USD/JPY fundamental analysis for April 3, 2017

USD/JPY has been trading in range today after having an impulsive bearish move after bouncing off from 112.20 resistance area. Today JPY had Tankan Manufacturing Index report showed a decreased value at 12 which was expected to be at 14 but Tankan Non-Manufacturing Index report showed positive value at 20 which was expected to be at 19. So, overall a mixed view off the JPY news today. On the other hand, Today USD ISM Manufacturing PMI report is going to be published which is expected to be at 57.2 which previously was at 57.7 and Construction Spending is expected show some positive outcome at 1.0% which was at -1.0%. as the USD news gets published the market is expected to be volatile and today's daily close will disclose the upcoming move in this pair.

Now let us look at the technical view, the price is currently contained inside the box of range between 111.20-50 area. A daily close above or below this area will clarify the upcoming move in this pair. As of the structural behavior, the price is expected to proceed towards a lower ground at 110.20. On the other hand, if the price breaks above 111.50 resistance then we will be looking forward to buy with a target towards 112.25-50 and so on.

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Trading plan for EUR/USD and Gold for April 03, 2017

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Technical outlook:

It looks like the EUR/USD pair finally terminated wave (1) at 1.0640 level last Friday, as labelled here. Continuing further, from our review last week, the pair should be producing its counter trend rally any moment and terminate wave (2), as seen above. Please note that the second wave can extend through 1.0800/05 levels ideally, since it is also Fibonacci 0.618 resistance of the entire drop between 1.0906 and 1.0640 levels respectively. Also, please watch out for resistance round 1.0770 level which is previous wave 4 of a lesser degree (not labelled here). If the above wave count holds true, the prices should ideally stay below 1.0906 level and look to print lower lows and lower highs, after terminating into wave (2). Immediate support is seen at 1.0640 level, while resistance is at 1.0906 respectively.

Trading plan:

Aggressive strategy would be to go long now with a stop below 1.0640 targeting 1.0740/50 at least. While conservative strategy would be to remain flat for now, sell on rallies through 1.0750/1.0800 levels, stop is at 1.0950 and target is 1.0350 and lower.

Gold chart setups:

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Technical outlook:

Gold had hit below the first projection at $1,240 level before pulling back again. Please note that the metal had broken below initial price support as well. The subsequent rally towards $1,250 level looks to be 3 waves (corrective) till now since the prices slid below $1,245 level again. Also note that the trend line resistance has also been tested and the metal remains into the sell zone for now. Furthermore, the extensions are also pointing towards a potential drop towards $1,235 levels if not lower. Finally, the prices have also tested its Fibonacci 50% resistance, as seen here. If the above structure holds, Gold has got potential to push lower at least towards $1,230/35 levels from here. It is still too early to project with confirmation that Gold could dip towards $1,180 level or not but $1,220 seems to be possible. Immediate support is at $1,228 level, while resistance is seen at $1,255.00 level respectively.

Trading plan:

Please continue holding short positions now, stop is at $1,261, targeting at least $1,230.

Fundamental outlook:

Please watch out for USD ISM manufacturing data coming out in less than 10 minutes at 10:00 AM EST. It could be setting up for the counter trends discussed above.

Good luck!

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EUR/USD fundamental analysis for April 3, 2017

EUR/USD has been in an impulsive bearish trend since its bounce off the resistance of 1.0850 area. EUR is going through negative economic data streak and the streak seems to continue till today. Today, EUR had Spanish Manufacturing PMI report which was expected to be at 54.6 but the report was published with a figure of 53.9, Italian Monthly Unemployment rate was somehow positive at 11.5% which was expected to be at 11.9%. The EUR Unemployment rate was a slight decreased at 9.5% the same as expected amount and PPI was published at 0.0% which was expected a rise at 0.2%. On the other hand, USD also has a high-impact economic event today, ISM Manufacturing PMI which previously was at 57.7 and today forecasted to be at 57.2. Market is expected to be volatile when the USD economic event is published and the market can move either way as per volatility exists in the market.

