Weekend Market Analysis – 04.04.2014

By April 6, 2014Analysis

Let’s take a look at what went on last week and what might happen this coming week in selected FX and GOLD.

EUR/USD D1 Chart

The Euro moved lower after exploring the 1.3800 zone to determine demand above. There was not too much demand as evidenced by the continued decline to 1.3700/W1 support. Price did form a pin bar on Friday, but it has a bear body. A possible move up to ~1.3750 to determine if support can be sustained.

eurusd-d1-04062014

XAU/USD D1 Chart

Gold moved up strongly and above 1300.00 at the end of the week as demand was found at the swing point support. Price action says we can look for a further move up. How far? Probably, to at least W1 resistance (blue line).

xauusd-d1-04062014

AUD/USD D1 Chart

Aussie didn’t move too much over the course of the week, but was able to break through and close above the W1 resistance, but below the 0.9300 round number. Price action shows a further move up.

aususd-d1-04062014

NZD/USD D1 Chart

Kiwi fell off a pin bar/shooting star but not enough to complete a 2:1 RR win ratio. Price has pulled back to test a 50% fib retrace & 0.8600 round number. If you’re in this trade with a short position from the pin bar, it still has good potential to complete to a 2:1 RR profit.

nzdusd-d1-04062014

In The News

Kiron Sarkar Weekly Report 4.4.14 (The Big Picture) 

Canadian Dollar Climbs to Strongest in Six Weeks on Jobs Growth (Bloomberg)

Dollar Falls as Jobs Gains Trail Forecast; Emerging Markets Rise (Bloomberg)

Payrolls in U.S. Rose 192,000 in March, Unemployment 6.7% (Bloomberg)

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