2021-04-26 • Updated
The UK has published a set of encouraging economic data on Friday. UK Retail Sales came out with better-than-expected data as well as PMI reports, which measure the economic health of the manufacturing and services sectors.
The British pound surged after this positive news. GBP/USD has even jumped above the 50-day moving average. The pair has approached the resistance of 1.3900. If it manages to break it, the way up to the high of April 19 at 1.4000 will be open.
Despite the better-than-expected data, the GBP keeps losing against the EUR. It seems that traders have already priced in the UK reopening amid the successful vaccine rollout, now all eyes are on Euro Area. EUR/GBP has just broken through the resistance of 0.8690. The way up to the high of February 26 at 0.8730 will be clear. Support levels are the recent lows of 0.8650 and 0.8600.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
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 ...
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.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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