The following are the intraday outlooks for EUR/USD, USD/JPY, USD/CAD, and NZD/USD as provided by the technical strategy team at SEB Group.
EUR/USD: Waiting game. Direction stalled market in the starting blocks for ECB tomorrow and it's doubtful that a move outside the 1.1530/1.1650 parameters has sustainable chance without Draghi's signal. Current intraday stretches are located at 1.1510 & 1.1625.
USD/JPY: U-turning a target & resistance. Few are willing to play over the odds here...The high-118s worked as the strong resistance it was thought to. If today's U-turn survives the morning session, extension would be likely back to the 116.92 ref - under which a fresh low (<115.84) should be accounted for. Current intraday stretches are located at 117.40 & 119.15.
USD/CAD: Going bid into BoC today. Players apparently put their wagers on a soft message from the BoC later today. A solidly bullish candle broke into and then with targets at 1.2175 & 1.2285 to fill. The intraday stretch could be dealt with through a mid-body (1.2030) re-test. More support likely around 1.1960/25.
NZD/USD: Ready to take a dive? Since the exit of the rising 2012 channel/triangle the market has reluctantly been drifting lower but without much downside progress made. After tonight's lower than expected CPI figures a third test of the important 0.7609/19 support is taking place and if succeeding in breaking and closing below it will most likely kick off a new impulsive down-phase. Such a break could see the pair rapidly dropping down to 0.7371, the confirmation point for the large potential double top formation.
'This content has been provided under specific arrangement with eFXnews.'
eFXnews is a financial news and information service. Articles and other information distributed in this service and published on this site are provided in general terms and do not take account of or address any individual user's position. To the extent that some of these articles include suggestions as to various possible investment strategies which users might consider, they do so in only general terms without reference to the personal factors which should determine any user's investment decisions to buy or sell a specific security or currency.
The service and the content of this site are provided and distributed on the basis of “AS IS” without warranties of any kind either, express or implied, including without limitations, warranties of title or implied warranties of merchantability or fitness for a particular purpose. eFXnews and its employees, officers, directors, agents, and licensors do not also warrant the accuracy, completeness or timeliness of the information in any of the articles and other information distributed in this service and included on this site, and eFXnews hereby disclaims any such express or implied warranties; and, you hereby acknowledge that use of the service and the content of this site is at you sole risk.
In no event shall eFXnews and its employees, officers, directors, agents, and licensors will be liable to you or any third party or anyone else for any decision made or action taken by you in your reliance on any strategy and/or advice included in any article and other information distributed in this service and published in this site.
Recommended Content
Editors’ Picks
EUR/USD advances to near 1.0750 as risk appetite regains balance
EUR/USD extends its winning streak for the third successful day, trading around 1.0730 during the Asian session on Friday. The risk-sensitive currencies like the Euro gain ground as risk appetite regains balance ahead of US Nonfarm Payrolls.
GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2540 amid the softer US Dollar on Friday. The US Federal Reserve Chair Jerome Powell delivered a modest dovish message after the meeting on Wednesday, which weighs on the Greenback.
Gold lacks firm near-term direction, remains stuck in a range ahead of US NFP
Gold price struggles to gain any meaningful traction amid mixed fundamental cues. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support. Bets for a delayed Fed rate cut and a positive risk tone cap gains ahead of the US NFP.
Solana price pumps 7% as SOL-based POPCAT hits new ATH
Solana price is the biggest gainer among the crypto top 10, with nearly 10% in gains. The surge is ascribed to the growing popularity of projects launched atop the SOL blockchain, which have overtime posted remarkable success.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.