The Euro continues retreating. Overview for 02.04.2020

The Euro continues retreating. Overview for 02.04.2020

02.04.2020

On Thursday afternoon, the major currency pair is falling against the current background.

EURUSD is losing weight due to the same fundamental background. The current quote for the instrument is 1.0920.

The statistics published yesterday showed that the ADP Non-Farm Employment Change was -27K in March against the expected reading of -150K. Of course, the indicator was expected to decline but the fact that it just fell instead of plummeting is very positive.

We’d like to remind you that there is no direct correlation between reports from the ADP and the NFP (scheduled to be published on Friday), but the first report can really provide insight into what is happening in the labor market before they publish the second one.

The ISM Manufacturing PMI in the USA also weakened in March but just a little bit, from 50.1 points to 49.1 points. Market expectations were much worse, 44.9 points, that’s why the actual reading turned out to be pretty good. In March, the manufacturing capacity utilization rate in the USA was quite high but the April report is highly likely to show a significant decline.

Later in the evening, the USA is going to report on the Unemployment Claims, which might as well show numbers similar to the previous week. Market expectations imply 3.6M after the previous reading of 3.28M. It’s the entire service industry, which found itself out of work without consumers. However, EURUSD already knew about this, that’s why no dramatic reactions are expected.

Japanese Candlesticks Analysis 02.04.2020 (USDCAD, AUDUSD, USDCHF)

Japanese Candlesticks Analysis 02.04.2020 (USDCAD, AUDUSD, USDCHF)

02.04.2020

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming a Hammer pattern and reversing, USDCAD has tested the channel’s upside border. At the moment, the pair is still rebounding from the resistance level to the descending tendency. In this case, the downside target may be at 1.3920. at the same time, there might be another scenario, which implies that the instrument may re-test the channel’s upside border and grow towards 1.4327.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the pair continues the ascending tendency. After completing an Engulfing pattern near the rising channel’s downside border, AUDUSD is reversing. Later, the price may continue trading upwards to reach 0.6333. Still, the instrument may choose a different scenario and continue falling towards 0.6048.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the pair continues forming the ascending channel. By now, USDCHF has formed a Hammer pattern near the support level. The current situation suggests that after reversing the pair may reach 0.9777 to continue the ascending tendency. However, one shouldn’t ignore another scenario, according to which the instrument may fall towards 0.9530.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Fibonacci Retracements Analysis 02.04.2020 (AUDUSD, USDCAD)

Fibonacci Retracements Analysis 02.04.2020 (AUDUSD, USDCAD)

02.04.2020

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the ascending tendency is getting close to 61.8% fibo at 0.6237. Under the current circumstances, this level may be considered a defining point, because the pair has equal chances of both breakout and reversal. As a result, if this level is broken, the price may grow towards 76.0% fibo at 0.6404 or even the fractal high at 0.6684. Otherwise, AUDUSD may start a new descending wave to reach the low at 0.5506.

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the divergence made the pair reverse and start a new descending correction, which has already reached 23.6% and may later continue falling towards 38.2% and 50.0% fibo at 0.5943 and 0.5859 respectively. The resistance is the high at 0.6213.

AUDUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, USDCAD is forming the descending correctional channel, which has already reached 38.2% fibo. MACD lines are also directed downwards, thus indicating further decline towards 50.0% and 61.8% fibo at 1.3811 and 1.3610 respectively. The resistance is the high at 1.4668.

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the H1 chart, the convergence made the pair start a new local ascending correction, which has already reached 50.0% fibo. At the moment, the price is expected to fall to break the low at 1.3921 and then continue trading downwards to reach 1.3811. However, if the instrument rebounds from the low, a new rising wave may expand the correctional range up to 61.8% fibo at 1.4383.

USDCAD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Ichimoku Cloud Analysis 02.04.2020 (AUDUSD, USDCAD, NZDUSD)

Ichimoku Cloud Analysis 02.04.2020 (AUDUSD, USDCAD, NZDUSD)

02.04.2020

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6080; the instrument is moving above Ichimoku Cloud, thus indicating a bullish tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6005 and then resume moving upwards to reach 0.6485. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.5760. In this case, the pair may continue falling towards 0.5680.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.4163; the instrument is moving below Ichimoku Cloud, thus indicating a bearish tendency. The markets could indicate that the price may test the cloud’s downside border at 1.4175 and then resume moving downwards to reach 1.3665. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.4335. In this case, the pair may continue growing towards 1.4450.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.5938; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.5885 and then resume moving upwards to reach 0.6265. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.5695. In this case, the pair may continue falling towards 0.5605.

NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Forex Technical Analysis & Forecast 02.04.2020

Forex Technical Analysis & Forecast 02.04.2020

02.04.2020

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.0970 and failing to start a new growth, EURUSD has broken this level to the downside to reach 1.0909. Today, the pair may test this level once again and then resume trading upwards with the target at 1.0935.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues consolidating around 1.2343 without any particular direction. Possibly, today the pair may fall towards 1.2200 and then grow to return to 1.2343. If later the price breaks this range to the downside, the market may form a new descending structure towards 1.2055; if to the upside – resume trading upwards with the target at 1.2555.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After finishing the descending structure at 0.9600 and rebounding from this level to the upside, USDCHF is still trading upwards to reach 0.9696. After that, the instrument may start a new correction to return to 0.9600.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 107.37. the main scenario implies that the price may fall towards 106.16 and then correct to return to 107.37. Later, the market may resume trading downwards with the target at 105.75.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating not far from downside border. Possibly, today the pair may break 0.6066 downwards and then continue falling with the target at 0.5918. After that, the instrument may resume growing to return to 0.6066.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving below 79.16. According to the main scenario, the price is expected to form a new descending structure to break 77.67 and then continue trading downwards with the short-term target at 76.30.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD continues forming the fifth descending structure with the target at 1.3822. Today, the pair may reach 1.3900 and then resume growing to reach 1.4091. Later, the market may start another decline to reach the above-mentioned target.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still forming the descending wave towards 1578.78. Possibly, the pair may break this level and then continue falling to reach 1561.45. After that, the instrument may form one more ascending structure to test 1578.78 from below and then resume trading downwards with the target at 1551.50.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After completing the descending wave at 22.00, Brent is forming one more ascending structure towards 25.33, which may be followed by a new correction to reach 23.60. Later, the market may start another growth to break 25.33 and then continue trading upwards with the short-term target at 27.20.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 6100.00; it has already broken 6400.00. Possibly, the pair may form one more ascending structure towards 7000.00. After that, the instrument may correct to reach 6400.00 and then start a new growth with the target at 7600.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Murrey Math Lines 02.04.2020 (USDCHF, GOLD)

Murrey Math Lines 02.04.2020 (USDCHF, GOLD)

02.04.2020

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is trading above 7/8. In this case, the price is expected to continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may continue falling to reach the support at 6/8.

USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency towards 8/8 from the H4 chart.

USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is trading below 3/8. In this case, the price is expected to continue falling to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.

GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 1/8 from the H4 chart.

