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pipstealer · Apr 8, 2020

Daily Free Forex Signals For 07/04/2020 FROM RFXSIGNALS
USDJPY SELL-108.680
SL-109.301
TP1-108.349
TP2-108.085

EURUSD BUY -1.08276
SL-1.07868
TP1-1.08533
TP2-1.08787

USDCHF SELL-0.97571
SL-0.97904
TP1-0.97359
TP2-0.97087
USDCAD SELL-1.40466
SL-1.41335
TP1-1.40143
TP2-1.39787
EURCHF BUY -1.05667
SL-1.05315
TP1-1.05847
TP2-1.06088

EURJPY SELL: 117.688
SL: 118.282
TP1: 117.472
TP2: 117.251

EURGBP BUY: 0.88286
SL: 0.87505
TP1: 0.88495
TP2: 0.88707

USDJPY SELL: 108.699
SL: 109.374
TP1: 108.494
TP2: 108.286

EURAUD BUY-1.76819
SL-1.75318
TP1-1.77605
TP2-1.78713

USDCHF SELL: 0.97455
SL: 0.98037
TP1: 0.97244
TP2: 0.97033

GBPJPY SELL: 133.445
SL: 134.616
TP1: 133.205
TP2: 132.965

EURUSD BUY: 1.08427
SL: 1.07670
TP1: 1.08633
TP2: 1.08853

USDJPY SELL-108.725
SL-109.529
TP1-107.890
TP2-106.963

GBPCHF SELL: 1.19602
SL: 1.20699
TP1: 1.19355
TP2: 1.19068

EURCHF BUY: 1.05723
SL: 1.05411
TP1: 1.05947
TP2: 1.06185
CHFJPY SELL: 111.358
SL: 111.843
TP1: 111.139
TP2: 110.919

GBPJPY BUY 133.940
SL:132.674
TP1:134.271
TP2:134.545

EURAUD SELL 1.75760
SL:1.80997
TP1:1.75450
TP2:1.75125

AUDNZD BUY 1.02777
SL:1.02136
TP1:1.03083
TP2:1.03379

AUDCAD BUY 0.86606
SL:0.85383
TP1:0.86914
TP2:0.87258

pipstealer · Apr 8, 2020

The Australian Dollar raised a little. Overview for 07.04.2020 FROM RFXSIGNALS
07.04.2020
On Tuesday, AUDUSD is keeping the positive momentum started yesterday.
The Aussie has been strengthening against the USD for the second trading session in a row. The current quote for the instrument is 0.6163.
A scheduled meeting of the Reserve Bank of Australia ended without any surprises. The benchmark rate remained at the lowest level 0.25%, just as expected. Other basic parameters of the regulator’s monetary policy also remained intact.
The RBA reaffirmed the yield on 3-year Australian government bonds of 25 bps. It’s very important for maintaining financial stability in the country’s economy.
In the comments, the regulator said that fiscal programs together with coordinated monetary influence might help “smooth” the economic contraction. External risks include the coronavirus pandemic but global economies are expected to recover as soon as the outbreak is contained. In the second quarter of 2020, most global economies, including Australia, will see a significant slump accompanied by the decline of the labor market and the dramatic increase in the unemployment rate.
However, if the market conditions get better, the Reserve Bank of Australia will have to buy fewer bonds.

pipstealer · Apr 8, 2020

Japanese Candlesticks Analysis 07.04.2020 (USDCAD, AUDUSD, USDCHF) FROM RFXSIGNALS
07.04.2020
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after forming a Hammer pattern and reversing, USDCAD has tested the channel’s upside border. At the moment, the pair is still rebounding from the resistance level to continue the descending tendency. In this case, the downside target may be at 1.3920. At the same time, there might be another scenario, which implies that the instrument may re-test the channel’s upside border and grow towards 1.4300.

Japanese Candlesticks Analysis 07.04.2020 (USDCAD, AUDUSD, USDCHF)

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the pair continues the ascending tendency. After completing an Inverted Hammer pattern near the rising channel’s downside border, AUDUSD is reversing. Later, the price may continue trading upwards to reach 0.6333. Still, the instrument may choose a different scenario and continue falling towards 0.6000.

Japanese Candlesticks Analysis 07.04.2020 (USDCAD, AUDUSD, USDCHF)

USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the pair continues forming the ascending channel. By now, USDCHF has formed a Doji pattern near the resistance level. The current situation suggests that after reversing the pair may start a slight correction and then continue the ascending tendency. In this case, the upside target may be at 0.9868. However, one shouldn’t ignore another scenario, which implies a deeper correction towards 0.9645.

