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Business / Finance

Graphical analysis of the major currency pairs on 02.05.2017

Portal Forex trader 02.05.2017 at 04:24

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Hello, fellow traders! Here's an overview of economic news and analysis pairs 02.05.2017.

economic Calendar

02-00 Japan. Minutes of the meeting of BoJ.

04-45 China. PMI.

07-30 Australia. Meeting on the interest rate RBA.

11-00 Eurozone. PMI.

11-30 Kingdom. PMI.

12-00 Eurozone. The level of unemployment.

EUR/USD

the Pair is exposed to close attention from speculators in the proximity of two fundamental events: the fed meeting and final round of elections in France

the Postulate of the Forex market States about the direct dependence of the accuracy of the analysis of the size of the format frame. If you look at weekly candle, we have a pin bar formed a bullish gap, bearish reversal pending combination – "abandoned child." The final formation will be confirmed at the end of the week — if the candle is bearish.

turn implying two reasons – strong resistance at point 1 and the uncovered gap under the doji.

USD/JPY

Japanese yen – protective volatile asset whose fate will be decided within two times this week.

the Weekly candle understand clearly two points – the current price rests on strong weekly resistance (2), but drivers of news that could lead to the break, with removal levels (3), it is enough.

the Gap last week, almost closed, and the current candle remained above the oblique resistance (1) will issue a final "breakdown" of this trend line (two candles closing above the trend line).

On the reversal , before pointing down, formed a candle engulfing pattern, which is a combination of a turn.

Open orders big banks

Change in 01.05.2017 Bank UOB closed shorts earlier opened in AUD/USD at 0.7480 with a loss of 60 pips, the stop at the level of 0.7540 Morgan Stanley dropped the shorts AUD/CAD open at the level located at 1.0120, stop at 1.030 with a loss of 180 pips. Exactly with the same data for the instrument, the open and footsteps on the AUD/CAD closed at minus 180 pips TD BANK Fundamental analysis USA

USD rallied, while the yield on long-term Treasury bonds soared to multi-week highs after US Treasury Secretary Mnuchin said that the issue of longer term than 30 years, bonds certainly makes sense. A sharp jump in bond yields helped the greenback to limit the negative pressure from weak economic data.

the Latest US economic indicators remain disappointing. The activity of producers has slowed and consumer spending has not changed in the previous month, showing a similar slowdown on a monthly basis for the first time since 2001.

USD rose 0.15% against EUR to 1.0914, while the us dollar index reached a 5-1/2-month highs. It is expected that this time the fed will not change rates at its two-day meeting, however, will outline the goal for the near future. Among other US data this week expected reports on ADP employment, orders for durable goods and a report on employment in non-agricultural sector.