EUR/USD: perfect doji in directionless trade


EUR/USD Current price: 1.3462

View Live Chart for the EUR/USD
e

A higher high, and a lower low were posted in the EUR/USD, but the daily range did not overcame 50 pips. In fact, the daily candle is almost a doji, with almost no body to show. For the first time in the week, there was interesting data with European one surprising to the upside: local PMIs resulted stronger than expected, main reason beyond the daily high of 1.3485, while US figures were for the most disappointing, with US manufacturing PMIs down to 56.3 and New Home sales also missing expectations. However, dollar edged higher against most rivals, supported by a bounce on US 10Ynotes yields. 

Technically, there are no much directional signs for the EUR/USD with the recovery shy of 1.3500; the hourly chart presents a mild negative tone, with momentum heading lower near its midline and price steady around a flat 20 SMA. In the 4 hours chart 20 SMA capped the upside, offering now dynamic resistance in the 1.3475 area, while momentum aims higher still below its midline. A corrective movement may surge on steady gains above 1.3500, thus approaches to 1.3570 should been seen as selling opportunities following the dominant trend. 

Support levels: 1.3445 1.3410 1.3380

Resistance levels: 1.3475 1.3500 1.3535 

EUR/JPY Current price: 137.08

View Live Chart for the EUR/JPY
ey
Yen weaned against its rivals, with the EUR/JPY recovering above the 137.00 mid US afternoon, and holding ground early Asian session. The hourly chart shows RSI turning lower and pointing for  a downward correction, but momentum maintains the bullish tone while price trades between 100 and 200 SMAs, this last a few pips above current price. In the 4 hours chart a mild positive tone prevails albeit below 136.90 chances will turn back towards the downside.

Support levels: 136.90 136.60 136.20 

Resistance levels: 137.50 137.90 138.40

GBP/USD Current price: 1.6983

View Live Chart for the GBP/USD
g
Retail Sales in the UK weighted on Pound crosses, with the GBP/USD pointing to close the day below the 1.70 figure, first time in a month. The hourly chart shows indicators corrected oversold readings but turned back south well into negative territory, while 20 SMA extended its decline and stands now around 1.7010. In the 4 hours chart indicators present a clear bearish tone with price extending below its 200 EMA, all of which supports further downward moves. 

Support levels: 1.6950 1.6920 1.6870

Resistance levels: 1.7020 1.7055 1.7095 

USD/JPY Current price: 101.82

View Live Chart for the USD/JPY
y
The UD/JPY finally managed to overcome the 101.60 level, accelerating higher once stops got out of the way. The pair stalled a few pips below critical resistance around 101.95, 200 DMA. In the short term, the hourly chart shows a strong upward momentum despite RSI stands in overbought territory. Price stands well above moving averages, but 200 one stands above 100 one, which fails to confirm the upward potential. In the 4 hours chart indicators are slightly exhausted to the upside but still in positive territory. Some follow through above 101.95, may see the pair extending the upside up to 102.80 next strong midterm resistance.

Support levels: 101.60 101.20 101.05 

Resistance levels: 101.95 102.35 102.80

AUD/USD Current price: 0.9416

View Live Chart for the AUD/USD
a
The AUD/USD retreated from a multi-week high of 0.9475 reached over Asian session following RBNZ decision to shift its economic policy to neutral after rising rates for another 0.25% up to 3.50%. Aussie demand eased however as the pair approached to the year high of 0.9500, and trades now below 0.9420 static resistance level. The hourly chart shows a mild bearish tone, with indicators flat in negative territory and price below its 20 SMA, while the 4 hours chart shows price finding now support at 0.9410, 20 SMA as indicators turn lower from overbought readings. Still not clear, some recovery above 0.9420 should see price returning towards recent highs, while below mentioned 20 SMA, price will likely look for a test of 0.9370 in the short term.

Support levels: 0.9370 0.9330 0.9300

Resistance levels: 0.9420 0.9460 0.9500 

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD stabilizes near 1.0800 as trading action turns subdued

EUR/USD stabilizes near 1.0800 as trading action turns subdued

EUR/USD holds steady near 1.0800 on Thursday and remains on track to end the day in negative territory following upbeat macroeconomic data releases from the US. The action in financial markets turn subdued as trading volumes thin out heading into Easter holiday.

EUR/USD News

GBP/USD extends sideways grind above 1.2600

GBP/USD extends sideways grind above 1.2600

GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth help the USD stay resilient against its rivals and limits the pair's upside.

GBP/USD News

Gold pulls away from daily highs, holds above $2,200

Gold pulls away from daily highs, holds above $2,200

Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.

Gold News

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase. 

Read more

Portfolio rebalancing and reflation trades emerge into Q2

Portfolio rebalancing and reflation trades emerge into Q2

Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.

Read more

Majors

Cryptocurrencies

Signatures