High Impact Trading Week April 19-23

Wednesday 11:00 am ET the Canadian interest rate is published, this data will mainly impact upward on the Canadian dollar in fundamental terms. The market could discount the information from the open on Monday and have a downward impact on the dollar. Thursday 8:45 am ET is the turn to update the interest rates of the European Union. A maintenance of interest rates is expected followed by a press conference that would encourage the results of the new Recovery Fund of 800 billion euros. This Fund was created with joint loans from the European Union.

However, an emergency appeal in Germany’s high court has halted the fund’s ratification. The court should decide in the coming weeks on the lawsuit filed by Germany. The week ends with production data in the manufacturing sector from France and Germany. Mixed data is expected for both countries. The manufacturing sector has not been affected since the beginning of the pandemic. The production results have been with an average increase in the last four semesters

Market projections for the week of April 19-23. Contact us here!

EURUSD closed buy. The price keeps averaging higher. The highs of 1.20 remain. The preference is to buy only for 1.20 until 1.2020 and 1.2030. If Monday’s opening is sell, we will wait for a sell correction. Sell are only timely below 1.1970 through 1.1960 and 1.1950.

GBPUSD closed buy. Buy preference over 1.3850 to 1.3870 and possible 1.39. No sell correction would be expected during the week, only buy strategies exceeding highs.

USDJPY closed unchanged. Below 109.0 it remains sell. Important consolidation between 108.80 and 108.70. We could have a correction of the dollar to the upside in the week, we expect to sell closer to 109.0.

USDCAD closed sell. High buy potential in the current market area. Buys are expected from 1.2520 to 1.2530. If the price opens below 1.25 at the open it will return to its consolidation levels between 1.2480 and 1.2470. These prices are not operational as they are minimums in the area. On Wednesday the Canadian interest rate will be presented. It could be a reason to exit the crossing of its sell levels to finally buy up to 1.26.

AUDUSD closed buy. Important zone of consolidation at highs. Sell preference below 0.7725 to 0.7710. Buys are expected above 0.7760 to 0.7790. Both scenarios are viable next week.

XAGUSD XAUUSD Gold and silver closed buy. In silver we wait again on 26.0 to buy until 26.20 and extension at 26.30. We could expect a take profit below 26.0 through 25.70, 25.60 and 25.50. Strategically, the buy preference remains for the coming week. Gold closed buy. Prefer to wait 1780.0 to enter the next level of 1787.0 possible 1800.0. Below 1770.0 we would expect to take profit up to 1760.0.

Bitcoin closed below its area highs zone. We expect 62,000 for new buys up to 62,800 and possible 63,000. Over 63,000 it would go to 64,000 and 64,700.