Despite last week's pullback from 1.1340 EUR is still preserving bullish outlook. Currently we are still above the Daily Senkou Span A price of the positive cloud which for the moment serves as support line. As we don't have any EUR positive news this week it is more likely the price to continue to move along with the Senkou Span A Daily price till Thursday at least or extend to Friday too.GOLD makes a downside correction which has started last week and is still not finished. Target area is around 1200 where we shall encounter the huge positive Daily Ichimoku cloud which is likely to bounce the price back to the upside. Until this happens the price will float slightly above 1200.NZD is in a sideways trade mode between 0.6655 and 0.6700. The test area will be 0.6650 and if it fails, next support is at 0.6610 which i expect to hold. Upside will be restored on Daily close above 0.6735.AUD develops a correction at the moment but still the bullish outlook is not affected. But below 0.7470 you'd be better quit LONG positions here as downside power may increase quickly. Upside may be restored only on a Daily close above 0.7550. We have an intermediate support at 0.7390 And the main support is at 0.7300 which will not be broken this week.JPY has lost some positions during last week against the dollar, but the downside is far from over. This is juast an upside correction and is a good moment to enter Short at a better price. Target is set at 114.50, this is also the Short entry point or somewhere around. You have to place SL too at 116.00 for example. First short target is 112.70 and then 111.60.GBP didn't succeed in breaking the noth so big Daily Ichimocu cloud and the price went down once again last week. Indicators here show much downside possibility than another upside recovery. We have a very strong upside resistance at 1.4260 and it is a good idea to enter Short somewhere around and don't forget the SL at about 30-40 pips.RUB continues to tes 67.00 major support but i am not sure it will succeed soon. We are in a sideways consolidation between 68.70 and 66.00. Breaking of either will increase the power in same direction. I think we shall go first to the upside again and by the end of April will test the support once again.For today:SHORT EUR below 1.1190 SL 1.1210 TP 1.1150-1.1110-1.1060LONG EUR above 1.1215 SL 1.1190 TP 1.1270-1.1310-1.1360SHORT GOLD below 1216 SL 1219 TP 1208-1204-1198LONG GOLD above 1245 SL 1243 TP1256-1262-1268
Good luck!

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD edges lower toward 1.0700 post-US PCE

EUR/USD edges lower toward 1.0700 post-US PCE

EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.

EUR/USD News

GBP/USD retreats to 1.2500 on renewed USD strength

GBP/USD retreats to 1.2500 on renewed USD strength

GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.

GBP/USD News

Gold struggles to hold above $2,350 following US inflation

Gold struggles to hold above $2,350 following US inflation

Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses. 

Gold News

Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium

Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000

Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors. 

Read more

Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too

Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too

Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.

Read more

Majors

Cryptocurrencies

Signatures