Now let us look at the technical view, the price is currently above the support 1.0630-40 area and as of the indecision we can see in today's candle, it is expected that the price will move up in the coming days towards the resistance 1.0716 before hitting the support at 1.0630-40. On other hand, if the price do not retrace towards the 1.0716 resistance area and directly hits the support of 1.0630-40 area, then we will look for any daily close above or below the 1.0630-40 area before taking any decision in this pair this week. A daily close below the support will signify more downward move and a rejection off the support level will target the resistance at 1.0716.

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USD/CAD intraday technical levels and trading recommendations for April 3, 2017

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Since April 2016, the USD/CAD pair has been trending upward within the depicted ascending channel.

In December 2016, a bullish breakout above 1.3300 (50% Fibonacci level) was expected to allow a further advance toward 1.3700-1.3750 (the upper limit of the depicted channel).

However, significant bearish rejection was expressed around 1.3580 (recently established top).

During the bearish pullback, the price level of 1.3300 (50% Fibonacci Level) failed to provide enough support to the pair.

This allowed further bearish movement toward the price level of 1.2970 (61.8% Fibonacci level) where a valid BUY entry was offered in February 2017.

Last week, the bullish breakout above 1.3300 (50% Fibonacci Level) enhanced further advance toward 1.3440 and 1.3530.

The next bullish target would be located around 1.3800 (upper limit of the depicted channel) if the pair maintains upside trading above 1.3300 (50% Fibonacci Level) which stands as a prominent support level.

On the other hand, if the USD/CAD pair moves below 1.3300, it may become trapped again within the depicted consolidation range (1.3300-1.2970).

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NZD/USD intraday technical levels and trading recommendations for April 3, 2017

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The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.

A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed further advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action was expected.

Bearish persistence below 0.7250 allowed further decline toward 0.7100 then 0.6960 which failed to provide enough support for the pair.

That is why further bearish fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

Recently, the bullish breakout above the depicted key level (0.6960) was achieved.

That is why any bearish pullback toward 0.6960 should be watched for bullish rejection and a possible BUY entry.

On the other hand, the price level of 0.7100 remains a significant key level to be watched for bearish price action when bullish pullback extends above 0.7040.

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Elliott wave analysis of EUR/NZD for April 3, 2017

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Wave summary:

We continue to look for a more upside pressure in wave [v] toward at least 1.5570 and likely even closer to 1.5790 before the first impulsive rally from 1.4495 is complete. Longer-term we continue to look for much more upside closer to 2.0147, so we are only in the early stages of a new strong rally higher.

R3: 1.5388

R2: 1.5350

R1: 1.5305

Pivot: 1.5225

S1: 1.5150

S2: 1.5100

S3: 1.5050

Trading recommendation:

We are long EUR from 1.5235 with stop placed at 1.5050. If you are not long EUR yet, then buy a break above 1.5310 and use the same stop.

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Elliott wave analysis of EUR/JPY for April 3, 2017

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Wave summary:

As long as support at 118.24 is able to protect the downside, we will favor the possible triangle count for a rally towards 122.25 in wave D of the triangle consolidation. Only an unexpected break below support at 118.24 will invalidate the triangle consolidation and call for a little more downside towards 117,00 to complete the double zig-zag correction and set the stage for a new impulsive rally above 124.10.

R3: 122.83

R2: 121.84

R1: 120.45

Pivot: 118.75

S1: 118.47

S2: 118.19

S3: 117.00

Trading recommendation:

We are long EUR from 118.75 with stop placed at 118,00.

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Technical analysis of USD/JPY for April 03, 2017

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USD/JPY is expected to trade in lower range . The pair broke below its 20-period and 50-period moving averages which play resistance roles and maintain the bearish bias. The relative strength index is bearish and calls for further downside. In addition, the upside potential should be limited by the key resistance at 111.70.

