EURUSD

The Euro continues to move higher and approaches psychological 1.13 barrier, following yesterday’s post-Fed strong rally that generated strong bullish signal after leaving long bullish daily candle.
The pair accelerated higher from strong support zone above 200SMA, where it found footstep.
Break above former top at 1216 and extension above 1.1244 (Fibo 76.4% of 1.1374/1.0820 descend), is looking for full retracement of the downleg, as no significant barriers are seen en-route to 1.1374 (11Feb high) and key near-term resistance.
Rising daily Ichimoku cloud continues to underpin, together with firm bullish setup of daily MA’s and north-heading Indicators.
Overbought Slow Stochastic suggests consolidation before final push to 1.1374 target, however, no bearish signal being generated yet.
Former high at 1.1216 and session low hourly higher base at 1.1204, mark initial supports.


Res: 1.1300; 1.1332; 1.1374; 1.1400
Sup: 1.1240; 1.1216; 1.1204; 1.1150

eurusd




GBPUSD

Cable left long-tailed bullish candle on yesterday’s strong rally on dovish Fed. The pair bounced from daily low at 1.4051, where strong Fibo 61.8% of 1.3834/1.4434 upleg contained pullback.
Today’s fresh acceleration higher that commenced from 1.4220 (session low / hourly higher base), probes above Fibo 61.8% of 1.4434/1.4051 downleg, with sustained break higher, needed to open key barriers at 1.4392 (daily Ichimoku cloud base) and 1.4434 (former high of 11 Mar).
Near-term studies are bullish, however, mixed setup on daily chart, still requires caution. Sustained break above 1.43 barrier, would bring more positive signals, otherwise, downside risk will remain in play.
Correction on overbought near-term studies, should be ideally contained at 1.4220/00 zone (reinforced by daily Kijun-sen line) to keep near-term bulls intact.
Extended easing and close below daily 20SMA at 1.4147, will signal lower top and shift focus lower.

Res: 1.4310; 1.4344; 1.4400; 1.4434
Sup: 1.4270; 1.4220; 1.4200; 1.4147

gbpusd




USDCAD

Loonie returned to strength and posts fresh five-month lows, after dollar–negative Fed’s decision pushed the pair lower. Yesterday’s strong bearish close, confirmed an end of near-term consolidation, which made few unsuccessful attempts above 200SMA at 1.3313.
Today’s fresh extension of weakness that commenced from 1.3403 (yesterday’s high), eventually broke below psychological 1.3000 support and Fibonacci 61.8% of larger 1.1979/1.4688 rally at 1.2976, eyeing weekly Ichimoku cloud top at 1.2869 and key med-term support and target at 1.2829 (15 Oct 2015 trough).
Daily close below 1.2976 (Fibo 61.8%) is needed to confirm bearish resumption.
Session high at 1.3130 marks initial resistance, followed by former consolidation floor at 1.3166. Extended upside attempts should hold below falling daily 10SMA at 1.3252, which also formed Death Cross pattern, re-affirming overall bears.

Res: 1.3000; 1.3090; 1.3130; 1.3166
Sup : 1.2943; 1.2900; 1.2869; 1.2829

usdcad



AUDUSD

Aussie benefited from weaker greenback and rallied above psychological 0.76 barrier, in extension of yesterday’s rally from 0.7412, where two-day pullback found support.
Extended wave C that commenced from 0.6972 trough, met its target at 0.7650, double-Fibonacci resistance (Fibo 161.8% expansion / Fibo 61.8% retracement of 0.8161/0.6825 descend) and is capable of travelling to 0.7711 and 0.7810 (FE 176.4% and 200%) respectively.
Firm bullish setup of daily technicals, supports the notion, with overbought conditions on lower timeframes, suggesting consolidation of strong rally.
Initial support lies at 0.7600, followed by hourly trough at 0.7579 and session low at 0.7531. Extended dips should be contained by rising 10SMA at 0.7497.

Res: 0.7650; 0.7711; 0.7810; 0.7900
Sup: 0.7600; 0.7579; 0.7531; 0.7497

audusd

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


Recommended Content

Editors’ Picks

AUD/USD holds above 0.6500 in thin trading

AUD/USD holds above 0.6500 in thin trading

The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.

AUD/USD News

EUR/USD comfortable below 1.0800 lower lows at sight

EUR/USD comfortable below 1.0800 lower lows at sight

The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.

EUR/USD News

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.

Gold News

Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales

Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales

Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.

Read more

Bears have been standing before a steamroller so far this year

Bears have been standing before a steamroller so far this year

Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.

Read more

Majors

Cryptocurrencies

Signatures