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10.04.2020

GBP/USD: wave analysis

The pair is in a correction, a fall is possible.

On the daily chart, the third wave of the higher level (3) of V develops, within which an upward correction forms as the wave 4 of (3). Now, the wave c of 4 is developing. If the assumption is correct, after the end of the correction, the pair will fall to the levels of 1.1177–1.0687. In this scenario, critical stop loss level is 1.2738.

EUR/USD: wave analysis

The pair may grow.

On the 4-hour chart, the third downward wave of the higher level 3 develops, within which the first wave i of 3 formed. Now, an upward correction is developing as the second wave ii of 3, within which the wave (b) of ii has formed, and the wave (c) of ii is developing. If the assumption is correct, the pair will grow to the levels of 1.1170–1.1241. In this scenario, critical stop loss level is 1.0768.

EUR/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (117.58). The closest resistance level is the lower border of the cloud (118.71).

EUR/CHF: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.0450). The closest resistance level is Tenkan-sen line (1.0610).

AUD/CAD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (0.8764). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.8991).

Consumer Price Index. China, 03:30 (GMT+2)

At 03:30 (GMT+2), data on the consumer price index in China for March will be released. It is the main indicator of the inflation rate in the country, which determines the change in the level of retail prices for a certain “basket” of goods and services: food, transportation, utilities, healthcare and so on. It has a significant impact on monetary policy decisions. It is expected that CPI will decrease from 5.2% to 4.8% YoY from 0.8% to –0.7% MoM.

09.04.2020

GBP/AUD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.9511). The closest resistance level is Tenkan-sen line (1.9839).

GBP/NZD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is going to reverse from ascending to descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (2.0241). The closest resistance level is Tenkan-sen line (2.0631).

Key Releases

The US currency is weakening today to the euro and the pound and has ambiguous dynamics with the yen. Published yesterday, the minutes of the last Fed meeting showed that the regulator decided to bring the interest rate to zero and keep it at that level until the US economy overcomes the consequences of the coronavirus epidemic.

EUR/GBP: Ichimoku clouds

On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.8650). The closest resistance level is Tenkan-sen line (0.8850).