Therefore, as long as this key level is not surpassed, look for further drop to 111.15 and even to 110.95 in extension.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 111.15. A break below this target will move the pair further downwards to 110.95. The pivot point stands at 111.70. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 111.15 and the second one at 112.15.

Resistance levels: 111.95, 112.15

Support levels: 111.50, 110.95, and 110.55

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Analysis of USD/JPY for April 03, 2017

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Recently, the USD/JPY pair has been trading sideways at the price of 111.45. On the 15M time frame, I found broken downward channel and successful re-test which is sign that selling looks risky. There is also a strong hidden bullish divergence in the background which is another sign of potetnial strength. My advice is to watch for potential buying opportunities. The first target is set at the price of 112.15.

Resistance levels:

R1: 111.45

R2: 111.50

R3: 111.40

Support levels:

S1: 111.22

S2: 111.15

S3: 111.05

Trading recommendations for today: watch for potential buying opportunities.

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Analysis of GBP/USD for April 03, 2017

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Recently, the GBP/USD pair has been trading sideways at the price of 1.2515. On the 5M time frame, I found the broken horizontal base (potential 1 day distribution) which is sign that buying looks risky. I calculated potential projection according to the current base and I got potential downward target at the price of 1.2375. I also found a broken upward trendline in the background which is another sign of weakness. My advice is to watch for potential selling opportunities.

Resistance levels:

R1: 1.2550

R2: 1.2560

R3: 1.2570

Support levels:

S1: 1.2530

S2: 1.2525

S3: 1.2517

Trading recommendations for today: watch for potential selling opportunities.

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Technical analysis of GBP/USD for April 03, 2017

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Overview:

  • The GBP/USD pair faced strong support at the levels of 1.2478 and 1.2407 this week. However, the minor resistance is seen at the level of 1.2578, and the pair is likely to try to approach it in order to test it again. However, if the pair succeed to pass through the level of 1.2578, the market will indicate a bullish opportunity above the new strong support level of 1.2578 (the level of 1.2578 coincides with the ratio of 78.6% Fibonacci). Moreover, the RSI starts signaling an upward trend, as the trend is still showing strength above the moving average (100). Thus, the market is indicating a bullish opportunity above 1.2578 so it will be good to buy at 1.2578 with the first target of 1.2635. It will also call for an uptrend in order to continue towards 1.2706 to retest the double top again. The weekly strong resistance is seen at the level of 1.2706 (double top). On the other hand, the stop loss should always be taken into account. Hence, it will be reasonable to set your stop loss at the level of 1.2407.
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Technical analysis of EUR/USD for April 03, 2017

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Overview:

  • The market opened below the first resistance 1 (1.0699). It continued to move downwards from the level of 1.0699 to the bottom around 1.0650. Today, the first resistance level is seen at 1.0699 followed by 1.0749, while daily support 1 is seen at 1.0650. The EUR/USD pair broke support which turned into strong resistance at 1.0699. Today, the pair is trading below this level. It is likely to trade in a lower range as long as it remains below the support (1.0699) which is expected to act as major resistance today. This would suggest a bearish market because the moving average (100) is still in a negative area and does not show any signs of a trend reversal at the moment. Amid the previous events, the EUR/USD pair is still moving between the levels of 1.0699 and 1.0590, so we expect a range of 109 pips in coming days. Therefore, the major resistance can be found at 1.0699 providing a clear signal to sell with a target seen at 1.0650. If the trend breaks the minor support at 1.0650, the pair will move downwards continuing the bearish trend development to the level of 1.0590 in order to test the daily support 1. Overall, we still prefer the bearish scenario which suggests that the pair will stay below the zone of 1.0699 today.
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Technical analysis of USD/CHF for April 03, 2017

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USD/CHF is expected to trade with bullish bias above 0.9990. The pair is holding on the upside and is trading above its rising 50-period moving average, which plays a support role and maintains the upside bias. The relative strength index is mixed to bullish. In addition, a support base at 0.9990 was formed and it allowed the pair a temporary stabilization.

