EURUSD is up on the news that the far-right failed to win the first round of French elections. Macron winning the first round is clearly important for investors who want to see a continuation of the recent economic policies in France. Stock markets have been under pressure as bond yields keep ticking higher. The 10-yr US Treasury is currently yielding 2.72% a level we've last seen in January 2019. Measuring from the London open on Friday NZD and JPY are the weakest currencies while the dollar is in the lead. While the rally in the yields supports the dollar it's putting pressure on risky assets including commodity currencies. This helped GBPNZD to move to my second target level resulting in yet another successful trade idea. This week traders will focus on central bank meetings and US inflation data (CPI and PPI) as well as on the French presidential elections. In today's report, I cover GBPNZD, EURGBP and USNGAS. By reading further, you agree with our disclaimer at the end of this report and acknowledge that we do not provide investment advice.To get more news about samtrade, you can visit wikifx.com official website.
The way I have structured my analysis is that I will post trade ideas when I see them but when now apparent trade ideas stand out at the time of writing the analysis I will provide you with analysis and key price levels on markets that are worth putting on a watchlist. As soon as something catches my eye I will update you on our Telegram channel.
USNGAS rallied back to October 2021 highs on Friday and stalled there as profit-taking started to soften the bids. I have been bullish on this market since the war started and have been providing trade ideas on the long side. Now though it's time to be careful and just take profits on existing long trades or possibly look for shorting opportunities in this market. The upside risk remains though and therefore it's good to keep the trade sizes smaller than usual and targets close. The market has been weakish after hitting the 6.522 resistance which means we have to pay attention to the manner the market trades around the 6.290 support level. If the level is broken decisively, look for a move to 6.22 and possibly deeper. If the level (6.29) holds then we'll probably see the market trading to levels between the 50-SMA at 6.39 and a recent minor high at 6.380.
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| By | buzai232 |
| Added | Apr 25 '22, 10:10PM |
The Wall