At 1:30 am on Tuesday we start with the Australian interest rate. A maintenance of 10 basis points is expected. The main AUDUSD crossover will finally have a winner in the 0.76 zone. We maintain a preference over buyers for this event. Wednesday 3:00 pm Eastern we continue with the FOMC meeting. The expectation for this event is high a reason for possible new bond buys, the last FED event was barish for the dollar. Last Friday’s employment data could have a disappointing impact on the FOMC this Wednesday. Investors in gold and silver commodities would be on the lookout for buys during the release of the minutes. We close the week with Canadian employment data, an improvement in unemployment is forecast with a rate of 8%. The main operating cross in this event is the USDCAD, where we effectively expect possible buyers in the Canadian dollar, consequent fall of the cross for Friday.
Weekly market projections April 05 to 09
EURUSD closed its week below area highs. Despite the lack of buyers on Friday’s closing day, the price managed to stabilize above 1.1750. Buy preference for the coming week. > 1.1750 to 1.1780. If, on the other hand, it opens on Monday below 1.1750, we will sell until 1.1730. The buy reversal could occur if the price enters 1.18 again next week. If the market reaches the 1.18 levels, we may be facing buy scenarios for the next few months.
GBPUSD closed its week below highs of 1.3850. However, the market gained strength above 1.38 and remains buy. Buy preference> 1.3830 to 1.3850. If it fails to stay above 1.3830 we will wait for sellers below 1.38. The market is already positioned to buy at this junction. The strategy at the moment is only buy.
USDJPY closed bought and held on buy. This cross presents important highs between the levels of 110.70 and 110.90 so we avoid trading here until we see profit taking. Sell preference below 110.50 to 110.30. Below 110.30 I enter with sell strategies for the next week.
USDCAD closed sold. Sell preference below 1.26. We expect sellers at 1.2560 to 1.2550. High caution between those area lows. Once the sale intervals are completed, we return to buy strategies above 1.2550. At the opening of Monday the market manages to position itself at 1.2580 we could consider buys up to 1.26.
AUDUSD closed below its area highs. The cross remains in consolidation between the highs of 0.7620 and 0.76. Below 0.76 we go for sell up to 0.7580 and 0.7560. We avoid buys below 0.7620 and 0.7630, it is convenient to wait for buyers and then maintain strategies for sell. A strategic turn will only be above 0.7650.
XAUUSD XAGUSD closed bought. Metallic commodities closed bought in the week. Silver we prefer to wait 25.0 to buy until a first target at 25.22, between 25.0 and 25.20 there is an important area of consolidation that does not guarantee buyers yet, while that does not happen we remain out of the market. In GOLD we still do not have the minimum price necessary to go for buys. We will wait for the price to stabilize between 1730.0 and 1735.0 to eventually consider buy. Meanwhile, we will stay out of the market.
BTCUSD the bitcoin closed buy in the week. This area is one of high potential for profit taking, we do not consider prudent entries between 59,000 and 60,000. It is preferable to wait for corrections (price falls) and analyze possibly better entry points during the week.