Welcome to this week’s Market Blast.

Welcome to this week’s Market Blast.

Welcome to this week’s Market Blast.

Market Blast 16 April 2019

Looking at the H4 on Gold, we see a bounce off this key level of $1323 and this upper trend line.

If we trade with the trend we will look for a bounce off this lower trend line but if we break below we have a few key levels to watch below.

Over the last month the Pound has gained substantially and we see some familiar consolidation patterns forming so watch for breakouts from these trendlines. However, technical analysis often takes a back seat to Fundamentals in London with more Brexit chaos looming.

In fact, the economic calendar is full of events this week, from almost every region, including interest rate decisions in the US, the UK and Switzerland.

This is our 50th week and we hope you are enjoying this feature from Valutrades.

This week we have seen most major stock indices returning to former levels with the DAX approaching resistance. So?  Why isn’t the UK’s FTSE 100 doing the same?

Gold shorts are doing well since the peak 2 weeks ago.We are currently at a key level and a break below could see us hit $1278 and lower.

Looking at the US majors we are seeing dollar strength on most pairs and we are at or near key levels on most so we will have lots to watch this week.

Cable and the GBP pairs are back in focus with a possible delay to the Brexit deadline which is helping the pound.

Will this be a short delay or a long delay?  This will determine the level of pound strength and we are near support on EURGBP and watch the next key levels on GBPUSD and GBPCAD.