Slobodan Drvenica
Windsor Brokers
EURUSD
The Euro trades in choppy mode, ahead of today’s US jobs data, with near-term tone being negatively aligned. The pair is attempting again at 200SMA, following yesterday’s false break lower and daily close above 200SMA. Yesterday’s dips were contained by daily 100SMA at 1.1133, the last obstacle on the way to key 1.11/1.1086 supports and breakpoint zone. Falling daily 10SMA limits the upside for now at 1.12 zone, guarding pivotal daily 20SMA at 1.1235 and daily Ichimoku cloud base at 1.1260, levels that mark upside breakpoints.
Res: 1.1205; 1.1235; 1.1260; 1.1295
Sup: 1.1161; 1.1133; 1.1105; 1.1086
GBPUSD
Cable consolidates above fresh lows at 1.5105, where hourly base is forming. Near-term sideways mode is confirmed by yesterday’s long-legged Doji, with limited upside attempts, seen as preferred scenario, ahead of fresh push lower. Hourly Ichimoku cloud top at 1.5158, marks initial resistance and remains intact for now, guarding yesterday’s recovery peak at 1.5178. Daily slow stochastic remains in oversold zone and reversal higher would be seen as recovery signal.
Extended recovery above 1.5178, would expose next strong barrier at 1.5225, falling daily 10SMA. Near-term breakpoint zone lies at 1.5315/25, Fibonacci 38.2% of 1.5656/1.5105 / 10/200SMA’s death cross and formation of 20/200SMA’s death cross and only regain of these levels would neutralize immediate attempts towards 1.5085, Fibonacci 61.8% retracement of Apr/June1.4563/1.5928 rally and psychological 1.5000 support.
Res: 1.5158; 1.5178; 1.5212; 1.5225
Sup: 1.5123; 1.5105; 1.5085; 1.5000
USDJPY
The pair remains within the triangle, trading in narrowing range, with yesterday’s repeated Doji, confirming indecision. Triangle’s upper border lies at 120.27, guarding daily Ichimoku cloud, which spans between 120.52 and 120.70 and 200SMA at 120.86, with sustained break higher, needed to give positive signal for final break above short-term congestion. On the downside, triangle’s support line lies at 119.45 and marks the lower pivot.
Res: 120.13; 120.27; 120.52; 120.70
Sup: 119.75; 119.45; 119.23; 119.05
AUDUSD
The pair consolidates above 0.7000 support, where pullback from yesterday’s recovery rejection at 0.7083, found footstep. Near-term technicals are in neutral mode, with rallies being limited by daily 20SMA, break of which to signal fresh recovery off 0.6935 double-bottom. However, overall structure remains bearish and sees limited upside attempts for now, with yesterday’s high at 0.7083 and 4-hour Ichimoku cloud top at 0.7107, marking next pivotal barriers. On the downside, psychological 0.7000 support zone marks lower pivot and sustained break here would bring near-term bears back to play.
Res: 0.7061; 0.7083; 0.7107; 0.7147
Sup: 0.7010; 0.6996; 0.6970; 0.6935
The Euro trades in choppy mode, ahead of today’s US jobs data, with near-term tone being negatively aligned. The pair is attempting again at 200SMA, following yesterday’s false break lower and daily close above 200SMA. Yesterday’s dips were contained by daily 100SMA at 1.1133, the last obstacle on the way to key 1.11/1.1086 supports and breakpoint zone. Falling daily 10SMA limits the upside for now at 1.12 zone, guarding pivotal daily 20SMA at 1.1235 and daily Ichimoku cloud base at 1.1260, levels that mark upside breakpoints.
Res: 1.1205; 1.1235; 1.1260; 1.1295
Sup: 1.1161; 1.1133; 1.1105; 1.1086
GBPUSD
Cable consolidates above fresh lows at 1.5105, where hourly base is forming. Near-term sideways mode is confirmed by yesterday’s long-legged Doji, with limited upside attempts, seen as preferred scenario, ahead of fresh push lower. Hourly Ichimoku cloud top at 1.5158, marks initial resistance and remains intact for now, guarding yesterday’s recovery peak at 1.5178. Daily slow stochastic remains in oversold zone and reversal higher would be seen as recovery signal.
Extended recovery above 1.5178, would expose next strong barrier at 1.5225, falling daily 10SMA. Near-term breakpoint zone lies at 1.5315/25, Fibonacci 38.2% of 1.5656/1.5105 / 10/200SMA’s death cross and formation of 20/200SMA’s death cross and only regain of these levels would neutralize immediate attempts towards 1.5085, Fibonacci 61.8% retracement of Apr/June1.4563/1.5928 rally and psychological 1.5000 support.
Res: 1.5158; 1.5178; 1.5212; 1.5225
Sup: 1.5123; 1.5105; 1.5085; 1.5000
USDJPY
The pair remains within the triangle, trading in narrowing range, with yesterday’s repeated Doji, confirming indecision. Triangle’s upper border lies at 120.27, guarding daily Ichimoku cloud, which spans between 120.52 and 120.70 and 200SMA at 120.86, with sustained break higher, needed to give positive signal for final break above short-term congestion. On the downside, triangle’s support line lies at 119.45 and marks the lower pivot.
Res: 120.13; 120.27; 120.52; 120.70
Sup: 119.75; 119.45; 119.23; 119.05
AUDUSD
The pair consolidates above 0.7000 support, where pullback from yesterday’s recovery rejection at 0.7083, found footstep. Near-term technicals are in neutral mode, with rallies being limited by daily 20SMA, break of which to signal fresh recovery off 0.6935 double-bottom. However, overall structure remains bearish and sees limited upside attempts for now, with yesterday’s high at 0.7083 and 4-hour Ichimoku cloud top at 0.7107, marking next pivotal barriers. On the downside, psychological 0.7000 support zone marks lower pivot and sustained break here would bring near-term bears back to play.
Res: 0.7061; 0.7083; 0.7107; 0.7147
Sup: 0.7010; 0.6996; 0.6970; 0.6935
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
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
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
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.