Japanese Candlesticks Analysis 07.04.2020 (USDCAD, AUDUSD, USDCHF)

pipstealer · Apr 8, 2020

Ichimoku Cloud Analysis 07.04.2020 (BTCUSD, AUDUSD, USDCAD) FROM RFXSIGNALS
07.04.2020
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is trading at 7240.00; the instrument is moving above Ichimoku Cloud, thus indicating a bullish tendency. The markets could indicate that the price may test the cloud’s upside border at 7105.00 and then resume moving upwards to reach 7845.00. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 6685.00. In this case, the pair may continue falling towards 5965.00.

Ichimoku Cloud Analysis 07.04.2020 (BTCUSD, AUDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.6146; the instrument is moving above Ichimoku Cloud, thus indicating a bullish tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6115 and then resume moving upwards to reach 0.6455. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.5895. In this case, the pair may continue falling towards 0.5805.

Ichimoku Cloud Analysis 07.04.2020 (BTCUSD, AUDUSD, USDCAD)

USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.4049; the instrument is moving below Ichimoku Cloud, thus indicating a bearish tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.4125 and then resume moving downwards to reach 1.3775. Another signal to confirm further descending movement is the price’s rebounding from the downside border of a Triangle pattern. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.4255. In this case, the pair may continue growing towards 1.4335.

Ichimoku Cloud Analysis 07.04.2020 (BTCUSD, AUDUSD, USDCAD)

pipstealer · Apr 8, 2020

Fibonacci Retracements Analysis 07.04.2020 (EURUSD, USDJPY) FROM RFXSIGNALS
07.04.2020
EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD slowed down its sideways movement, which may be considered as a correction of the previous ascending wave. The support is still the low at 1.0635. If the bulls are strong enough to break 38.2% and 50.0% fibo at 1.1370 and 1.1595 respectively, the long-term tendency may reverse.

Fibonacci Retracements Analysis 07.04.2020 (EURUSD, USDJPY)

As we can see in the H1 chart, the convergence forced the pair to stop the descending correction at 76.0% (1.0758) and start a new growth. The key target is the local high at 1.1147. In order to reach it, the instrument will have to break 23.6%, 38.2%, 50.0%, 61.8%, and 76.0% fibo at 1.0857, 1.0913, 1.0959, 1.1002, and 1.1055 respectively.

Fibonacci Retracements Analysis 07.04.2020 (EURUSD, USDJPY)

USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after completing the descending correction at 38.2% fibo, USDJPY is trying to start a new rising wave. The upside targets may be the local and key highs at 111.71 and 112.23 respectively. However, if the pair fails to rise, the next descending wave will trade towards 50.0%, 61.8%, and 76.0% fibo at 106.44, 105.22, and 103.70 respectively or even lower, the post-correctional extension area between 138.2% and 161.8% fibo between 101.48 and 99.66 respectively.

Fibonacci Retracements Analysis 07.04.2020 (EURUSD, USDJPY)

In the H1 chart, the convergence made the price start a new rising tendency which has already reached 50.0% fibo. The next upside targets may be 61.8% and 76.0% fibo at 109.88 and 110.56 respectively. If the pair breaks the low at 106.91, the instrument may resume its mid-term decline.

Fibonacci Retracements Analysis 07.04.2020 (EURUSD, USDJPY)

pipstealer · Apr 8, 2020

The Yen is rising on expectations of economic stimulus package. Overview for 07.04.2020 FROM RFXSIGNALS
07.04.2020
USDJPY is falling on Tuesday morning. Japan is preparing for a new stimulus package.
The Japanese Yen is strengthening against the USD on Tuesday. The current quote for the instrument is 108.92.
The Japanese Prime Minister Shinzo Abe announced a new economic stimulus package worth ¥108T ($989B). it’s a very positive moment for the country’s economy, which means that the government doesn’t stand aside and is ready to stay in sync with the changing market conditions.
At the same time, there isn’t too much positive for the Yen, because the rumor has it that Japan may declare a state of emergency due to the coronavirus pandemic. First of all, it’s about Tokyo but may cover other regions as well.
In the morning, Japan reported on the Household Spending in February, which lost 0.3% y/y after showing -3.9% m/m in January. The actual reading is much better than expected, -3.3% m/m. The indicator shows that the population is ready to spend money and that’s been a problem for Japan over the last previous months.,
The Average Cash Earnings added 1.0% y/y in February after expanding by 1.2% y/y the month before. It’s not very good but still better than expected.

pipstealer · Apr 8, 2020

Forex Technical Analysis & Forecast 07.04.2020 FROM RFXSIGNALS
07.04.2020
EURUSD, “Euro vs US Dollar”
EURUSD is consolidating around 1.0800; it has expanded the range up to 1.0835 and then down to 1.0776, and right now is growing to reach 1.0825. After that, the instrument may fall towards 1.0798, thus continuing the consolidation range in the form of a Triangle pattern. If later the price breaks this pattern to the upside, the market may form one more ascending wave towards 1.0900; if to the downside – resume moving inside the downtrend with the target at 1.0752.