AUD/USD remains above 0.6300, despite stepping back from the monthly high of 0.6363 to currently around 0.6330, at the start of Friday’s Asian session. Markets in Australia/US are closed for Good Friday, Chinese markets are up with March month inflation data on the cards.
USD/JPY consolidates gains above the 108.00 figure. The level to beat for buyers is the 109.50 resistance. USD/JPY bull trend stays intact as the spot trades above the 108.00 handle and the 50/200 SMAs on the four chart.
The S&P 500 index has recovered around half the losses it suffered due to the coronavirus pandemic. Is bad news priced in? How much credit does the Federal Reserve deserve? Where next for equities?
Despite probing the multi-year high, marked on Thursday, Gold prices near the key resistances while taking rounds to $1,685 at the start of Friday’s Asian session. The Good Friday holidays in major markets are expected to limit the yellow metal’s moves.
While stepping back from 50-day SMA, BTC/USD takes rounds to 7,305 amid early Friday. Even so, the crypto leader stays inside the rising wedge bearish technical formation. Hence, sellers will wait for the confirmation of the bearish technical ...
Ripple remains in a bullish trend on the 4-hour chart below. The price continues to make higher highs and higher lows but it seems the bulls have stalled at 0.20. That is noticeable on the volume ...
Monero is having another positive session despite stalling at the psychological 60.00 level. The chart is still a bullish one with the pair continuing to make higher lows and higher highs.
TRON has been on quite the run since hitting the swing low on March 13th but now it seems the altcoin has run into some problems. This wave of higher lows and higher highs could come to an end as the price stalled at the 55 exponential moving average.
SPECIAL WEEKLY FORECAST
As expected, the shared currency strength didn’t last long. The EUR/USD pair resumed its decline these last few days, piercing the 1.0800 threshold by the end of the week.
Pound/dollar volatility is at Brexit levels – not as wild as throughout March but still highly elevated. Coronavirus health and economic developments are likely to continue dominating trading, with several US developments set to have their say as well.
The USD/JPY finished higher on the week, though it remains well below its peaks of mid and late March, as moderate risk aversion still orders markets. From Wednesday’s low of 106.92 the pair rose on Thursday and Friday to the high close at 108.54.
The thrill is gone – AIUD/USD's sugar rush, fueled by monetary and fiscal stimulus, faded out. As COVID-19 continues spreading around the world, the mood soured, and the risk-off sentiment is weighing on the Aussie.
Most part of the week Bitcoin has been on the recovery path. Slowly but surely the coin left $6,500 behind and even tested waters above $7,000. However, the buyers failed to develop an upside momentum above the critical resistance and the coin returned to $6,900.
Gold prices are heading into the close with modest weekly losses, with spot gold steady above $1,600 a troy ounce. The commodity eased throughout the first half of the week, amid persistent demand for the greenback and the better performance of equities.
GBP/USD has been edging higher amid a more upbeat market mood and as UK Prime Minister Boris Johnson's condition has improved after the third night in intensive care. How is cable positioned on the technical chart?
The Technical Confluences Indicator is showing that pound/dollar is trading within a range between 1.2376 to 1.2388, which is a cluster of lines including the Simple Moving average 5-4h, the Bollinger Band 1h-Middle, the Fibonacci 38.2% one-day, and the Fibonacci 61.8% one-week.
Looking up, the first target is 1.2427, which is the convergence of the BB 1h-Upper, the BB 4h-Upper, and the Pivot Point one-week Resistance 1.
The next cap is at 1.2479, which is the previous week's high, followed by 1.2517, where the Fibonacci 61.8% one-month hits the price.
Support awaits at 1.2350, which is the confluence of the BB 1h-Lower, the SMA 50-4h, the SMA 10-one-day, and the Fibonacci 61.8% one-day.
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