Get clues on the Tuesday moves of the NZD, EUR, and GBP!…
Trading plan for April 24
Markets show significant one-way movements as the US dollar is continuing to strengthen.
North Korea announced its willingness to suspend nuclear programs, so geopolitical tensions weakened influencing the dollar’s rate.
The geopolitical issues eased and the USD/JPY pair has climbed further. The pair is moving to the 38.2 Fibonacci retracement level at 108.50. If no crucial events happen in the political and economic arena, the pair will be able to break above it. The next psychological level for USD/JPY is at 109.
Although the European economic data were quite good, they could not support the euro, so the euro continued to depreciate versus the greenback. On April 26, the European central bank will hold a press conference. Any hawkish sounding comments will be able to support the euro. Until then, if the pair closes below the daily Ichimoku cloud, the support will lie at 1.22. The next support is at 1.2180.
GBP/USD started declining on April 17 and continues until today. No important data for the pound is anticipated in next few days. So the support lies at 1.39.
The Australian dollar is suffering a lot. The AUD/USD pair has reached the lowest level since the end of 2017. Tomorrow CPI and Trimmed Mean CPI data will be released. A forecast is not encouraging. If actual figures are weak, the aussie will plunge further. The support is at 0.7608. The next level is quite far at 0.7562.
Thank you for your attention!