GOLD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

rfxsignals April 2, 2020 No Comments

DAILY FREE FOREX SIGNALS – 02-04-2020

EURGBP SELL: 0.88254
SL: 0.88527
TP1: 0.88037
TP2: 0.87833

USDCHF BUY: 0.96813
SL: 0.96486
TP1: 0.97049
TP2: 0.97280

USDCAD SELL: 1.41622
SL: 1.42093
TP1: 1.41393
TP2: 1.41170

EURCHF BUY 1.05859
SL:1.05583
TP1:1.06172
TP2:1.06306

NZDUSD BUY: 0.59442
SL: 0.58987
TP1: 0.59653
TP2: 0.59872

AUDUSD SELL 0.60744
SL:0.61837
TP1:0.60438
TP2:0.60170

NZDCAD SELL 0.84047
SL:.084845
TP1:0.83706
TP2:0.83480

NZDJPY BUY: 63.852
SL: 63.111
TP1: 64.110
TP2: 64.371

AUDUSD BUY: 0.60914
SL: 0.60528
TP1: 0.61138
TP2: 0.61377

GBPAUD SELL 2.03786
SL:2.04431
TP1:2.03452
TP2:2.03152

EURAUD BUY: 1.79943
SL: 1.78314
TP1: 1.80176
TP2: 1.80436

AUDCHF BUY 0.58891
SL:0.58577
TP1:0.59211
TP2:0.59429

EURCHF BUY: 1.05895
SL: 1.05602
TP1: 1.06114
TP2: 1.06333

CADCHF BUY 0.68563
SL:.67487
TP1:0.68840
TP2:0.69138

GBPAUD SELL: 2.03421
SL: 2.04629
TP1: 2.03219
TP2: 2.02981

AUDCAD SELL 0.85822
SL:0.87669
TP1:0.85502
TP2:0.85241

EURJPY BUY: 117.554
SL: 117.110
TP1: 117.783
TP2: 118.008

GBPCAD SELL: 1.75003
SL: 1.77154
TP1: 1.74765
TP2: 1.74560

USDJPY BUY: 107.378
SL: 106.774
TP1: 107.663
TP2: 107.962

GBPJPY BUY: 133.203
SL: 132.302
TP1: 133.434
TP2: 133.686

EURUSD BUY: 1.09544
SL: 1.09167
TP1: 1.09807
TP2: 1.10044

GBPUSD BUY: 1.24211
SL: 1.23656
TP1: 1.24437
TP2: 1.24668

EURAUD SELL: 1.79068
SL: 1.80628
TP1: 1.78809
TP2: 1.78563

GBPNZD SELL: 2.08061
SL: 2.10000
TP1: 2.07842
TP2: 2.07625

AUDJPY BUY: 65.575
SL: 64.778
TP1: 65.806
TP2: 66.003

CADJPY BUY: 76.034
SL: 75.535
TP1: 76.253
TP2: 76.466

rfxsignals April 1, 2020 No Comments

DAILY FREE FOREX SIGNALS – 01-04-2020

DAILY FREE FOREX SIGNALS – 01-04-2020

 

GBPCHF BUY -1.19825
SL-1.19214
TP1-1.20120
TP2-1.20392

USDCHF BUY -0.96721
SL-0.95817
TP1-0.97040
TP2-0.97408

EURUSD SELL-1.09128
SL-1.10006
TP1-1.08735
TP2-1.08276

AUDUSD SELL-0.60471
SL-0.61071
TP1-0.60248
TP2-0.60015

NZDUSD SELL-0.58856
SL-0.59516
TP1-0.58568
TP2-0.58328

EURAUD BUY -1.80949
SL-1.79890
TP1-1.81334
TP2-1.81781

EURJPY SELL-117.131
SL-118.696
TP1-116.400
TP2-115.708

AUDJPY SELL-64.825
SL-66.526
TP1-64.041
TP2-63.459

EURGBP SELL-0.88054
SL-0.89502
TP1-0.87511
TP2-0.86877

EURCHF SELL-1.05553
SL-1.06318
TP1-1.05315
TP2-1.05111

CHFJPY SELL-110.874
SL-112.736
TP1-110.147
TP2-109.251
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Japanese Candlesticks Analysis 01.04.2020 (GOLD, NZDUSD, GBPUSD)

Japanese Candlesticks Analysis 01.04.2020 (GOLD, NZDUSD, GBPUSD)

01.04.2020

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after forming several reversal patterns, such as Hanging Man, not far from the resistance level, Gold has reversed; right now, it is testing the support level. The current situation implies that the pair may rebound from this level and then resume the rising tendency. in this case, the upside target may be at 1700.00. At the same time, there is another scenario, according to which the instrument may fall to test 1550.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the asset continues growing. After finishing the correction from the resistance level and forming an Engulfing reversal pattern, NZDUSD is reversing. The upside target may be at 0.6255. Still, one shouldn’t exclude another scenario, which says that the instrument may continue the correction towards 0.5858.

NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the rising tendency continues. By now, GBPUSD has formed several reversal patterns, such as Shooting Star, close to the resistance level. At the moment, the pair is reversing and may later form a slight correction, which may be followed by further growth towards 1.2550. However, there is another scenario, which implies that the instrument may rebound from the resistance level and fall towards 1.2140.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Fibonacci Retracements Analysis 01.04.2020 (GBPUSD, EURJPY)

Fibonacci Retracements Analysis 01.04.2020 (GBPUSD, EURJPY)

01.04.2020

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the daily chart, GBPUSD is correcting the previous descending wave and trying to fix above the low at 1.1958; by now, the pair has stopped its growth not far from the resistance at 61.8% fibo (1.2550). If the price rebounds from this level, the instrument may resume falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.1365 and 1.0996 respectively. However, if the price breaks 61.8% fibo at 1.2550, it may grow to attach the high at 1.3510.

GBPUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the local convergence made the pair start a new correction. The support is at 38.2% fibo (12092). After completing the pullback, the pair may resume growing to reach 61.8% and 76.0% fibo at 1.2510 and 1.2764 respectively.

GBPUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY has failed to break the highs despite an attempt to fix above the resistance at 38.2% fibo (120.19). Right now, the price is returning to towards 76.0% fibo at 117.55. If later the pair breaks this level, the instrument may continue falling to reach the low at 115.86.

EURJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is trading downwards to reach 61.8% and 76.0% fibo at 118.03 and 117.32 respectively. At the same time, there is a convergence on MACD, which may indicate a possible pullback or reversal. The resistance is the local high at 121.14.

EURJPY_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future