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Business / Finance

Technical analysis of major currency pairs in 28.04.2017

Portal Forex trader 28.04.2017 at 04:52

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Hello fellow traders! The trading week will end with a large portion of important economic news. Note the most important ones.

economic Calendar

11:30 UK. GDP the first quarter.

12:00 Eurozone. The consumer price index.

13:30 Russia. The decision of the Central Bank of the Russian Federation on the interest rate.

15:30 US. GDP the first quarter.

15:30 Canada. GDP

EUR/USD

On the time format of a schedule of prices have drawn a double top (at the point of entry into a short), and broke, at the turn, a profit target equal to the distance from the resistance line at the top to support the base.

If the base becomes resistance for correction of falling prices – it speaks to the strength of the developing downtrend. Waiting for confirmation of the strength of the falling trend, breaking down the inclined support current local minima (1).

remember that the area of least resistance the price goes down — "behind" unclosed gap (2) "magnet prices" that can cause a sharp drop in prices.

USD/JPY

Yesterday in the comments arose the question – "Can we draw a pin-bar?". The material of the survey referenced in the theoretical sections of the site by the affected subject. There this issue was discussed in detail, as the principles of operation for the specified figure.

the Pin bar that formed is confirmed, when it formed a candle with a minimum below the extremum of this bar. Yesterday's session formed a inside bar reinforcing reversal signal, but yesterday mark was given to the bar on the jump in volumes several times higher than the previous one.

Open orders big banks

Changes for 27.04.2017 UOB sold AUD/USD at price 0,7480 with the take of 0.7400 and stop 0,7540. UOB: triggered short at NZD/USD, entry price 0,6905. Take profit and stop 0,6830 0,6935. JP Morgan changed stop the current short EUR/CHF moving the level from 1.0900 to 1,0965, closed long GBP/NZD, with a profit of 1015 PP and GBP/AUD profit in 1007 PP. Credit Suisse put a Sell Limit NZD/USD at price 0,6936, take on 0,6801 and stop 0,6983. Morgan Stanley changed the stop on the current long GBP/JPY from the level of 137,50 up to 142.00. I recall the entrance was carried out at a price of 141.00. Fundamental analysis APR

Asian stocks declined, as investors booked profits, while the Korean won weakened after the US President, trump said that he will reconsider or stop the trade agreement with South Korea. The tension in trade between the United States and Asia can be maintained, which can poloziti factor of a downward movement for the currencies in the region.

MSCI's Broadest index outside Japan eased 0.15 percent, but gained 1.7% this week and showed its best weekly gain over the past month and a half. The index Kospi in South Korea slipped 0.2%. Japan's Nikkei fell 0.2%, but grew by 3.2% over the week, recording its best results since November. Hong Kong's Hang Seng dipped 0.2%, reducing the weekly gain to 2.3%.

, USD rose 0.1% against the JPY to 111.15 despite weaker than expected industrial reporting in Japan. The dollar index, which tracks the value of American currency against a basket of six major global rivals rose 0.1% to 99.21, and its growth amounted to 0.8 this week. The preliminary GDP data, expected to show a weakening of US economic growth in January-March to 1.2% yoy from 2.1% in the previous quarter.

Europe

European shares retreated from a 20-month highs due to a weakened banking sector and retaining investors profit, while the broader market moved in accordance with the decision of the European Central Bank to leave its monetary policy unchanged. Inflation in the Eurozone continues to lag behind its target, but reflects the recovery in the regions which feel a lot better since the financial crisis.

a Decrease of 6% of the Spanish Banco Popular added stress to banks in the Euro zone, where the sector is weakened by 1.8%. However, the results of Lloyds British banks supported the growth of 2.3%. Weak profits in the first and fourth quarters in the field of renewable and retail businesses have undermined the appetite for energy in Europe.

the EUR declined 0.1% to 1.0860 against the USD after the ECB kept its ultra-light rates unchanged earlier Thursday. The single currency received a weekly gain of 1.3%, showing the best week for 5-1/2 months thanks to the victory of centrist Emmanuel Macron in the first round of the French elections.