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EUR/USD 1st May 2017 forecast

Technical tools: simple moving averages (20, 55 and 100), relative strength index and Bollinger bands.
The following 4-hours chart shows most of EUR/USD performance during March. The currency pair reached a monthly bottom at the 1.0490 level and since then it has been rising with successive short consolidations phases.
The exchange rate is now piercing the upper 4-hours Bollinger band, suggesting another eventual consolidation phase with the nearest support given by the 55-4-hours SMA at the 1…
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GBP/USD 1st May 2017 forecast

Technical tools: simple moving averages (20, 55 and 100), the relative strength index, Bollinger bands and Fibonacci retracement levels.
The following 4-hours chart shows sterling surge after the midst of March, since the 1.21s lows of the month. The upper Bollinger band is being successively pierced since the currency started recovering, more precisely after the Fed meeting on March the 15th.
The 4-hours RSI pierced during this ascending motion the 70 level and it is now ticking at 65. Some s…
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USDJPY 1st May 2017 forecast

Technical tools: simple moving averages (20, 55 and 100), the relative strength index and Bollinger bands.
Dollar/yen is being inflicted with severe losses after Fed’s March meeting. US interest rates rose, however the board did not answered positively expectations over an eventual 4th rate hike this year.
As off that, the dollar is moving towards the 110 level, rather than the 116 level, as it would be expected due to interest rate differentials.
The following 4-hours chart shows dollar/yen …
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XAU/USD 1st May 2017 forecast

Technical tools: simple moving averages (20, 55 and 100), relative strength index, Bollinger bands and Fibonacci retracement levels.
The following 4-hours chart shows gold moving lower during the 1st half of March and erasing some of the losses in the 2nd half of the month.
A major green candle lightened short-term views over bullion’s performance. The RSI is at 75 in what might be an opportunity to consolidate the gains accomplished. The closest support area is represented by the actual 20-4-…
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EUR/JPY 1st May 2017 forecast

Technical tools: simple moving averages (20, 55 and 100), relative strength index and Bollinger bands.
The following 4-hours chart shows EUR/JPY moving lower since the midst of March. Demand for yen is rising in light of risk-off sentiment.
The 4-hours RSI is at 36 and SMAs are crisscrossing each other, without providing a clear signal condition. However, all 4-hours SMAs are above the current exchange rate price. If sentiment reverses, there will be several resistances imposed by SMAs to cros…
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AUD/USD 1st May 2017 forecast

Technical tools: simple moving averages (20, 55 and 100), the relative strength index and Bollinger bands.
The Australian dollar surged after Fed’s meeting on March the 15th. The Fed disappointed the crowd with only 2 more rate hikes promised for this year.
After that, there were hints that the next target would be April 2016 high at 0.7835. I’m sceptical about it.
The following 1-hour chart shows AUD/USD bouncing off the highs of March, since the day 21 of the reported month. Hourly SMAs are…
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USD/CAD 1st May 2017 forecast

Technical tools: simple moving averages (20, 55 and 100), relative strength index and Bollinger bands.
This currency pair traded more broadly flat during the first two months of the year.
After that mild start, it has taken a clear direction in the 1st half of March: north. Propelling this move, an accommodative BoC and expectations over a faster pace of interest rate hikes on Fed’s behalf.
The following 4-hours chart shows that, during the 1st half of March the RSI moved above the 70 level, …
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NZD/USD 1st May 2017 forecast

Technical tools: simple moving averages (20, 55 and 100), the relative strength index and Bollinger bands.
The following 4-hours chart provides an insight that kiwi/dollar is still experiencing a major leg lower.
The highs were recorded near 0.7350 in February and the next target lies at the 0.68 level.
In March there has been a U-turn that seems not convincing at all.
The next NZD/USD daily chart unveils the RSI at a neutral level, 47. Daily SMAs are struggling each other to find the next cl…
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