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Business / Finance

Analysis of the weekly candles on the major currency pairs from 03.05.2017

Portal Forex trader 03.05.2017 at 04:57

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Hello, fellow traders! The following is the analysis of the weekly candles.

economic Calendar

01-45 New Zealand. Unemployment rate (first quarter)

11-30 Kingdom. The index of business activity in the construction sector

17-00 USA. PMI

17-30 USA.Oil reserves

21-00 USA. The interest rate decision. The results of the fed meeting

GBP/USD

an ascending trend, formed after the breakout of the triangle ran into weekly resistance, tested by the candle of the previous week. It is necessary that the closing price of the current candle was above this line. While the visible "mercy snot" poorly drained robot. Curious case of the drain was described in the press and proven during the investigation

Important fundamental news, coinciding with significant levels, implying manipulation of price. The current week while not shown, forming the inner candle. The highs of the candle last week, there would be some good levels to contrarreloj trade.

AUD/USD

In this pair there is no reason to build complex strategies and look for shapes. The boundaries are defined by a flat clear on all timeframes.

a Simple recipe for trade: sell from top, buy from bottom border. In the middle, as always slowing down the middle line alternately serves as resistance and support. In the period of strong news, is to "hold" pending orders at the borders, the rollback of which is provided with an "accidental breakthroughs"

Open orders by major banks Changes over 02.05.2017 UOB closed short NZD/USD open at 0.6905 with a score of minus 30 pips long on USD/JPY closed he reaches to take 112.20, with a score of plus 100 pips. Credit Suisse “flew” and short on USD/JPY on stop at 112.20 with a score of minus 45 pips. CITI has opened a position on GBPAUD long on the price 1.7111 to take 1.5900 and stop loss at 1.7450. Fundamental analysis APR

Asian stocks mostly rose today, as high corporate earnings and manufacturing data fed risk appetite, while expectations that the fed will point to prospects of monetary tightening in June has supported the growth of USD. Oil prices also jumped after concerns of oversupply in the markets has weakened.

The broad MSCI stock in the region outside of Japan weakened slightly, stepping back from two-year highs. The MSCI World index has surpassed the early records reaching new highs. Hong Kong and South Korea are closed for Buddha's birthday, and Japan closed for the Golden week holiday. Taiwan gained 0.1% while the CSI 300 in China retreated by almost 0.3%. Australian stocks fell 1%, finding additional catalysts for growth after the breakdown of the two-year highs a day earlier.

USD rose slightly to the level of 112.07 against the JPY, touching a six-week high earlier on Tuesday, while the us dollar index weakened to 98.92. Markets await message from the fed, which will arrive later today. Since the last meeting the economic data has been mixed in the first quarter, the economy showed a sluggish growth of 0.7%, due to the almost stalled consumer spending.

Europe

European shares rise thanks to healthy corporate earnings and strong manufacturing data that added confidence in the stability of the basic economy in the region. Manufacturing activity grew on strong demand, despite rising prices.

the pan-European Stoxx index gained 0.75% rose to the highest level from August 2015 on Tuesday on the background of other major European indices. French blue chips have risen to the highest levels in almost a decade, and the German DAX reached a fresh record highs. About a third of companies in the MSCI Europe showed that the growth of corporate profits in the region was in full swing in the first quarter thanks to the revival of manufacturing processes in the United States. According to Reuters IBES, profit in Europe grew by 13.9% on average.

the EUR has strengthened by 0.3% to 1.0934 against the USD, while the GBP has stabilized at 1.9440, an increase of 0.4% against the U.S. dollar on Tuesday. The Eurozone unemployment rate in March remained at the level of 9.5%, showing the lowest level since April 2009, while production growth has reached six-year highs in France and Germany, as well as three-year highs in the UK.