In today’s Trader’s Edge Market Briefing, Tomasz found these unique setups that we thought you’d find interesting.
Markets are calmer today compared with Monday, but we can still find a few decent trading occasions
The dollar remains strong, and the Dollar Index is flirting with new long-term highs
EURUSD experiencing huge selling pressure, testing the lower line of the channel down for the third consecutive day
The stronger USD is pulling commodities down – oil and gold are close to long-term lows
GBPUSD has stopped its sharp drop around 700 pips above parity
USDJPY is flirting with a horizontal resistance, which is slightly below the 145 resistance. Gone is the whole intervention by the BoJ. A breakout above the 145 will give us a proper buy signal
SP500 drops below a key support on the 3645 points
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EUR/USD trades weak below 1.0800 amid Good Friday lull, ahead of US PCE
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair keenly awaits the US PCE inflation data and Fed Chair Powell's speech for fresh hints on next week's price action.
GBP/USD holds steady above 1.2600 as markets stay calm on Good Friday
GBP/USD trades sideways above 1.2600 amid a typical Good Friday trading lull. A broadly firmer US Dollar could keep any upside attempts limited in the pair ahead of the US PCE inflation data and Fed Chair Powell's appearance.
Gold reaches to all-time highs near $2,230, US PCE eyed
Gold price appreciates to all-time highs near $2,230 per troy ounce, attempting to continue its winning streak for the fifth successive session on Friday. However, trading volumes are light as market participants are likely observing Good Friday.
Jito price could hit $6 as JTO coils up inside this bullish pattern
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Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.