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Apr 267 min read

Forex Trading Signals & Analysis: April 26 - Intraday Focus



economic calendar image with currency symbols

Key Events and Data Releases

  • Core PCE Price Index (3:30 pm):

  • Tracks inflation by measuring price changes in goods and services, excluding food and energy.

  • Impact on Markets: Higher index signals rising inflation concerns, affecting market sentiment.

  • Revised University of Michigan Consumer Sentiment (5:00 pm):

  • Reflects consumer confidence and can indicate spending trends.

  • Impact on Markets: Higher consumer sentiment suggests stronger spending; lower indicates potential downturn.

Earnings Reports

  • Exxon Mobil and Chevron Earnings:

  • Energy sector earnings that can influence broader market trends.

  • Impact on Markets: Positive results boost confidence in energy stocks; negative results may dampen sentiment.

Additional Events This Week

  • US Personal Income and Spending: Insights into consumer income and spending patterns.

  • PCE Deflator: Measures inflation trends through price changes in consumer goods and services.

DXY Dollar Index, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
The U.S. 🟢 Dollar Index, pivotal for forex traders, comprises six key currencies: EUR, JPY, GBP, CAD, SEK, and CHF.

Forex Trading Signals

EUR/USD  GBP/USD  USD/JPY  USD/CHF  NZD/USD  AUD/USD USD/CAD  EUR/GBP  EUR/JPY EUR/CHF USD/SEK



EUR/USD A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 EUR/USD

Trading Signal for EUR/USD

  • Trade Direction: Sell

  • Entry Point: 1.0720

  • Take Profit: TP1: 1.0690, TP2: 1.0650

  • Stop Loss: 1.0750

  • Confidence Level: Moderate

  • Indicator Analysis:

  • The Bollinger Bands are showing expansion, suggesting increased market volatility and the potential for a downward move.

  • The Ichimoku Cloud indicates resistance, hinting at a downward trend.

  • The ATR shows moderate volatility, suggesting price fluctuations within a reasonable range.

  • The MACD shows a slight bearish crossover, indicating a potential sell opportunity.

  • The RSI is currently at 60.72, indicating a tendency towards overbought conditions, supporting a bearish outlook.

  • Fundamental Analysis Insight:

  • The Core PCE Price Index and the Revised University of Michigan Consumer Sentiment could influence USD strength. A higher PCE index might strengthen the USD, supporting the sell signal. A lower index could weaken the USD, possibly impacting the signal's outcome.

  • Earnings reports from Exxon Mobil and Chevron can impact market confidence and subsequently affect the broader market.


Trading Signal for GBP/USD

  • Trade Direction: Sell

  • Entry Point: 1.2510

  • Take Profit: TP1: 1.2480, TP2: 1.2450

  • Stop Loss: 1.2540

  • Confidence Level: Moderate

  • Indicator Analysis:

  • The Bollinger Bands indicate contraction, suggesting reduced market volatility with a potential downward move.

  • The Ichimoku Cloud signals resistance, hinting at a downward trend.

  • The ATR indicates moderate volatility, consistent with short-term price fluctuations.

  • The MACD has crossed below the signal line, suggesting bearish momentum.

  • The RSI is near 60, which might indicate a potential overbought condition, supporting a sell.

  • Fundamental Analysis Insight:

  • Core PCE Price Index and Revised University of Michigan Consumer Sentiment data later today could impact USD strength and influence the GBP/USD trend.

  • Earnings reports from major oil companies, like Exxon Mobil and Chevron, may impact market sentiment, affecting broader indices and related currencies.



Trading Signal for USD/JPY

  • Trade Direction: Buy

  • Entry Point: 156.10

  • Take Profit: TP1: 156.50, TP2: 157.00

  • Stop Loss: 155.70

  • Confidence Level: Moderate

  • Indicator Analysis:

  • The Bollinger Bands show expansion, suggesting increased market volatility with a potential upward move.

  • The Ichimoku Cloud indicates support, hinting at a continued upward trend.

  • The ATR suggests moderate volatility, indicating steady price movements within a defined range.

  • The MACD displays a bullish crossover, signalling buying momentum.

  • The RSI is near 60, indicating moderate bullish strength with a slight upward trend.

  • Fundamental Analysis Insight:

  • The 34-year low of the Japanese yen might increase the likelihood of government intervention. Keep an eye on news reports or chatter about potential intervention.

