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Overview of the GBP/USD pair. April 2. The pound is calm. The British want to extend the “transition period”

4-hour timeframe

Technical details:
Higher linear regression channel: direction – downward.
Lower linear regression channel: direction – downward.
Moving average (20; smoothed) – upward.
CCI: 91.3539
The GBP/USD currency pair starts the fourth trading day of the week with a rather weak (for current realities) movement along with the Murray level of “3/8”-1.2451. Over the past few days, the pound/dollar pair has worked out this level several times, but never managed to gain a foothold above it or, on the contrary, push off from it and start a downward correction. Thus, we believe that traders have come to a certain “point of equilibrium” – the balance of supply and demand. In order for the pair to continue the upward trend or complete it, you need serious fundamental reasons or the entry of major players into the currency market with large transactions. During the past day, macroeconomic statistics from overseas could support the US dollar (as was the case with the euro currency), however, quite unexpectedly, the correlation through the US dollar was broken in the last two days. Before that, the EUR/USD and GBP/USD pairs moved almost identically with adjustments for volatility.
In principle, there is no news from the UK at the moment. Except for new reports…

Overview of the EUR/USD pair. April 2. Donald Trump is expecting “two difficult and painful weeks” for the United States.

4-hour timeframe

Technical details:
Higher linear regression channel: direction – downward.
Lower linear regression channel: direction – downward.
Moving average (20; smoothed) – sideways.
CCI: -120.7428
The fourth trading day of the week begins with the continuation of the downward movement, which was initially identified as a correction. However, at the moment, the quotes of the EUR/USD pair are fixed below the moving average line, so the trend is changed to a downward one. The same can be said for the Ichimoku indicator system, where the price overcame the Kijun-sen line. Thus, now the movement can continue with the goal of the Murray level of “1/8”-1.0864 or lower. However, we already warned in yesterday’s article that the current downward movement may be nothing more than a “correction against a correction”. Thus, according to all the canons of the size of the corrective movement, it can end in the area of 1.0833-1.0893. If this hypothesis is correct, then the downward movement will not continue for long. Moreover, the movement to the south means the growth of the US currency. Yesterday, macroeconomic statistics supported the dollar. However, in addition to statistics, there is now a much more important “epidemic factor” in the world. And, according to the latest information,…

South Korea Inflation Data Due On Thursday

South Korea will on Thursday release March numbers for consumer prices, highlighting a modest day for Asia-Pacific economic activity. In February, overall inflation was flat on month and up 1.1 percent on year, while core CPI added 0.1 percent on month and gained 0.5 percent on year. Japan will provide March figures for monetary base; in February, the monetary base climbed 3.6 percent on year. Australia will see February figures for job vacancies; in January, vacancies were up 1.6 percent on month. The material has been provided by InstaForex Company – www.instaforex.com…

Dollar Gains Against Peers

The U.S. dollar stayed firm against most of its peers on Wednesday amid fears of an imminent deep recession due to the impact of the rapidly spreading coronavirus pandemic. A report from payroll processor ADP said private sector employment fell by 27,000 jobs in March in the U.S. after jumping by a downwardly revised 179,000 jobs in February. The dollar index rose to 99.84 this afternoon, but gave up much of its gains subsequently and was last seen at 99.41, up 0.35% from Tuesday’s close. Economists had expected private sector employment to plunge by 150,000 jobs compared to the addition of 183,000 jobs originally reported for the previous month. The drop was much smaller than expected but still reflects the first decrease in private sector employment since September of 2017. The Institute for Supply Management’s report showed a contraction in U.S. manufacturing activity in the month of March. The ISM said its purchasing managers index dipped to 49.1 in March after edging down to 50.1 in February. While a reading below 50 indicates a contraction in manufacturing activity, economists had expected the index to show a steeper drop to 45.0. Against the euro, the dollar strengthened to $1.0964 from $1.1041,…

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Gold Pares Early Gains, Settles Lower For 4th Straight Session

Gold prices drifted lower on Wednesday, extending losses to a fourth straight session, although the downside was not much pronounced as rising coronavirus cases continued to raise concerns about growth. A stronger dollar weighed on the yellow metal. The dollar index rose to 99.80, gaining about 0.75%. It was not an entirely weak spell for the yellow metal today, as safe-haven demand pushed up prices early on in the session. Gold futures for June ended down $5.20, or about 0.3%, at $1,591.40 an ounce, after hitting a high of $1,612.40 an ounce in the Asian session. The contract, which dropped to a low of $1,576.00 around mid-morning, recovered and moved past $1,600 again before giving up gains. Silver futures for May ended down $0.172 at $13.984 an ounce, while Copper futures for May settled at $2.1745, per pound, down $0.0535 from previous close. A report from payroll processor ADP said private sector employment fell by 27,000 jobs in March in the U.S. after jumping by a downwardly revised 179,000 jobs in February. Economists had expected private sector employment to plunge by 150,000 jobs compared to the addition of 183,000 jobs originally reported for the previous month. The drop was…