FOREX CHART ANALYSIS APR 28 - IMPORTANT SIGNALS

Apr 28, 2020
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The market is quite peaceful since there is not much data for the price to move. There are only small changes signaling a big wave. Check out our chart analysis below and choose the most suitable forex trading strategies.

Phiên đầu tuần chưa có dữ liệu quan trọng nên thị trường khá bình lặng. Giá chỉ đang có những thay đổi nhỏ mang tính bước đệm.

Latest updates

  • British Prime Minister Boris Johnson has returned to Downing Street for the first time since he was admitted to hospital for coronavirus on April 6. Mr. Johnson is also facing many investigation requests about the delay in responding to the epidemic.
  • New York Governor Andrew Cuomo said that New York will eventually reopen in stages as the CDC said state and regional hospital admissions had dropped in 14 days. He also reported that the total number of hospitalizations in New York had dropped to a level seen on March 31, almost a month ago. Construction and manufacturing businesses will be the first to be allowed to reopen.
  • Italian Prime Minister Giuseppe Conte said the easing order could start on May 4. The park will reopen, but schools will not reopen until September.
  • Bank of Japan has pledged to buy an unlimited number of government bonds to combat the economic collapse from the coronavirus pandemic.
  • In China, industry group companies continue to report falling profits because of the impact of the disease.

USD/JPY

 

USDJPY is starting to show signs of going down. The support zone 107 has been tested again and there is no sign of significant resistance from the buyers. Continue to keep the old view: Wait for a real breakout out of the 107 zone and sell short. The target is around 105 zone.

EUR/USD

After the false-break we mentioned, prices recovered but were stopped at the MA20 on the daily chart and the bulls could not sustain the pressure, eventually creating a small bearish pin bar. This price action is somewhat detrimental to the buyers. Therefore, be wary of the possibility of a falling back. Only buy with low volume to test first. When the 1.088 zone is showing signs of breaking down, it is necessary to consider open more long positions.

GBP/USD

New price action on GBPUSD is showing that buyers may be at a disadvantage. The price continued to recover and violated the MA20 line on the daily chart. However, it is not enough to make us change the view. In the short term, it is likely that the price will approach the confluence area of 1.250. If there is a bearish signal, anyone who hasn't got a short order can enter this price area. In general, unless the price creates a new peak, we’re keeping the old view. 

USD/CAD

With USDCAD, the price is testing the area of 1.40 quite a few times in a short time, increasing the probability that this price area will be broken and the ability to adjust down to 1.387. However, as stated many times before, the current buy orders are for the medium term and we only change the view when the bottom of 1.387 is broken.

AUD/USD

On AUDUSD, the conversion zone 0.645 is showing signs of breaking down. Although the breakout force was not strong, the buying side was able to keep this price level, showing that it is likely to go ahead. Following these signals, we will prioritize buying in the current uptrend and target the 0.665 zone.