Tuesday’s Technical Analysis on EUR/USD,GBP/USD,USD/JPY
FX77 | Apr 05, 2016 02:53AM ET
At 3:30(GMT), Australia will release the benchmark interest rate for April. BNP Paribas (PA:BNPP) said that recently the Reserve Bank of Australia had never said anything negative to AUD and they tended to make a certain easing stance. The market was very likely to expect the interest rate cut to come earlier (so far 2.0%). Yujiro Goto, Strategist of Nomura reported on April 4 that Japan inflation was expected to contine falling so the Bank of Japan was more than likely to increase the policy easing and the Japanese government may take fiscal stimulus measures as well.
EUR/USD
Seen from the Chart H1, MACD is near the Zero Axis. So far it is in a correction at the top. Seen from the H4 trend as well, the top divergence has forms so the possibility to a further fall down becomes bigger. We are mainly put option buyers in the daytime session. Be aware that put options should be stopped when the price breaks above the 1.1437 resistance level. (HKT)
Support: 1.1350/1.1300 Resistance: 1.1437/1.1500
GBP/USD
Seen from the Chart H1, it is not clear whether it will rise or fall. MACD tends to move above the Zero Axis so we will mainly trade between a small range. Put options can be purchased at 1.4300 resistance level and call at 1.4200 supportive level. (HKT)
Support: 1.4200/1.4171 Resistance: 1.4300/1.4320
USD/JPY
As USD/JPY has room and momentum for a further fall after it broke the 111.00 key support, we mainly continue to buy put options. Put options can be stopped for a while at the previous low point of 110.65 area but call options should still be purchased with caution. Continue to buy puts after it breaks below there. (HKT)
Support: 110.65/107.60 Resistance: 111.20/111.50
[Tips]All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.