Forex Top Team

EUR/USD: Strong Sell – Currency of Interest and Technical Analysis (15-minute chart) April 1, 2024

EUR/USD: Strong Sell – Range Trend
The Euro/Dollar pair is trading around 1.0790, experiencing low market activity and “bearish” pressure. With European exchanges closed for Easter, investors are focusing solely on data from the United States, particularly March statistics from ISM and S&P regarding manufacturing business activity. Additionally, Germany’s inflation statistics for March are scheduled for tomorrow, with Eurozone-wide data to follow on Wednesday.

GBP/USD: Sell – Range Trend
The British Pound/Dollar pair is testing a breakout at 1.2630, awaiting new market movements. European and UK exchanges are closed today for Easter, but in America, statistics on manufacturing business activity will be published at 16:00 (GMT+2). Investors are also keen on data regarding the UK’s house price index.

AUD/USD: Sell – Range Trend
The Australian Dollar/Dollar pair is testing the 0.6520 level, finding support. Macroeconomic statistics from China have been supportive, especially the Caixin Manufacturing PMI exceeding expectations. Today, the United States is also set to release statistics related to business activity. Tomorrow will see data on business activity in Australia’s manufacturing sector and updated inflation data from TD Securities being assessed.

USD/JPY: Buy – Range Trend
The Dollar/Yen pair is showing mild growth around 151.40, with market participants cautious about opening new “bullish” positions. The market is attentive to the possibility of foreign exchange intervention by the Bank of Japan. Today in Japan, data related to business activity, including the Bank of Japan’s Tankan and the large manufacturers’ index, were released.

XAU/USD: Sell – Sharp Increase
The Gold/Dollar pair is developing the “bullish” dynamics formed last week, testing a breakout at 2260.00. With European markets closed for Easter, market activity is subdued, but data on business activity from the United States is awaited. This weekend, the U.S. labor market report for March is expected to be released.

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