LeTechs Forex Blog - 29th April 2016 - EURUSD, GBPUSD, USDJPY, USDCHF, Natural Gas & XAUUSD Trading Tips

29 Apr

29th April 2016 - EURUSD, GBPUSD, USDJPY, USDCHF, Natural Gas & XAUUSD Trading Tips

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Daily Technical Analysis on 29th April 2016

Today’s Technical Analysis Pairs: EURUSD, GBPUSD, USDJPY, USDCHF, Natural Gas & XAUUSD

EURUSD

Investors are dissatisfied by the consequences of the Fed conference, the Committee’s oratory has been more positive than in March, except the odds of rising of federal funds price in June are low down.

EURUSD currency pair is unmoving traded surrounded by the correction to the lower frontier of the ascending tendency. The RSI is rear below the trend line, signifying a decrease in reference. EURUSD involves value fixing underneath 1.13 levels, the next target for bears is at the level of 1.12.

GBPUSD

On a national scale, Housing costs in the UK amounted to 0.2 percent balanced with 0.8 percent in the earlier month. Analysts had anticipated a development by 0.4 percent. The US released the GDP information for April. The statistics came in at the level of 0.5 percent q/q, as the preceding value was 1.4 percent q/q, but the forecast was 0.7 percent q/q.

The value is finding the 1st support at 1.456 levels, the other one is at 1.448 levels. The value is finding the 1st resistance at 1.467 levels, the other one is at 1.476 levels. It’s a confirmed & a brawny buy signal. MACD indicator is in a positive region. The value is rising. The buyers require smashing over 1.467 levels for a stable growth. The technique to the mark 1.476 levels will be unlocked subsequent to this burst through.

USDJPY

The yen grew while the BOJ-Bank of Japan did not modify the interest charge, as predictable. The watchdog determined not to apply a few extra negative interest values. Industrial Production for March rises by 3.6 percent on month basis, even as we anticipated a growth by 2.9 percent. Retail Sales chop down by 1.1 percent annually, even though a fall of 1.5 percent was probably.

The value is verdict the 1st support at 108.2 levels, the other one is at 107.4 levels. The value is verdict the 1st resistance at 109 levels, after those 109.8 levels. It’s a confirmed & a burly sell signal. MACD indicator is in a negative region. The value is falling.

If the value fixates underneath the support 107.4 levels, it might carry on the downhill trend in the short term. The possible target is 106.6 levels.

USDCHF

For USDCHF, USA GDP for the 1st part was the key event of Thursday. The data came in at the level of 0.5 percent q/q expecting the forecast was 0.7 percent q/q; the preceding value was 1.4 percent q/q. Preliminary Jobless assert number was the focal point of our consideration as well. The release came in at the level of 257K, expected forecast was 260K, and the earlier value was 247K.

The 1st support lies at 0.966 levels and then at 0.958 levels. The 1st resistance remains at 0.9750, the other one is at 0.985 levels. The MACD indicator is in a negative region. The value is strengthening.

We advised going short with the 1st target - 0.958 levels. While the prices merge under the 1st target it might go to the level of 0.95.

Natural Gas

Natural Gas prices primarily slipped following a statement from the Department of Energy that showed a bigger than predictable build in inventories. Value slid below the 10-day moving average at 2.10 & is perched to test an uphill sloping trend line at the level of 2.02.

Working gas in storage space was 2.557 Bcf as of last Friday, according to EIA guess. This signifies a net raise of 73 Bcf from the earlier week. Experts had likely a construct of 70 Bcf. Stocks were 870 Bcf superior to an early year at this occasion & 832 Bcf on top of the 5-year average of 1.725 Bcf. At 2.557 Bcf, whole working gas is over the 5-year historical range.

XAUUSD

XAUUSD - Gold prices posted a week highs of 1.267 per ounce in the instant result of the US GDP ignore, with support approaching as of slow growth, which is trusts Fed rate hike prospect reined in. Further, a softer dollar, lead by USDJPY flaw next the BoJ's lack of procedure action during the night, is maintenance a bid below gold values.

Values are hanging to test the April highs at 1.27 levels & after that the 2016 highs at 1.283 levels. Support on the yellow metal is seeing close to the 10-day moving average at 1.243 levels. Momentum has crooked positive as the MACD indicator spawned a buy signal.

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