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Valutrades Market Blast

   

9 April 2019

Market Blast 9 April 2019

Welcome to this week’s Market Blast.

The major economic news has been crammed in to tomorrow and Thursday and there is a lot of which to be aware.

The UK will be announcing GDP and Manufacturing production stats and we expect no change to the ECB Interest rate.

Many traders have been range trading EURGBP for months with the Brexit circus and the European Central Bank running out of tools to control its economy.

Also, we see EURAUD heading back to support into a descending triangle so watch for a break either way.

EURAUD 09-04-2019

Cable, as well shows us consolidation and, with Brexit and US - China trade talks ongoing, we could see big breaks either way.

GBPUSD 09-04-2019

OPEC will be meeting this week as well and this Daily chart on WTI tells the story of Bulls to Bears and back to Bulls.

Currently at $64 per barrel, this is a key level so any news could send the price of crude either way.

Of course, this will always affect the Loonie so watch USDCAD this week as the Daily chart shows us this triple top at a key level of $1.33.

Also, with American CPI, PPI and FOMC minutes due this week, this will affect USDCAD and all the US Majors.

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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