Trade ideas for March 28 - April 1
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
AUD/JPY: Risk off remains and gains momentum
2021-01-22 • Updated
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAU/USD: Gold a remarkable sell off is taking place.
US Market View
U.S. stocks are set to open lower later, on a combination of the pandemic news and the downbeat news from Tech’s Old Guard late on Thursday. Crude oil prices also fell on the same pandemic concerns. News flow from the pandemic took a turn for the worse, as President Joe Biden warned of another 100,000 deaths within the next month, while Tokyo faced up to fears it may have to cancel the rescheduled summer Olympics. PMIs in Europe also ticked down and government deficits ticked up. The news flow around the pandemic took a darker turn around much of the world. President Joe Biden said the U.S. death toll from Covid-19 could top 500,000 in the next month, while Germany’s topped 50,000.
U.K. Prime Minister Boris Johnson warned that the current lockdown could last until summer and Japan’s government was forced to deny reports that it will be forced to cancel the summer Olympic Games, which were already rescheduled once last year.
The Eurozone economy fell deeper into contraction territory at the start of the year, according to purchasing managers indices released by IHS Markit.
The Composite PMI for the Eurozone fell to 47.5 from 49.1, against a backdrop of restrictions on social life and economic activity that have been successively tightened as new strains of the virus have been discovered.
USA Key Point
- London COVID-19 variant found in Japan.
- Pfizer supply issue slows vaccination program.
- AUDNZD bond yield divergence favors sellers.
- Copper falls nearly 2% on risk off tones.
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GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Latest news
USD: Powell Speaks on Cutting Interest Rates
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
WTT: Currency Pairs To Trade In April
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
