Alpari - Analytics

Alpari

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Daily analytical report (06/04/17)

  • FOMC didn't bring about any major movements on the currency market. Only stocks were strongly influenced by this event.
  • EURUSD is still in a sideways trend waiting for a breakout. Daily change is around 50 pips and it seems that we are all waiting for the NFP, which will be released on Friday. Payrolls can be a trigger for a breakout and the beginning of a new mid-term trend, but for now, we just have to be patient.
  • Gold had a rough Wednesday. First, we started with a dangerous bounce from the mid-term highs, but at the end of the day, buyers managed to pull prices higher. We can still see some pressure from buyers here and it looks like traders are getting ready for a bullish breakout.
  • AUDNZD is in a symmetric triangle above the down trendline and a neckline of the iH&S. That creates a positive sentiment here and give hints that this triangle should result in a further upswing.


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