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Market Blast

   

Market Blast 16 April 2019

16 April 2019

Welcome to this week’s Market Blast.

Let’s jump straight into the Economic News, as there is a lot this week, from most major regions so check you calendars before trading.

OPEC will be meeting tomorrow and we will want to see how any decisions on production will affect the price of Crude.

We are currently over $63 with a slight break in the bull run over the last few days so we may continue to head toward the lower trend line of this may be an opportunity to “buy the dip”.

We see that the bull run on USDJPY may have stalled at this level of resistance at just over 112 Yen and we see, as well, an ascending triangle, so watch for a break this week.

USDJPY 2019-04-16 10.29.20

Speaking of Japan, the Nikkei has broken a key level and its rally from the beginning of the year may have it heading to the next level which acted as resistance 4 times last year, which finally broke in September.

JP225 2019-04-16 10.29.38

If you caught our blogs last week on EURUSD we are still looking at the upper trend line on the technical side but, on the fundamental side, the ECB may be running out of tricks and, combined with USD strength, we may see the downward trend continuing.

EURUSD 2019-04-16 10.29.54

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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