A rising trend of higher daily lows and highs and improving sentiment above the 50 & 100 day average rates have kept this week’s signals pointing higher. These are so far being confirmed as Tuesday extended the trend with a gain of ½ Big Fig and a fresh 2 ½ month high at 108.90. While this is positive prices are testing their 200 day line and until this level is clearly broken the outlook for Wednesday remains just cautiously bullish and the call is to buy modestly on the open and then at 108.40, Tuesday’s opening trade with a stop loss at 108.03, this week’s base. Targets are to 108.83/88, today’s Asia high, 109.07, the 200 day line and 109.32, August’s top.
Demand Dominates
Any opinions, news, research, analysis, prices, trade recommendations or other information is provided as general market commentary and for educational purposes, and does not constitute investment advice. Any statements about profits or income, expressed or implied, do not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profits or losses, and agree to hold 3CAnalysis.com and any authorized distributors of this information harmless in any and all ways. 3CAnalysis.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Forex, Futures, Stock, and/or Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex, Futures, Stock, and/or Options markets. The information contained in these pages is neither a solicitation nor an offer to Buy/Sell Currencies, Futures, Stock, or Options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed.
Please also note that 3cAnalysis does not perform any regulated activities and does not report to any regulator.
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.