EUR/USD, French elections, and more (adapted from the article)
Daily price is breaking the six-month high level at 1.0998 to above for the bullish trend to be continuing. The price is located above Ichimoku cloud for the primary bullish with ascending triangle pattern to be broken for the bullish trend to be continuing.By the way, the next bullish target is 20-month high at 1.1326.
Neil Wilson, a senior markets analyst at City of London brokerage ETX Capital (the London-based Scottish analyst): "The result sends a loud signal to investors that political risks in France and across Europe are receding and that is undoubtedly supportive of European equities and the euro. Nevertheless this Macron win is very much a pro-risk event. The relief rally we have seen since the first round looks set to continue even though Sunday’s expected result was to some extent largely priced in."
Neil Mellor, Senior Currency Strategist and managing director at BNY Mellon: "The lack of a well-oiled Party machine behind Macron risks the possibility of a weak Presidency if there is ‘cohabitation’ i.e. a politically non-aligned President and Prime Minister, which last happened in 1997. Nevertheless, we would not be surprised were the euro pushing toward US$1.11 in early Asian trading. After all one of the features of the EUR in recent years has been its use as a funding currency for carry trade activity, which has resulted in the curious outcome that the currency has often strengthened during times of Eurozone stress and has fallen amidst rising optimism."
Bill Street, head of investments for EMEA at State Street Global Advisors: "It gives markets a much deserved breather from European politics. This result, combined with last week’s preliminary Greek debt agreement, will be enough to support a short-term relief rally. Looking forward, Macron only offers upside surprises. In a do-nothing scenario, we have the status quo of political paralysis, but with a favourable external environment and steady growth improvement. In the goldilocks scenario, he gets a working parliament and builds a partnership with Germany to launch meaningful reforms. That would deliver a substantial boost to markets by year-end, which is currently not priced in."
AUD/USD Intra-Day Fundamentals: Australian Retail Sales and range price movement
2017-05-09 02:30 GMT | [AUD - Retail Sales]
if actual > forecast (or previous one) = good for currency (for AUD in our case)
[AUD - Retail Sales] = Change in the total value of sales at the retail level.
From official report:
AUD/USD M5: range price movement by Australian Retail Sales news event
Dollar Index - Daily Ranging Bearish (based on the article)
Daily price is below ichimoku cloud for the bearish ranging wthin the narrow s/r levels:
EUR/USD - daily correction to be started; 1.0741 is the key (based on the article)
Daily price is on bullish trend with the seondary correction to be started yesterday by bounced from 1.1017 resistance level to below. The price is testing 1.0874 and 1.0851 support levels for the correction to be continuing with Fibo bearish reversal level at 1.0741 as a nearest target to re-enter.
USD/CNH Intra-Day Fundamentals: China Consumer Price Index and range price movement
2017-05-10 02:30 GMT | [CNY - CPI]
if actual > forecast (or previous one) = good for currency (for CNY in our case)
[CNY - CPI] = Change in the price of goods and services purchased by consumers.
From rttnews article:
USD/CNH M5: range price movement by Chinese CPI news event
EUR/USD Intra-Day Fundamentals: ECB President Draghi Speech and range price movement
2017-05-09 12:00 GMT | [EUR - ECB President Draghi Speaks]
[EUR - ECB President Draghi Speaks] = Speech about the impact of monetary policy at the Dutch House of Representatives, in Netherlands.
EUR/USD M5: range price movement by ECB President Draghi Speech news event
CAC 40 bounced from 5429.43 resistance to the bullish ranging to be started (based on the article)
Daily price is located above 100-day SMA/200-day SMA reversal levels in the bullish area of the chart. The price was bounced from 5429.43 resistance level to below for the ranging market condiion to be started.
If the daily price breaks 5429.43 resistance to above so the bullish trend will be resumed.If the price breaks 5295.47 support level to below on daily close bar so the secondary correction within the primary bullish trend will be started.If the daily price breaks 4980.41 support level to below on close bar so we may see the reversal of the price movement to the primary bearish market condition.If not so the price will be on bullish ranging within the levels.
GOLD - price broke intra-day Ichimoku cloud for the bearish trend (based on the article)
H4 price broke intra-day 72/144/288 Ichimoku cloud to below to be reversed to the primary bearish market condition. The price is moved along trendline channel by testing 1214.23 support level to below for the bearish trend to be continuing.
Trading the News: Bank of England (BoE) Interest Rate Decision (based on dailyfx article)
Bullish GBP Trade: BoE Boosts Economic Forecasts, Reveals Larger Dissent
Bearish GBP Trade: More of the Same From Governor Mark Carney & Co.
Daily price is located above Ichimoku cloud in the bullish area of the chart.