Week Ahead 22nd-26th April: Highlights include US PCE & GDP, BoJ, PMI data
FULL PREVIEWS AND ANALYSIS
Week Ahead 22nd-26th April: Highlights include US PCE & GDP, BoJ, PMI data
EURUSD Daily
Resistance at 1.07000 – If holds , we’ll have the Downtrend speeding up
Support at 1.05900 – if Taken out, the road will be open for attack at first 1.05450, then comes 1.04900 and finally The Last line of Defence at 1.04150.
GBPUSD WEEKLY CHART – MOMENTUM BUILDS ON DOIWNSIDE BREAKDOWN
GBPUSD breakdown below 1.2499 saw a late end-of-the-week nosedive as shifting interest rate cut expectations weighed on it.
Note my post on Friday about EURGBP pressuring GBP down.
As you can see on this chart there is a void of key levels until just above 1.20. This leaves the most recent low as the nearest support.
Resistance starts around 1.2400-10 with a bear bias as long as it trades below 1.2499.
UsdChf is the 50% spot in my algo is 9080 and it is Friday so unless the market decides it should accelerate the selling again a bit later to not make the mistake of being behind the curve Monday the pair is likely to finish the week around there (likely closer to 9100). My hope is the less boring version.
For novices in this, here is what it is like to actively get into the volatility I was involved in when UsdChf and UsdJpy so aggressively sold off while globally the same volatility occurred on a massive scale across markets. I sold at the top in both pairs in Asia before it hit. I did very handsomely and got out. I thought it was a consortium of entities intervening and found out quickly after it was the military strike. I hit a retracement and did ok. I hit again but it was near the lows and paid for it on a very significant pull back that is very not normal in scope or speed and coughed up a portion of the gains unnecessarily before going “flat.” Balanced intent matters in such conditions.
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