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    Weekly Technical Analysis Report week 27/04/2015

    CAD/JPY – Will the Pair Retrace Once Again to the Downside?

    The pair has been escalating since the 31st of March, 2015. Based on last Friday’s data, the pair climbed as high as 98.68, a major resistance level. The downtrend scenario has greater chances of prevailing this week.

    In the event that the downside pressures overcome upside ones the pair could decline as low as 93.77, provided that there is a sufficient break below the 95.62 level.

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

    Alternatively, a break above 98.68 could force the pair toward the 99.99 level and possibly even higher.



    GBP/JPY – Will the Pair Decline this Week?

    GBP/JPY was able to retrace once again to the upside since the 14th of April, 2015. Based on last week’s data, the pair has a greater possibility to retrace downwards from 180.92.

    In the event that the bearish pressures overcome bullish ones the pair could drop as low as 175.51, provided that there is a sufficient break below the 179.14 and 177.19 levels respectively.

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

    In contrast, a break above 180.92 could be a strong indication that the pair can resume rising toward 182.76 and even higher.


     

    Major Weekly Events

    Date

    Time (GMT)

    Event

    Currency

    Monday, April 27, 2015

    22:40

    Australia - RBA's Governor Glenn Stevens Speech

    AUD

    Wednesday, April 29, 2015

    12:30

    United States - Gross Domestic Product Annualized (Q1)

    USD

     

    18:00

    United States - Fed Interest Rate Decision

    USD

     

    21:00

    New Zealand - Monetary Policy Statement

    NZD

     

    21:00

    New Zealand - RBNZ Interest Rate Decision

    NZD

    Thursday, April 30, 2015

    03:00

    Japan - BoJ Monetary Policy Statement

    JPY

     

    N/A

    Japan - BoJ Interest Rate Decision

    JPY

     

    07:55

    Germany - Unemployment Change (Apr)

    EUR

     

    07:55

    Germany - Unemployment Rate s.a. (Apr)

    EUR

     

    09:00

    European Union - Consumer Price Index (YoY) (Apr)

    EUR

     

    09:00

    European Union - Consumer Price Index - Core (YoY) (Apr)

    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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