Trading plan for the GBP/USD pair for the week of April 12-16. New COT (Commitments of Traders) report.
Trading plan for the GBP/USD pair for the week of April 12-16. New COT (Commitments of Traders) report.
The pound resumed its decline, however, it is very weak. The fundamental background for the pound/dollar pair is now very contradictory.
Forex Analysis & Reviews
Trading plan for the EUR/USD pair for the week of April 12-16. New COT (Commitments of Traders) report.
Janet Yellen's week. The US Treasury Secretary did everything to ensure that the US currency resumed its decline.
Gold price finds it difficult to break above $1,755-60 horizontal resistance
Gold bulls have managed to recapture the $1,720-40 level and this was an important win for them in the battle to approach $1,800 again. Price has now stopped and has showed rejection signs at the horizontal resistance of $1,755-60.
Short-term bullish channel remains intact in EURUSD
EURUSD is trading around 1.19 and despite being a positive week, there seems to be no profit taking by bulls. This could be bullish for next week as price continues to trade inside the short-term bullish channel.
USDCAD rejected at resistance
USDCAD is still inside the medium-term downward sloping wedge pattern. Price got rejected this week at the upper wedge boundary and resistance at 1.26 and is now trading at 1.2532. Price is vulnerable to a move towards the lower wedge boundary as long as price trades below 1.26-1.2650.
April 9, 2021 : GBP/USD Intraday technical analysis and trade recommendations.
Short-term outlook has turned into bearish after the GBP/USD pair could maintain movement below the price zone of 1.3820-1.3900 which corresponded to (61.8%-50%) Fibonacci zone.
The recent bullish trial for retesting should have given a valid SELL Entry as suggested in previous article.
April 9, 2021 : EUR/USD Intraday technical analysis and trade recommendations.
Around 1.1690, a high probability bullish trade could be taken around it, a bullish pullback should be expected towards 1.1850.
The current bullish pullback towards the price zone of 1.1850-1.1880 should be considered for bearish rejection and a valid SELL ENTRY.
April 9, 2021 : EUR/USD daily technical review and trade recommendations.
Recently, as the price zone of 1.1700-1.1720 was being challenged, an upside pullback was expected to pursue towards 1.1840 which failed to provide sufficient bearish pressure.
The current Upside breakout above 1.1840 can enhance further movement towards 1.1990 where selling pressure maybe.
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When will gold start to rise again?
Gold continues to disappoint investors and traders, but the outgoing week leaves us hopes for a recovery in the price of the precious metal in the second half of 2021.
Technical Analysis of EUR/USD for April 09, 2021
As expected the EUR/USD pair continues to move upwards from the areas of 1.1869 and 1.1850. The EUR/USD pair broke resistance at 1.1834 which turned into strong support yesterday.
European stock market ends week at record highs
European stock indices were trading mixed today but closed the session near record highs. Investors hope that large-scale fiscal stimulus measures as well as coronavirus vaccinations will prompt a sustainable recovery of the European economy.
Trading Signal for BITCOIN BTC/USD, for April 09 - 12, 2021: Key level 60,000
Many operators are waiting for the next movement of the BTC, although the market sentiment means that little by little the operators are liquidating their bullish positions.
Technical Analysis of GBP/USD for April 09, 2021
The GBP/USD pair faced resistance at the level of 1.3764, while minor resistance is seen at 1.3794. Support is found at the levels of 1.3667 and 1.3612.
Trading Signal for Nasdaq #NDX for April 09 - 12, 2021: Downward correction
Our recommendation is to sell below 13,685 or if there is a pullback towards the 13,775 area, as long as it does not exceed the 21 SMA there is a possibility of a downward correction.
Trading Signal for EUR/USD for April 09 - 12, 2021: Sell below 1.1901
For the next few hours, 1.1880 where the 21 SMA is, it is a dynamic support to take into account. If it bounces above this level, the euro will regain upward strength. While a breakout...
What future has in store for EUR/USD
As for the euro's attempts to recoup losses this week, they may turn out to be false. At the beginning of April, the price is moving against the trends..
Technical analysis recommendations for EUR/USD and GBP/USD on April 9, 2021
The bears failed to confirm the rebound from the met resistance, but the opponent managed to close the day above the level of 1.1886. Today, the final level of the day
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