Best Trade Ideas for April
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The negative sentiment continued in the equity markets yesterday
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is now trading within the Kumo. Should the pair manage to eliminate the upper level of the cloud will trigger the pair further towards the previous top. If the strength of the market fades, it will attempt to test the lower level of the Kumo.
European Market View
The negative sentiment continued in the equity markets yesterday with declines across the board. Currently there are not any signs of full-blown risk off however more softness across sectors and styles. In U.S., Dow Jones dropped -0.3%, S&P 500 -0.2% and NASDAQ was marginally lower -0.1%. Risk appetite is better in Asia this morning with most markets moving higher. U.S. and European futures surfing around yesterday's closing level.
In the FX space now, commodity currencies such as the AUD, the CAD, the NOK, and the NZD rose mostly against JPY and CHF yesterday. USD also gained, with USD/JPY making new high approaching 114 level and EUR/USD new low closer to 1.1500 mark.
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