Regarding economic data, the US Commerce Department reported that personal income improved 0.4% on month in February (as expected) and personal spending grew 0.1% (vs. +0.2% expected). The Chicago PMI edged up to 57.7 in March (vs. 56.9 expected), while the University of Michigan Sentiment Index posted 96.9 (vs. 97.6 expected). US Treasury yields lacked upward momentum as several Federal Reserve officials--including New York Fed President William Dudley, St. Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari--pointed out that the central bank is not in a rush to tighten monetary policy as the economy shows no sign of overheating. The benchmark 10-year Treasury yield eased to 2.398% from 2.412% Thursday.

To sum up, as long as 0.9990 is support, a further rise to 1.0035 and even to 1.0055 seems more likely to occur.

Resistance levels: 1.0035, 1.0055, and 1.0075

Support levels: 0.9950, 0.9910, and 0.9885

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Global macro overview for 03/04/2017

Global macro overview for 03/04/2017:

The Swiss KOF leading indicator data for the month of March were better than anticipated again. According to the KOF Swiss Economic Institute, KOF index added 0.7 points last month, which is above its long-term average, jumping to 107.6 from a downwardly revised reading of 106.9 registered in the preceding month. The reason behind the uptick was attributed to the positive trend established in the construction sector, favorable signals from the financial sector and domestic private consumption. The other leading Swiss industries like manufacturing and hospitality reported no change while exporting sector sent slightly negative signals. In conclusion, Swiss KOF report reconfirms overall positive trend in Swiss economy and a possible father expansion during the months to come.

Let's now take a look at the USD/CHF technical picture at the H4 time frame. The bull camp has managed to retrace almost 61% of the previous swing down but was capped at the level of 1.0028. The market trading conditions are overbought, so now a decline towards the next technical support at the level of 0.9959 is expected. Any break out above the 61%Fibo will open the road towards the next technical resistance at the level of 1.0060.

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Technical analysis of NZD/USD for April 03, 2017

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NZD/USD is expected to trade with bearish outlook. The pair is capped by a bearish trend line since March 30, which confirms a negative outlook. The downward momentum is further reinforced by the declining 50-period moving average. The relative strength index is also capped by a descending trend line since March 30. In addition, the upside potential should be limited by the key resistance at 0.7020.

Hence, as long as this key level is not surpassed, expect a further drop to 0.6975 and even to 0.6960 in extension.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6975. A break below this target will move the pair further downwards to 0.6960. The pivot point stands at 0.7020. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.7035 and the second one at 0.7055.

Resistance levels: 0.7035, 0.7055, and 0.7070

Support levels: 0.6975, 0.6960, and 0.6925

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Technical analysis of GBP/JPY for April 03, 2017

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GBP/JPY is expected to continue its downside movement. The intraday outlook is still bearish, as the process of lower highs and lows remains intact on the prices. Besides, both the 20-period and 50-period moving averages are heading downward without showing any reversal signals. The relative strength index remains under pressure below its neutrality area at 50.

To sum up, as long as 140.10 is not surpassed, it is likely to observe a decline to 139.05 at first. If breakout is seen, look for a new pullback to 138.75 in extension.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 139.05. A break below this target will move the pair further downwards to 138.75. The pivot point stands at 140.10. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 140.50 and the second one at 141.00.

