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    Weekly Technical Analysis Report week 20/04/2015

    CAD/JPY – Will the Pair Drop this Week?

    The pair has been escalating since the 31st of March, 2015. Based on last Friday’s data, the pair climbed once again toward higher levels. The bearish scenario has greater chances of prevailing this week.

    In the event that the bearish pressures overcome bullish ones the pair could decline as low as 95.51, provided that there is a sufficient break below 96.65 and 96.09 levels.

    The stochastic oscillator confirms the bearish trend by indicating that the price is now oscillating at overbought levels, around 80.4124.

    Alternatively, a break above 98.41 could force the pair toward the 99.72 level and even higher.



    NZD/USD – Will the Pair Decline this Week?

    NZD/USD has been rising higher and higher with no intentions whatsoever of retracing to the downside. Based on last week’s data, the pair has a greater possibility to retrace downwards from 0.7742.

    In the event that the bearish pressures overcome bullish ones the pair could drop as low as 0.7184, provided that there is a sufficient break below the 0.7537 and 0.7393 levels respectively.

    The stochastic oscillator confirms the bearish scenario by indicating that the price has for some time now stabilized at 80.4124, generating a strong resistance at this level.

    In contrast, a break above 0.7742 could be a strong indication that the pair can resume rising toward 0.7883 and even higher.


     

    Major Weekly Events

    Date

    Time (GMT)

    Event

    Currency

    Monday, April 20, 2015

    14:05

    Canada - BoC Governor Poloz Speech

    CAD

     

    16:30

    Australia - RBA's Governor Glenn Stevens Speech

    AUD

    Tuesday, April 21, 2015

    09:00

    Germany - ZEW Survey - Economic Sentiment (Apr)

    EUR

    Wednesday, April 22, 2015

    01:30

    Australia - Consumer Price Index (YoY) (Q1)

    AUD

     

    08:30

    United Kingdom - BOE MPC Vote Cut

    GBP

     

    08:30

    United Kingdom - BOE MPC Vote Hike

    GBP

     

    08:30

    United Kingdom - BOE MPC Vote Unchanged

    GBP

     

    10:00

    European Monetary Union - G7 Meeting

    EUR

    Friday, April 24, 2015

    00:00

    European Monetary Union - Eurogroup meeting

    EUR

     

    Please note: The content in this weekly market analysis should not be taken as investment advice. It comprises our personal view.


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