EURUSD
Be extra careful with trading today as the NFP and unemployment levels will have a major impact on the Forex market.
4 hour EURUSD:
If further downside occurs then the wave 5 (dark red) would become extended. Breakouts (red arrows) could occur below support (purple trend line) down towards the Fibonacci targets.
60 min EURUSD:
GBPUSD
A bearish wave 3 (magenta) could potentially translate into a decline towards the 161.8% or 261.8% Fibonacci targets. The latter is equal to the weekly bottom (green line).
4 hour GBPUSD:
This week’s bearishness is creating an extended 5th wave (dark red) of wave 3 (magenta).
60 min GBPUSD:
USDJPY
The burst of price momentum stopped at the resistance trend line (purple) and Fibonacci target.
4 hour USDJPY:
A potential 5 (purple) could occur today or next week.
60 min USDJPY:
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EUR/USD holds gains near 1.0650 amid risk reset
EUR/USD is holding onto its recovery mode near 1.0650 in European trading on Friday. A recovery in risk sentiment is helping the pair, as the safe-haven US Dollar pares gains. Earlier today, reports of an Israeli strike inside Iran spooked markets.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD is rebounding toward 1.2450 in early Europe on Friday, having tested 1.2400 after the UK Retail Sales volumes stagnated again in March, The pair recovers in tandem with risk sentiment, as traders take account of the likely Israel's missile strikes on Iran.
Gold price defends gains below $2,400 as geopolitical risks linger
Gold price is trading below $2,400 in European trading on Friday, holding its retreat from a fresh five-day high of $2,418. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row, supported by lingering Middle East geopolitical risks.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
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Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.