Trading plan for 13/04/2017
April 13, 2017 9:03 amVideo
Latest News
- Outlook for GBP/USD on April 16. Pound awaits inflation data April 16, 2024
- Outlook for EUR/USD on April 16. Another boring Monday April 16, 2024
- The euro hardly has a chance to rise April 16, 2024
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
- Technical Analysis – Goldman Sachs stock gains on strong earnings April 15, 2024
- Trading Signals for ETH/USD (Ethereum) for April 15-17, 2024: buy above $3,125 (200 EMA – 2/8 Murray) April 15, 2024
- Analysis for EUR/USD on April 15th. Monday – a tough day for the euro April 15, 2024
- GBP/USD: trading plan for the US session on April 15th (analysis of morning deals) April 15, 2024
- EUR/USD: trading plan for the US session on April 15th (analysis of morning deals). Euro is at an impasse April 15, 2024
- GBP/USD: Will sterling hold steady against dollar? April 15, 2024
- Technical Analysis – USDJPY rallies to another fresh 34-year high April 15, 2024
- Will Netflix earnings take the share price closer to its record highs? – Stock Markets April 15, 2024
- EUR/USD. April 15th. Bulls panic and retreat from the market April 15, 2024
- GBP/USD. April 15th. The dollar gains confidence April 15, 2024
- Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and the US Dollar Index April 15, 2024
Trading plan for 13/04/2017:
The US Dollar and US bond yields tumbled on Wednesday evening in response to President Donald Trump’s interview when he said that the Dollar is too strong and that he prefers low-interest rates. Geopolitical risks around North Korea remain in place, which is supported by nervous trading in the equity market. Gold is soaring, oil is in a correction mode. Chinese Shanghai Composite grows by 0.2% due to better trade data. The Japanese Nikkei dropped 0.6% today, followed by USD/JPY.
On Thursday 13th of April, the event calendar is not that busy with important news. Nevertheless, global investors will keep an eye on Bank of England Credit Conditions Survey data, Manufacturing Sales and New Houses Price Index data from Canada and PPI, Unemployment Claims and Prelim UoM Consumer Sentiment data from the US.
GBP/USD analysis for 13/04/2017:
The BoE Credit Conditions Survey data are scheduled for release at 08:30 am GMT. This survey for bank and non-bank lenders is an input to understand trends and developments in credit conditions in the UK. If the secured and unsecured lending to households, small businesses, non-financial corporations, and to non-bank financial firms is increasing, then the economy is expanding.
Let’s now take a look at the GBP/USD technical picture at the H4 timeframe. The market is trading just below the golden trendline resistance around the level of 1.2560. The market conditions start to look overbought, so any data worse than expected will act as a trigger for a correction towards the level of 1.2505.
USD/CAD analysis for 13/04/2017:
Canada’s Manufacturing Sales and New Home Price Index data are scheduled for release at 12:30 pm GMT. The Manufacturing Sales are expected to decrease -0.4% from 0.6% a month ago and New Home Price Index is expected to increase from 0.1% to 0.2%. Higher housing prices suggest stronger consumer demand and growth in the housing market, but the recent house price data from Canada, especially from Toronto area, might suggest that there is a growing house market bubble in progress.
Let’s now take a look at the USD/CAD technical picture at the H4 timeframe. The market is approaching the 61%Fibo at the level of 1.3184. The market conditions are starting to look oversold, but there is still no bearish divergence visible on momentum oscillator. The next technical support is seen at the level of 1.3210.
EUR/USD analysis for 13/04/2017:
The US PPI, the Unemployment Claims, and Prelim UoM Consumer Sentiment data are scheduled for release at 12:30 pm GMT. The situation on the US job market is still good, so the Unemployment Claims data are expected to hold the level of 242k after the last week reading of 230k. The sentiment indicator which is a measure of attitudes and expectations concerning both present and future economic conditions of 500 consumers, is expected to tick upward to the level of 97.1 points from 96.7 a month ago. The most important, however, is the PPI index, that is expected to decrease from 0.3% to 0.0% o a monthly basis. Any data lower than 0.0% would suggest the start of no inflationary pressure from producers.
Let’s now take a look at the EUR/USD technical picture at the H4 timeframe. The bulls have managed to break out above the golden trend line but were capped around the level of 1.0678 and now the market is moving back to the trading range. The next support is seen at the level of 1.0629 and any bounce above this level, triggered by better than expected data, might reach the next technical resistance at the level of 1.0705.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: