Member of The Egyptian Society of Technical Analyst
Head of Education department, Market Strategist, Chief Technical Analyst of Global Leading Forex Brokerage companies
Trained over 5000 professional trainers more than 10 years
BSc in Economics from Mansoura University
12 April 2019
US Consumer Sentiment: Friday, 14:00. The University of Michigan’s Consumer Sentiment gauge stabilized at 98.4 points in March, after a drop earlier in the year. The measure is considered a leading indicator of consumption. The preliminary read for April is projected to show a similar level of 98.1 points.
USD US Consumer Sentiment
Update: We are almost there, on its way to its final target.The daily chart shows that the pair is traded above a strong support level that is 1.1175 so we are bullish as long as the pair is traded above it. Our first target is 1.1350.
▪ 1.21 ▪ 1.1850 ▪ 1.18
▪ - ▪ 1.1217 ▪ 1.1150
We are bullish as long as the pair is traded above the level of 1.1175.
Update: No changes.As could be seen on the chart above that the pair is traded in an area where we cannot enter the market. So, we will be waiting for the pair to reach the level of 1.32 – 1.33 which is where we can go short in case the pair shows up some bearish evidence. Our first target is 1.29.
▪ 1.36 ▪ 1.3310 ▪ 1.33
▪ 1.29 ▪ 1.27 ▪ 1.26
We are bearish as long as the pair is traded below the level of 1.33.
Update: The pair started going down as expected.As could be seen on the chart above that the pair is traded below a strong resistance level that is 1310. So, we will be waiting for some bearish evidence, in case this happens, we can go short targeting the level of 1285.
▪ 1350 ▪ 1365
▪ 1285 ▪ 1180 ▪ 1170
We are bearish as long as the pair is traded below the level of 1310.
Update: The pair might continue going up during the day.As we can see on the chart above that the pair is traded above a strong support level that is 0.70. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 0.74 during the week.
▪ 0.7550 ▪ 0.7600 ▪ 0.7260
▪ 0.7000 ▪ - ▪ -
We are bullish as long as the pair is traded above the level of 0.70.
Update: No changes, we remain the same. Will the pair continue going down to reach the support level of 143.75 then we can go long again? Or will it breakthrough it and continue going down to reach the level of 141? Let the pair decide as we already know what we will do.
▪ 156 ▪ 155 ▪ 149
▪140 ▪ 139 ▪ 138
Nothing to be done for now.
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