  • Core PCE Price Index and Revised University of Michigan Consumer Sentiment may affect USD strength, with impacts on USD/JPY.

  • Earnings reports from major oil companies like Exxon Mobil and Chevron could also influence market sentiment.



Trading Signal for USD/CHF

  • Trade Direction: Sell

  • Entry Point: 0.9120

  • Take Profit: TP1: 0.9100, TP2: 0.9070

  • Stop Loss: 0.9150

  • Confidence Level: Moderate

  • Indicator Analysis:

  • The Bollinger Bands suggest a contraction, indicating reduced market volatility with potential for a downward move.

  • The Ichimoku Cloud indicates resistance, suggesting a potential downward trend.

  • The ATR shows low volatility, indicating a stable price movement within a narrow range.

  • The MACD has crossed below the signal line, indicating a bearish trend.

  • The RSI is at 56, hinting at a slight bearish momentum.

  • Fundamental Analysis Insight:

  • The Core PCE Price Index and the Revised University of Michigan Consumer Sentiment may affect USD strength, impacting USD/CHF.

  • Earnings reports from major oil companies like Exxon Mobil and Chevron can influence overall market sentiment, affecting currency pairs.


Trading Signal for NZD/USD

  • Trade Direction: Buy

  • Entry Point: 0.5960

  • Take Profit: TP1: 0.5980, TP2: 0.6000

  • Stop Loss: 0.5930

  • Confidence Level: Moderate

  • Indicator Analysis:

  • The Bollinger Bands indicate moderate expansion, suggesting increased market volatility with a potential upward move.

  • The Ichimoku Cloud shows support, hinting at a continuation of the upward trend.

  • The ATR indicates low volatility, suggesting stable price movements.

  • The MACD shows a slight bullish crossover, indicating buying momentum.

  • The RSI is above 60, suggesting bullish momentum with further room for upward movement.

  • Fundamental Analysis Insight:

  • Core PCE Price Index and Revised University of Michigan Consumer Sentiment could affect USD strength, influencing NZD/USD.

  • Earnings reports from major oil companies like Exxon Mobil and Chevron could impact broader market sentiment and indirectly affect the currency pair.





Trading Signal for AUD/USD

  • Trade Direction: Buy

  • Entry Point: 0.6530

  • Take Profit: TP1: 0.6550, TP2: 0.6570

  • Stop Loss: 0.6500

  • Confidence Level: Moderate

  • Indicator Analysis:

  • The Bollinger Bands are expanding, indicating higher market volatility with potential upward movement.

  • The Ichimoku Cloud suggests support, indicating a continuation of the upward trend.

  • The ATR shows low volatility, suggesting stable price movements within a narrow range.

  • The MACD displays a bullish crossover, indicating buying momentum.

  • The RSI is above 60, suggesting bullish strength with further room for upward movement.

  • Fundamental Analysis Insight:

  • The Core PCE Price Index and the Revised University of Michigan Consumer Sentiment could affect USD strength, indirectly impacting AUD/USD.

  • Earnings reports from major oil companies like Exxon Mobil and Chevron might influence broader market sentiment, affecting this currency pair.


Trading Signal for USD/CAD

  • Trade Direction: Sell

  • Entry Point: 1.3640

  • Take Profit: TP1: 1.3610, TP2: 1.3580

  • Stop Loss: 1.3670

  • Confidence Level: Moderate

  • Indicator Analysis:

  • The Bollinger Bands suggest a contraction, indicating lower volatility with a potential downward movement.

  • The Ichimoku Cloud indicates resistance, suggesting a downward trend.

  • The ATR shows low volatility, indicating a gradual price movement.

  • The MACD has crossed below the signal line, indicating bearish momentum.

  • The RSI is near 35, pointing to bearish conditions and supporting a sell.

  • Fundamental Analysis Insight:

  • The Core PCE Price Index and the Revised University of Michigan Consumer Sentiment might affect USD strength, impacting USD/CAD.

  • Earnings reports from major oil companies like Exxon Mobil and Chevron could influence market sentiment, indirectly affecting this currency pair.


Trading Signal for EUR/GBP

  • Trade Direction: Sell

  • Entry Point: 0.8580

  • Take Profit: TP1: 0.8550, TP2: 0.8520

  • Stop Loss: 0.8610

  • Confidence Level: Moderate

  • Indicator Analysis:

  • The Bollinger Bands indicate contraction, suggesting reduced market volatility with a potential downward move.

