Main scenario of currency pair movement
The pair is being traded in flat, the price has broken through the descending cloud and yesterday's forecast has proved to be right, then the pair moved downwards and broke through the same cloud from top downward, however the price did not manage to get fixed below it, the further ascending movement is being forecast. One should buy the pair from the 1,3808 support level, set take profit at the 1,3820, 1,3831, 1,3849 resistance levels.
Alternative scenario of currency pair movement
In case the pair manages to breakthrough and get fixed below the descending cloud, then the further descending movement till the 1,3786 support level is possible.
LEVELS
Resistance: 1,3820; 1,3831; 1,3849.
Support: 1,3808; 1,3802; 1,3786.
Recommended Content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.