LeTechs Forex Blog - Foolâ€™s Day - Daily Technical Analysis on 1st April 2016

01 Apr

Foolâ€™s Day - Daily Technical Analysis on 1st April 2016

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Friday,1st April 2016 intraday Technical Analysis Pairs: EURUSD, GBPUSD, USDJPY, & USDCHF. The differentiation stuck between victory & disappointment in Forex trading is incredibly probable to depend on the lead which currency pairs you decide to trade every day & not on the precise trading method you strength use to settle on trade entry & exits. Every day I am going to examine fundamentals, technical, & sentiment positions in sort to resolve which currency pairs is nearly everyone likely to make the easiest & a good number of commercial trading opportunities over today.

April fool’s Day Quotes for New Forex Trader:-

“There is no such thing as a Holy Grail”

“Trading is a marathon & not a sprint”

“Trading Demo account & real money”

“Trade properly & the profits will take care of it-self”

EURUSD

Germany retail sales declined in last February. The index cut down by 0.4 percent m/m, subsequent a diminishing by 0.1 percent in last January.

Economists forecasted an development of sales by 0.3 percent compare through January’s data release.

The figure of unemployed in Germany remain unchanged in March 2016, the unemployment rate stays at 6.2 percent.

The 1st support lies at the level of 1.135 after that 1.1260 levels. The 1st resistance sets at 1.145 levels, & the next is at 1.155 levels.

The buyers need to break above 1.1450 for a steady growth. The way to the mark 1.1550 will be opened after this breakthrough.

GBPUSD

The reality with the intention of UK economy grows in the last quarter months of 2015. At present the balance of expenditure for Q4 was 32.7 billion GBP.

GBPUSD is ruling the 1st support at the level of 1.432 & after 1.424 levels. These pair is verdict the 1st resistance at the level of 1.44, & the next level is at 1.448.

USDJPY

According to Kuroda the marketplace interest rates considerably decreased; the government did not announce conquest over a depression as it cannot be certain that the low prices will not go again.

USDJPY Pairs, 1st support is at the level of 112.2, after 111.4 levels. 1st resistance at 113 & the next level is at 113.8

The rising bounce possible target is 113. If the price go down it will acquire to 112.2

USDCHF

US dollar chops down next to approximately all currencies when Janet Yellen supported a careful come near to the interest rates rising. Investors measured her comments as a soft manner, which lead to the stock market increase.

The 1st support is at the level of 0.9580 & the next level is at 0.9500. The pair is judging the 1st resistance at the level of 0.9660 after that 0.9750.

We recommend to short by means of the 1st target - 0.9500. While the pair consolidates below the 1st target, we preserve open deals to the point of 0.9420.

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