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Wednesday, April 13th


EUR/USD is under the bearish pressure this morning after positive results from Chinese trade balance figures that have given extra legs to the risk-on sentiment during the Asian session today, prompting sellers to return to the markets and push spot lower. In addition, the greenback seems to have managed to revert the recent weakness, collaborating with the pair’s correction lower from yesterday’s fresh 2016 top spot at 1.1460.Data wise today, ECB’s E. Nowotny is due to speak ahead of EMU’s Industrial Production during February, while Retail Sales and the EIA’s weekly report on crude inventories will take center stage across the Atlantic. Now pair trades 1.1355 with its todays support and resistance levels located at 1,1278 and 1,1455.



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Thursday, April 14th


EUR/USD continues to lose ground following the general recovery of the dollar, renewing this month lows at 1.1254 spot. The dollar index now trading at multi-day highs. The pair will remain under pressure ahead in the session, as the final March’s CPI figures in the euro area are due ahead of key inflation figures in the US economy tracked by the CPI. Now pair is trading at close to today's low, at 1.1260, with the support level located at 1.1181 and resistance level at 1.1361.


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Friday, April 15th


EUR/USD trades modestly flat in a 20-pips consolidating near its two-week lows reached at 1.1234 on Thursday. The main currency pair keeps its side-ways movement intact as we head into early Europe, with the traders largely unperturbed by upbeat Chinese fundamentals news, including in-line with expectations GDP figures. Moreover, the downside remains capped by the mid-point of 1.12 handle as the USD bulls stalled the recent upsurge and awaits the industrial production for march and The University of Michigan Consumer Sentiment Index data for fresh direction. For the EUR, the macro calendar remains light, with the only second-liner data in the Euro zone trade balance lined up for release later today. Now pair trades at 1.1262 with approximate support and resistance levels at 1.1190 and 1.1310.


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Monday, April 18th


EUR/USD could not sustain the earlier advance beyond the 1.1300 mark at the beginning of the week in response to the fiasco at the meeting in Doha, giving away initial gains and returning to the comfort zone around 1.1280. Risk appetite trends will remain the exclusive driver today in the global markets while traders continue to digest the ‘no deal’ between OPEC and non-OPEC countries yesterday and amidst a vacuum of data in the euro area. Now the pair is trading at 1.1285 with current support and resistance levels located at 1.1237 and 1.1365.


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Tuesday, April 19th


GBP/USD extends its recovery from below 1.41 handle for the third straight session, with the recent rise in the pound largely attributed to the Brexit poll results. Shifting in favor of the ‘remain’ camp, especially after the treasury analysis on the EU referendum, revealing that a vote to leave would mean Britain would be worse off by £4,300 a year per household. Looking ahead, the UK docket remains empty this session and hence, focus turns towards the US housing data for further incentives on the major. Apart from the data, BOE Governor M. Carney speech will be closely heard for fresh hints on the UK economic as well as interest rates outlook. Remaining under the bullish pressure Pound discovers new highs of this week, while staying near highs of the last week. Now pair is trading at 1.4332 with the current level of support at around 1.4169 and resistance at 1.4401.



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Wednesday, April 20th


GBP/USD is losing ground after 3-week tops at 1.4419, as the greenback is seen recovering some ground and market participants seem biased to some profit taking as well. Later in the session, UK’s key labor market figures are due, with consensus expecting the Claimant Count Change to decrease by more than 11K and the jobless rate to stay put at 5.1%. Now the pair is trading at 1.4373, with its todays support and resistance levels at 1.4299 and 1.4521.


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Thursday, April 21th


EUR/USD pair has returned to 1.13 spot after nearly reaching 1.14. Euro lost almost cent against greenback on Wednesday, and now pair is trading in a flat range between 1.1290 and 1.1305. A better tone in crude oil prices has sparked another bout of risk-on trade, while the greenback remains bid for the time being, all weighing on the pair ahead of the ECB meetingdue later. Currently pair trades 1.1295 with its support and resistance levels located at 1.1216 and 1.1371.



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Friday, April 22th


USD/JPY pair popped higher from near daily low to hit fresh almost two-week tops in late Asia, after reports hit the wires that BOJ officials are said to discuss lending to banks at negative rate. The Asian markets also found support from the BOJ news, sending the Nikkei into the green territory, which further supports the upside rally in the major.Meanwhile, pair will stay under influence of BOJ headlines and US will release secondary reports later. Currently the pair is trading around todays high at 110.32, with support and resistance levels at 108.89 and 111.32.



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Tuesday, April 26th

GBP/USD met strong resistance at level 1.45 yesterday, with no chances to sustain above it. The cable is seen consolidating near 10-week tops, although failed to keep 1.45 handle, as a mild cautious tone prevalent in the markets weighed on the risk currency GBP.However, the GBP/USD pair manages to remain on the bids on the back of stabilizing oil prices and growing anti-Brexit chatter across the GBP markets. Today economic calendar contains BBA Mortgage Approvals from UK and core Durable Goods Orders (Mar) with CB Consumer Confidence from US later. Currently pair is trading abandoning yesterdays high and holding on 1.4492 spot. Todays support and resistance levels are located at 1.4406 and 1.4597.


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Wednesday, April 27th

GBP/USD tradesslightly lower near Europe, consolidating in upper 1.45. Pair is feeling confidence this morning amid broad based US dollar weakness and growing anti-Brexit support. However, traders are expecting the UK prelim GDP report due to be published in the European session. Markets are expecting the GDP growth rate to have slow, on the back of sentiments based on Brexit poll results. After the UK data, the main event for the major is expected to be the FOMC decision, following the conclusion of the two-day policy meeting that started on Tuesday.The pair is currently trading at 1.4573 with current support and resistance levels located at 1.4493 and 1.4729.


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