Forex Friday the 7th of April

Εν αναμονή της επόμενης επενδυτικής κίνησης…
April 6, 2017
Πάρτυ χωρίς τράπεζες ΔΕΝ γίνεται
April 7, 2017

In 3 hours from now we will know the  NFP numbers and the market is expected to be more lively than it is now. I believe that it is more probable to see Dollar weakness after the NFP as most technical indicators tell me. The Dollar index is mainly moving sideways but it justifies a pull back towards 100 as there are bearish short-term divergence signs in the RSI and price is right below the important daily Kumo resistance.

AUDUSD

In a downward sloping wedge, I believe that the most probable direction price will follow is to the upside once resistance at 0.7550 is broken…price will then be expected to reach 0.76-0.7620 at least.

USDJPY trapped inside a trading range 110-112 for the last two weeks, I believe that a bearish breakdown could start today to unfold. Critical short-term support at 110 just 63 pips away from current levels.

More analysis in the comments section. Thank you for taking the time to catch up on my thinking.

Alexandros Yfantis
Alexandros Yfantis

Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.