Forex Top Team

NZD/USD: Strong Buy – Currency of Interest and Technical Analysis (15-minute chart) April 2, 2024

EUR/USD: Strong Buy – Range Trend
The Euro/Dollar pair is developing strong “bearish” momentum formed the previous day and is testing a breakdown at 1.0730. Traders are cautious about opening new positions ahead of the release of Germany’s inflation statistics. Additionally, data on the manufacturing sector’s business activity in the Eurozone is also scheduled to be released.

GBP/USD: Strong Buy – Range Trend
The British Pound/Dollar pair is testing a breakdown at 1.2540, developing “bearish” signals. It is under pressure from statistics on U.S. business activity. Against this backdrop, forecasts regarding the possibility of monetary policy easing by the Federal Reserve are beginning to be reconsidered.

NZD/USD: Strong Buy – Range Trend
The New Zealand Dollar/Dollar pair is developing short-term and medium-term downward trends and is testing a breakdown at 0.5945. Traders are waiting for the emergence of new price movements, particularly focused on statistics on industrial orders from the United States.

USD/JPY: Strong Buy – Range Trend
The Dollar/Yen pair is showing mild growth and continuing “bullish” momentum. Concerns over the possibility of foreign exchange intervention by the Bank of Japan are restraining growth. The mixed statistics released yesterday from Japan have also attracted market attention.

XAU/USD: Strong Buy – Sharp Increase
The Gold/Dollar pair is showing sharp growth in response to the strong U.S. business activity statistics released the previous day. Gold continues to be supported by expectations of rate cuts by major central banks worldwide. Additionally, the demand for physical gold by global banks continues to support estimates.

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