Apr 12 2021 0

No major news will be published today so we expect a quiet and peaceful market to come.

Latest updates:

  • Mr. Powell commented that he did not want to go back to a period of bad inflation in the past.
  • The dollar rebounded in the weekend session, but was still anchored near a 2-week low following disappointing unemployment data numbers on Thursday and the Federal Reserve showing no signs of changing its extremely loose monetary policy.
  • The UK's vaccine advantage is increasingly being damaged by growing concerns about Britain's reliance on the AstraZeneca vaccine (NASDAQ: AZN) to continue its successful immunization program.
  • The leaders of the US Senate Foreign Relations Committee enacted legislation on Thursday to strengthen the country's ability to repel China's expanding global influence by promoting human rights, providing security aid and investment.

USD/JPY

USD/JPY Apr 12

After many sessions of sharp decline, prices have recovered as expected. However, we still cannot return to the current uptrend because the signal is not really clear. In the new session, trend traders should pay attention to observe the area 110. If the price can break this area, then we should consider exploration orders. Only fill more positions when the price breaks down to 111, confirming the continuation of the bullish structure. For the sellers, you also need to observe the 110 zone closely, but I do not encourage you to trade at this time.

EUR/USD

EUR/USD Apr 12

After breaking the 1.19 level and invalidating the pin bar pattern on both the daily and the H4 chart, the price did not increase but leveled off around this area. However, selling pressure is not really worrying. If you have orders to buy, you can keep them. Place the Stop Loss below the 1.19 zone with a price target of 1.20.

GBP/USD

GBP/USD Apr 12

The price is continuing to fall as expected and has approached the support zone of 1.367 with some signal of price decline. With the price target around the uptrend line not far away, you should consider partially exiting the order to preserve profits. It is likely that the buyers will ambush around 1.360 - 1.365. Hence, price action around this zone will reveal clues as to where the price is going next.

USD/CAD

USD/CAD Apr 12

There was still a struggle between the sellers and buyers on the USD/CAD chart. The range is continuing and we should not trade since this zone has not been completely broken yet.

AUD/USD

AUD/USD Apr 12

The price hasn't changed too much and is still stuck in a tight range. For now we still have a medium - to - long order for AUD/USD. Place the Stop Loss below the 0.750 zone. The most important price area to watch out for now is 0.77, because when it is broken, the reversal pattern will be confirmed and the downtrend line will also be broken. You might consider adding buy orders. For the short - term traders, the target is around 0.78.

author

Fanara Filippo

Hey, I’m Fanara Filippo. I’m the founder of this site. I'm currently living in Bangkok, Thailand. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Let’s review brokers today.

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