EURUSD: Buscando liquidez en zonas de venta de la semana. Niveles clave de entradas y salidas
Escenario bajista: Ventas por debajo de 1.0820 / 1.0841... Escenario alcista: Compras sobre 1.0827...
Can USD reverse in April?
Esta información no son consejos para inversión
As we move away from the bank crisis and de-dollarization concerns, a significant question on the minds of many traders is whether the US Dollar will experience a corrective rebound from its current position. This is a crucial question because it will set a precedent for predicting the price action of various commodities, particularly gold. To answer this question, let's examine the current price action on the charts and determine whether the US Dollar will strengthen in April after several weeks of bearish momentum.
US DOLLAR - Weekly Timeframe
The US Dollar chart on the weekly timeframe shows the price currently around a key rally-base-rally demand zone with a confluence of trendline support, the 100-Period Moving Average, and a bullish array from the moving average positions. This confirms, to a large extent, the bullish sentiment and the expectation of a reversal from the Dollar in April.
Analysts’ Expectations:
Direction: Bullish
Target: 103.933
Invalidation: 99.629
EURUSD - Weekly Timeframe
EURUSD has reached an important drop-base-drop supply zone on the weekly timeframe. A resistance trendline intersects this supply zone and the 100-Period Moving Average. Considering the manner of arrangement of the Moving Averages and the 88% of the Fibonacci retracement, we will likely see a big bearish movement away from the supply zone.
Analysts’ Expectations:
Direction: Bearish
Target: 1.07088
Invalidation: 1.11839
GBPUSD - Weekly Timeframe
Similar to the EURUSD scenario, we find GBPUSD playing out within a rally-base-drop supply zone with the trendline intersection. The 100-Period Moving Average is also within close reach of the current price spot, which could contribute to the bearish movement as a resistance level.
Analysts’ Expectations:
Direction: Bearish
Target: 1.21033
Invalidation: 1.26882
USDCAD - Weekly Timeframe
If the US Dollar truly plays out stronger, it would lead to a bullish price action here on the weekly timeframe of USDCAD. As a result, we need to check for factors that may contribute to the bullish outcome. First, the rally-base-rally demand zone and the 50-Period Moving Average serve as the initial confirmation. At the same time, the trendline support and the 76% of the Fibonacci retracement tool can be considered secondary confirmation factors. Overall, the bullish sentiment seems valid beyond any doubt.
Analysts’ Expectations:
Direction: Bullish
Target: 1.38227
Invalidation: 1.29965
CONCLUSION
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
Legal disclaimer: The content of this material is a marketing communication, and not independent investment advice or research. The material is provided as general market information and/or market commentary. Nothing in this material is or should be considered to be legal, financial, investment or other advice on which reliance should be placed. No opinion included in the material constitutes a recommendation by Tradestone Ltd or the author that any particular investment security, transaction or investment strategy is suitable for any specific person. All information is indicative and subject to change without notice and may be out of date at any given time. Neither Tradestone Ltd nor the author of this material shall be responsible for any loss you may incur, either directly or indirectly, arising from any investment based on any information contained herein. You should always seek independent advice suitable to your needs.
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