GBP/USD: 'V-Top' pattern led to decline
There's a 'Double Bottom', which has been confirmed, so the price is likely going to test the nearest resistance...
Key option levels for Monday, April 10th
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EUR/USD
| Main trend | Short-term period | Medium-term period |
 Neutral |
Neutral |
|
| Changes in the open interest |  + 28 123 ↑ |
 + 69 379 ↑ |
| Closest resistance levels | 1.0617; 1.0663-75; 1.0709; 1.0746 | |
| Closest support levels | 1.0585; 1.0560; 1.0525; 1.0480 | |
| Trading recommendations | ||
| Baseline scenario | Long EUR/USD above 1.0585, with target points at 1.0617 and 1.0663 | |
| Alternative scenario | Moving below 1.0585 can be considered as a signal to Sell the pair, with target at 1.0560 and 1.0525 | |
GBP/USD
| Main trend | Short-term period | Medium-term period |
 Bullish |
 Bearish |
|
| Changes in the open interest | + 511 ↑ |
+ 304 ↑ |
| Closest resistance levels | 1.2414; 1.2440; 1.2466; 1.2485 | |
| Closest support levels | 1.2366; 1.2338; 1.2318; 1.2294 | |
| Trading recommendations | ||
| Baseline scenario | Long GBP/USD above 1.2414 (or from 1.2366), with target points at 1.2440 and 1.2466 | |
| Alternative scenario | Moving below 1.2366 can be considered as a signal to Sell the pair, with target at 1.2338 and 1.2318 | |
USD/JPY
| Main trend | Short-term period | Medium-term period |
| Bullish |
Bearish |
|
| Changes in the open interest | + 820 ↑ |
+ 116 ↑ |
| Closest resistance levels | 111.63; 111.86; 112.15; 112.49 | |
| Closest support levels | 111.05; 110.63; 110.34; 109.84 | |
| Trading recommendations | ||
| Baseline scenario | Long USD/JPY above 111.63 (or from 111.05), with target points at 111.86 and 112.15 | |
| Alternative scenario | Moving below 111.05 can be considered as a signal to Sell the pair, with target at 110.63 and 110.34 | |
Grigory Zverev
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USD/CAD is recovering
Last week, USD/CAD held above the strong daily support level.
Gold will continue to consolidate
On the daily chart, we expect the price of gold to fluctuate sideways within the Symmetrical Triangle with resistance and support marked by the blue line.
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