Resistance levels: 140.50, 141.00, and 141.50

Support levels: 139.05,138.75, and 138.00

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Global macro overview for 03/04/2017

Global macro overview for 03/04/2017:

The Australian Bureau of Statistics data showed that the Australian Retails Sales decreased -0.1% last month. The data were worse than expectations of 0.3% increase and worse than last month 0.4% increase. Nevertheless, the biggest increase had been reported in food retailing ( 0.3% in February), whereas clothing, footwear and personal accessory retailing was unchanged. Sales at household good retailers and department stores edged down 0.1%. In terms of regions, retail sales were positive in the regions of New South Wales, Victoria, and South Australia. Negative retail sales were reported in Queensland. In conclusion, retail sales are an important part of the Australian economy and were responsible for solid gains in GDP at the end of 2016 (2.4% increase), so let's hope this in not the beginning of a decline in retail sales. Next set of data and especially next quarterly data will shine more light on the situation.

Let's now take a look at the AUD/USD technical picture at the H4 timeframe. The bears have to manage to retrace 61% if the previous swing up, but the rally upward failed at the level of 0.7679. Since then the market is sliding again towards the 61%Fibo at the level of 0.7590. Any violation of this support will result in downward rally towards the level of 0.7539.

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Global macro overview for 31/03/2017

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Global macro overview for 31/03/2017

Daily analysis of major pairs for April 3, 2017

EUR/USD: The EUR/USD pair tested the resistance line at 1.0900 last week and then nosedived to almost test the support line at 1.0650. This has now resulted in a Bearish Confirmation Pattern in the chart and the price could move further and further southwards, testing the support lines at 1.0600 and 1.0550. The outlook on EUR pairs is bearish for April and dips would be witnessed in most cases.

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USD/CHF: This pair went upwards last week after testing the support level at 0.9850. From that support level, the price went upwards by 180 pips, closing above the support level at 1.0000 which is a significant psychological level. The next targets for this week are located at the resistance levels of 1.0050 and 1.0100 which would render the recent bearish outlook on the market invalid. The movement on the USD/CHF pair would largely be determined by whatever happens to the EUR/USD pair.

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GBP/USD: In spite of what happened here last week, the Cable remains bullish. The price went slightly upwards in the beginning last week and then fell towards the accumulation territory at 1.2400 and then rose towards the distribution territory at 1.2550. The Price would rise further upwards, testing the distribution territory at 1.2600 (which was also tested last week). GBP pairs would trend upwards and downwards strongly this month; though most movement would be downwards.

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USD/JPY: This currency trading went upwards by 170 pips last week – in a bullish trend that was not as strong as it was expected. The price could go further upwards, but that would not be strong, because the hope of any significant rally on the USD/JPY pair is gone. In fact, the outlook on the market (as well as other JPY pairs) is bearish. Long-term long trades are not currently recommended.

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EUR/JPY: The EUR/JPY consolidated from March 22 to March 31, in the context of a downtrend. The price broke southwards on March 31, closing below the supply level at 119.00 that day. The expectation of any meaningful bullish movement is now invalid, as the outlook on JPY pairs is bearish for April; plus the EUR/JPY pair would be going further and further south as EUR shows more weakness.

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Trading plan for 03/04/2017

Trading plan for 03/04/2017:

The opening of the week brings undecided trades with the USD at mid-rate. Weak data from Australia and China will pull down AUD with European currencies doing best. The stock market starts a quarter of gains, oil and gold are stable.

The trading on the 3rd of April will be dominated with the PMI Manufacturing news that will be released during the trading sessions from across the Eurozone, United Kingdom and the United States.

EUR/USD analysis for 03/04/2017:

The most important PMI Manufacturing data for the whole Eurozone is scheduled for release at 08:00 am GMT. The market participants do not expect any surprises here as the anticipated number is still at the level of 56.3 points. It means that this sector of the economy is still expending and business conditions are increasing. Please notice that manufacturing is responsible for almost a quarter of Eurozone GDP.

Let's take a look at the EUR/USD technical picture at the H4 time frame. The market had closed at the level of 1.0651 in Friday and any violation of this level would lead to the golden trend line test around the level of 1.0635. If the data will be worse than anticipated, then the bears might even break the trend line and head towards the next technical support at the level of 1.0600.

