Today’s pairs with euro take a lead, because after the last week ECB meeting it is still the hottest currency. The nearest session will decide about the next moves of common currency.
AUD/JPY:
Currency pair is approaching the key resistance, the last daily candles have more than 30 pips! Volatility totally stopped on this pair and we there is ongoing, arduous rally. Today’s data has not changed anything. It remains to wait for an attack on the resistance, and if there is a PA sell signal we will be able to open short positions – because the pair is in the consolidation since 2 months. But we must remember that broader trend is upward, so trading like this will be against long-term trend.
EUR/CAD:
The first currency pair with euro which approached the support and for now just bounces from it. The trend since march is undoubtedly declining, while in the longer period we still have increases. Traders waiting for lows/highs definitely should closely observe the price action.
EUR/JPY:
Price reached the support area, which stopped the currency rate several times. Each signal taken from H4 in this place gave a chance to earn – or at least not to lose – so now you can also look for opportunities to enter. Breaking below this zone will chance the view and it will be worthy to look only for short positions – at the re-test of prior support areas (from the bottom).
EUR/USD:
Eurodollar also rebounds from the support, which after ECB decision stopped the declines. Here however, I would be far from seeking long positions. The situation is clearly downward, the price reflect from the resistance, broke local support, which a few days earlier constituted a barrier to the downward movement.
XAU/USD:
Ongoing correction on gold. Price is approaching the support area – the peak around 1278.00USD will be more important than the low formed in the end of April. Nail Fuller recommended even putting sell limit near the upper resistance area (previously the support).
