Japanese Yen consolidate further. Forex Analysis for April 07, 2015

April 7, 2015

EUR/ USD
Correction Phase;
1.0850
On the short -term the market the market still ranging between 1.07 and 1.12 levels as awaiting a more data to decide the new mid-term direction ; those levels considered critical for short-term traders . The breakout direction would be the new trend with highest probability downward However , The market now on the way to reach the levels of 1.12 as correction phase in progress .
On the longer-term view : the market on the down trend driven by a lot of factors ; moreover , a levels below 1.04s es expected and parity exchange rate would be in the next half of 2015.
Daily Trend: Neutral
Weekly Trend: Down


GBP/USD
GBP/USD: 1.4855
Wide range market
On the short-term ; the market is clearly on a range market trading between , 1.50 and 1.47 levels ; any breakout the move would be fast and strong targeting 500 pips on the mid-term. Most of the currencies markets going on a stabilizing rate between certain levels to consolidate the recent strong move we have seen on the last 6 months.
On the long-term view : still a lower levels is expected with stabilizing near 1.30s levels , the major turning point would be the May elections - The dollar effect which mainly would move the rate ; however , the stabilization is expected because of the expectation that BoE would hike rate after the Fed expected move.
Daily Trend: Neutral
Weekly Trend: Down


USD/JPY
USD/JPY: 119.90
Japanese Yen consolidate further - the safe Haven on geopolitical risk
as market has recorded a higher price over 120 yen per us dollar , the the upward for the longer term view is more probable , however , the market of this pair is also trading in a range awaiting more data to decide its mid-term course of action - so we do expect and see a range market sloping upward on the short-view.
On the longer -term : still the bull wave in effect as long as market is trading higher than 115 levels , targeting 125/128 levels - buying in dip would be the most strategy used by the markets on that pairs on the long targeted investment choice.
Daily Trend: Neutral
Weekly Trend: Up


Crude Oil
Oil (5K) 51.40
consolidation and near to reverse- awaiting the confirmation
On the short-term view ; we have mentioned earlier on our reports that the market is trading between 50s and 47s levels ; any successful breakout would continue on the direction of that breakout - the market has succeeded to continue pushing up the prices and we would anticipate the first resistance at 53/54 levels which is a part of the mid-term correction phase for the last strong market drop .
However , on the longer -term the fundamental of the market has bot been changed and June OPEC meeting is the awaiting event for the energy observer , with no change - as expected - about the adjustment of the supply then more down move is the new wave on the future to target below 40 per barrel .
Daily Trend: Ranging
Weekly Trend: Down


GOLD
GOLD 1208
Wide Range Market - Consolidation Pattern
On the short term , the market still ranging between wide levels 1185/1225 - yesterday up move has not been sustained and awaited more confirmation for that move - with down move is again sustained .
the major short-term levels which the market would keep an eye on it 1178 - further drop below means 1150s would be the target for the market again.and higher 1220 which penetrations of it means toward 1250 and higher.
On the longer-term view : The view has became stabilized after a drop was expected further ; the market would range between 1250 and 1190 ; the penetration of one of this level would determine the new direction and continuously we would update the view as the factors are changing .
Daily Trend: Up
Weekly Trend: Range


Dow Jones
Dow Jones: 17804
Equity on a bigger consolidation pattern - with upward slope
On the longer-term as long as market trading higher than 17,000 us dollar for the index ;then it is an buy opportunity to target $20,000. in case now rate hike by the Fed.
short-run
Market on short-term is in a correction phase would target 17250 in case is traded below 17500 , while in case market continued its up swing and crossed 18000 then our longer-term target of 20,000 would be most probable. Moreover , the range which the market trading inside it would be also continue till a successful break of 18200 or 17000 and the breakout direction would push the market further on new levels on the mid-term point of view.
So market will be ranging with up slope until 18,200 penetrated then 18,500 would eb the coming target (Higher probability scenario )
Daily Trend: Neutral
Weekly Trend: Up

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