively steady note. The euro and pound are holding recent gains with some conviction, USD/JPY has pulled back from its recent highs, gold is stabilizing after its correction, and Bitcoin continues to show impressive strength near 79k. I’ve been reviewing the charts all evening, and the overall tone feels like risk appetite is still in control while the dollar takes a modest breather after its recent run. These are my personal technical signals based on today’s closes and the levels I’m watching most closely right now. Trade responsibly — we’re in a market that rewards patience and tight risk management.
EUR/USD
Current Price: 1.1707
EUR/USD traded in a constructive range today, holding above 1.17 and showing decent buying interest on dips. After the heavy pressure we saw in March, the daily chart is now forming a series of higher lows, and momentum indicators have turned more positive. In my experience, these controlled recoveries after deep corrections often have more room to run before sellers regroup with any real force.
Signal Summary:
- Bias: Bullish
- Entry: Buy 1.1680–1.1710 zone
- Stop Loss: 1.1635
- Take Profit: 1.1820 (initial), 1.1890 (extension)
GBP/USD
Current Price: 1.3545
Cable pushed higher today, reclaiming the 1.35 level with decent conviction and showing resilience on pullbacks. Sterling had been lagging the euro recently, but this move suggests it’s catching up nicely. The short-term structure now has clear higher lows forming, and as long as we stay above 1.3280, the bulls look to have the upper hand for the near term.
Signal Summary:
- Bias: Bullish
- Entry: Buy 1.3510–1.3550
- Stop Loss: 1.3450
- Take Profit: 1.3700 (first target), 1.3780 (stretch)
USD/JPY
Current Price: 157.06
USD/JPY pulled back noticeably today, giving up some of its recent gains as yen bids returned. The pair has now retreated from the 160 area, and the daily chart is starting to show signs of overextension unwinding. I’m turning more cautious on the long side here and would prefer to sell rallies until we see fresh upside momentum.
Signal Summary:
- Bias: Neutral to bearish
- Entry: Sell 158.50–159.00 resistance
- Stop Loss: 160.00
- Take Profit: 156.00 (initial), 154.50 (extension)
Gold (XAU/USD)
Current Price: 4561.55
Gold stabilized today after its recent volatility, holding above $4550 with decent buying interest on dips. The correction from earlier this month now looks like a healthy shakeout in a strong bull market. The macro drivers (central bank buying, inflation hedging, safe-haven demand) are still very much in place — I’m viewing current levels as an attractive entry.
Signal Summary:
- Bias: Bullish on dips
- Entry: Buy 4530–4570 zone
- Stop Loss: 4470
- Take Profit: 4700 (initial), 4800+ on continuation
BTC/USD
Current Price: 78892.05
Bitcoin continued its impressive run today, closing near 79k with solid volume and momentum. The long-term bull structure is stronger than ever, and these steady grinds higher after big moves often set up even larger rallies. Crypto is feeding on itself now that resistance has cleared — I’m staying firmly bullish here.
Signal Summary:
- Bias: Strongly bullish
- Entry: Buy 78400–79000 range
- Stop Loss: 76000
- Take Profit: 81000 (initial), 84000+ on continuation
Summary Table – May 4, 2026 Signals
| Asset | Current Price | Trend Bias | Signal | Entry Point | Stop Loss | Take Profit |
|---|---|---|---|---|---|---|
| EUR/USD | 1.1707 | Bullish | Buy | 1.1680–1.1710 | 1.1635 | 1.1820 / 1.1890 |
| GBP/USD | 1.3545 | Bullish | Buy | 1.3510–1.3550 | 1.3450 | 1.3700 / 1.3780 |
| USD/JPY | 157.06 | Neutral to bearish | Sell near resistance | 158.50–159.00 | 160.00 | 156.00 / 154.50 |
| Gold (XAU/USD) | 4561.55 | Bullish on dips | Buy | 4530–4570 | 4470 | 4700 / 4800+ |
| BTC/USD | 78892.05 | Strongly bullish | Buy | 78400–79000 | 76000 | 81000 / 84000+ |
That’s my honest outlook for May 4th. Risk appetite is clearly back in the driver’s seat while the dollar takes a small step back. Gold and Bitcoin both look strong on this setup. Keep your risk tight, watch those key levels closely, and good luck heading into the rest of the week. Feel free to share your own thoughts below!
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Disclaimer: These forex trading signals are for educational purposes only and not financial advice. Trading carries significant risks, including the potential loss of your entire investment. Always consult a professional advisor before jumping in.