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GBP/USD analysis for 03/04/2017:

Another PMI Manufacturing data, this time for the UK, is scheduled for release at 08:00 am GMT. The market participants expect an increase from 54.6 points to 55.1 points, which means the monthly gauge of manufacturing activity in the UK will be stronger again. If the number will be better than expected, then this will be the highest PMI figure since August 2016.

Let's now take a look at the GBP/USD technical picture at H4 time frame. There is a clear bear flag trading pattern at this time frame, so as long as the swing top at the level of 1.2615 is not violated, the bias will be to the downside. Worse than expected data might accelerate the sell-off towards the next technical support at the level of 1.2453.

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USD/JPY analysis for 03/04/201:

The last manufacturing data will be released at 02:00 pm GMT and this time it will be ISM Manufacturing data from the US. The market participants expect a slight decrease in the pace of manufacturing productivity for the last month (from 57.7 to 57.2 points), but the overall outlook for this part of the economy remains positive.

Let's now take a look at the USD/JPY technical picture at the H4 time frame. The bulls have managed to retrace 38% of the previous swing down, but the overbought market conditions suggest a temporary correction to the downside. The price is trading below the golden trend line and the next technical support is seen at the level of 111.12.

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Technical analysis of USDX for April 3, 2017

The Dollar index continued its bounce higher on Friday after the selling pressures in its main component the EUR/USD pair. Trend remains bullish in the short term as long as the price is trading above 100.20. There are signs of a correction coming. The next pullback will be very important.

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Blue line - resistance

Black line - neckline support

Green line - long-term trend line support

The Dollar index is bouncing towards the Ichimoku cloud in the daily chart. The 100.80 level is important daily resistance. A rejection here and a lower high will be a bearish signal frontrunning another selling pressure to push the index below the black neckline support. Another break below the black neckline support will be a very bearish sign. Breaking the green trend line support will also be a bearish sign. On the other hand, the bulls need to break above 101.80-102 price area in order to strengthen the bullish scenario.

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Technical analysis of gold for April 3, 2017

Gold price continues to trade below important resistance of $1,250-55 inside a bearish channel. Gold could continue towards $1,240 but overall we remain bullish looking for $1,300-$1,320 over the next couple of weeks.

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Red lines - bearish channel

Short-term resistance is found at $1,252-55 area. Support is at $1,240. If resistance is broken I would expect Gold price to move towards $1,280. If support fails we should move towards $1,220. Short-term trend is neutral as the price is inside the cloud.

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Black line -long-term resistance

Blue line- long-term support

Gold is inside the weekly cloud. Long-term trend is neutral as long as the price is below the black trend line resistance. I expect this resistance trend line to be tested soon. The bulls must not break below the upwards sloping blue trend line support. This means that a break below $1,194 will be a bearish sign.

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Technical analysis of EUR/USD for Apr 03, 2017

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When the European market opens, some Economic Data will be released, such as Unemployment Rate, PPI m/m, Italian Monthly Unemployment Rate, Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. The US will release the Economic Data, too, such as Total Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0720.

Strong Resistance:1.0713.

Original Resistance: 1.0703.

Inner Sell Area: 1.0693.

Target Inner Area: 1.0668.

Inner Buy Area: 1.0643.

Original Support: 1.0633.

Strong Support: 1.0623.

Breakout SELL Level: 1.0616.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Technical analysis of USD/JPY for Apr 03, 2017

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In Asia, Japan will release the Final Manufacturing PMI, Tankan Non-Manufacturing Index, Tankan Manufacturing Index data, and the US will release some Economic Data, such as Total Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 111.89.

Resistance. 2: 111.67.

Resistance. 1: 111.45.

Support. 1: 111.19.

Support. 2: 110.97.

Support. 3: 110.75.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

The material has been provided by InstaForex Company - www.instaforex.com

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