  • The Ichimoku Cloud indicates resistance, suggesting a downward trend.

  • The ATR shows low volatility, indicating steady price movement within a narrow range.

  • The MACD shows a bearish crossover, suggesting downward momentum.

  • The RSI is near 43, indicating bearish strength and supporting a sell signal.

  • Fundamental Analysis Insight:

  • The Core PCE Price Index and the Revised University of Michigan Consumer Sentiment might affect GBP strength, influencing EUR/GBP.

  • Earnings reports from major oil companies like Exxon Mobil and Chevron could affect market sentiment, impacting this currency pair.


EURJPY"Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
🟢 EUR/JPY

Trading Signal for EUR/JPY

  • Trade Direction: Buy

  • Entry Point: 167.30

  • Take Profit: TP1: 167.80, TP2: 168.30

  • Stop Loss: 166.90

  • Confidence Level: Moderate

  • Indicator Analysis:

  • The Bollinger Bands indicate expansion, suggesting increased market volatility with a potential upward trend.

  • The Ichimoku Cloud shows support, indicating a continuation of the upward movement.

  • The ATR suggests moderate volatility, indicating steady price movement.

  • The MACD indicates a bullish crossover, suggesting buying momentum.

  • The RSI is near 70, indicating bullish strength with room for further upward movement.

  • Fundamental Analysis Insight:

  • The Core PCE Price Index and the Revised University of Michigan Consumer Sentiment might influence EUR strength, impacting EUR/JPY.

  • Given the Japanese yen's significant weakness, any hint of government intervention might impact the trend. Earnings reports from major oil companies like Exxon Mobil and Chevron might also affect market sentiment, indirectly influencing this pair.


EUR/CHF "Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
🟢 EUR/CHF

Trading Signal for EUR/CHF

  • Trade Direction: Buy

  • Entry Point: 0.9790

  • Take Profit: TP1: 0.9810, TP2: 0.9830

  • Stop Loss: 0.9760

  • Confidence Level: Moderate

  • Indicator Analysis:

  • The Bollinger Bands are expanding, indicating increased market volatility with a potential upward trend.

  • The Ichimoku Cloud shows support, suggesting a continuation of the upward trend.

  • The ATR indicates moderate volatility, suggesting steady price movement within a defined range.

  • The MACD indicates a bullish crossover, pointing towards buying momentum.

  • The RSI is near 65, indicating bullish strength with further upward momentum.

  • Fundamental Analysis Insight:

  • The Core PCE Price Index and the Revised University of Michigan Consumer Sentiment might affect EUR strength, influencing EUR/CHF.

  • Earnings reports from major oil companies like Exxon Mobil and Chevron might impact market sentiment, indirectly influencing this currency pair.


USD/SEK "Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
🟢 USD/SEK

Intraday Signal for USD/SEK

  • Trade Direction: Sell

  • Entry Point: 10.8506 (around current price)

  • Take Profit:

  • TP1: 10.8300 (first target for a downward trend)

  • TP2: 10.8000 (lower target if the downward trend persists)

  • Stop Loss: Above 10.8800 to limit potential loss.

  • Confidence Level: Moderate

  • Indicator Analysis:

  • Bollinger Bands: The price is near the lower band, indicating downward momentum.

  • Ichimoku Cloud: The price is below the cloud, reinforcing the bearish trend.

  • ATR: Suggests moderate to high market volatility.

  • MACD: Indicates bearish momentum, with the MACD line below the signal line.

  • RSI: Around 45, signaling potential downward momentum without being oversold.

  • Fundamental Analysis Insight:

  • Watch for USD-related news and events that might impact USD/SEK, as they can influence market trends.

 

Disclaimer: These Forex Trading Signals are based on the current charts and market conditions. Always conduct your own analysis and consider risk management strategies before entering any trade. Markets are dynamic, and conditions can change rapidly.


As with all investments, your capital is at risk. Investments can fall and rise and you may get back less than you invested.


The information provided does not constitute, in any way, a solicitation or inducement to buy or sell securities and similar products.


Forex signals, comments and analysis created and reflect the views forex368.com at any given time and are subject to change at any time. ©2024 by forex368.com.


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