Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

Morning brief for April 6
Morning brief for April 6

Traders were toiling like galleys slave overnight as there were plenty of economic releases that led to some intraday moves…

GBP/USD: prices are fixed on Cloud
GBP/USD: prices are fixed on Cloud

Expanding bullish Ichimoku Cloud, rising Senkou Span A; a weak dead cross of Tenkan-sen and Kijun-sen; rising Tenkan-sen; the prices are in the support of Senkou Span A.

EUR/USD: euro may return to Cloud
EUR/USD: euro may return to Cloud

Expanding bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen and narrow channel of Tenkan-Kijun; the prices are under the Cloud and negative area, but there is a strong support on 1.0650/60.

EUR/USD: wave (ii) started
EUR/USD: wave (ii) started

As we can see on the one-hour chart, there’s a bearish impulse in wave (i). So, we could have wave (ii) in the short term.

USD/JPY: bullish
USD/JPY: bullish "Tower"

There’re a bullish “Engulfing” and a “Tower”, so bulls are likely going to test the nearest “Window” during the day.

GBP/USD: developing
GBP/USD: developing "Flag"

There’s a consolidation under Moving Averages. Also, we’ve got a “Pennant”, which is likely going to be transformed into a “Flag”.

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