LeTechs Forex Blog - 26th April 2016 Forex Trading Technical Forecast

26 Apr

26th April 2016 Forex Trading Technical Forecast

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Daily Technical Analysis on 26th April 2016. Today’s Technical Analysis Pairs: EURUSD, GBPUSD, USDJPY, XAUUSD and AUDUSD

EURUSD

The reality that the ECB went the interest rates unchanged had a collision on the euro. The euro chops down in response to this news. 10-year German government bonds give up decreased in the Bonds Market. Unmoving the pair EURUSD can somewhat strengthen in the start of the week. The Fed conference will be the focal point of our consideration this week.

As per my last weekly technical preview, EURUSD medium term trend has changed to Bearish. If you miss last sell change, you can use now @1.13268

The 1st support remains at 1.126 levels & after those 1.115 levels. The 1st resistance takes place at 1.135 levels; the other one is at 1.145 levels. The MACD indicator is in a negative region. The value is prospering. The downward spring back potential goal is 1.126 & 1.115 levels.

GBPUSD

The authentic grew following the US President Obama’s speech. According to the UK government will attain in the "end of the streak" connecting to the trade concord with the US if the state leaves the EU coalition. The UK GDP statement for the 1st quarter is the main occasion in the country for this week. The description is to be released on Wednesday. The forecast is 0.4 percent; the earlier cost was 0.6 percent.

The value is finding the 1st support at 1.448 levels; the other one is at 1.44 levels. The value is finding the 1st resistance at 1.456 levels; the other one is at 1.465 levels. It’s a confirmed & a burly buy signal. The price is increasing. We consider the growth will be constant now. The 1st target is the level of 1.456, after those 1.464 levels.

USDJPY

The US dollar turns down against the yen on Monday send-off 3week highs. The marketplace is coming up for the Fed conference & BOJ meeting.

The value is verdict the 1st support at 110.6 levels, the other one is at 109.6 levels. The value is verdict the 1st resistance at 111.4 levels, the other one is at 112.2 levels. It’s a confirmed & a muscular buy signal. The potential reduces target is the support levels of 110.6. We do not keep out the growth to 111.4 levels & 112.2 levels.

XAUUSD

XAUUSD - Gold market rebounds off of the 1230 level in sort to form a little positive candle. conversely, it looks as if we just crush away generally as buyers carry on to be fascinated out these lower levels in a marketplace that has freshly had an incredibly impetuous move superior, but has resisted to really break free.

Short-term pullbacks ought to maintain to be buying opportunity, & at this position in time, we have no curiosity whatever in selling this marketplace as there is more than adequate support below recent levels. The 1200 level appears to be the “bottom” in this marketplace.