Daily market review – April 18th 2017


The trading in Asian stock exchanges was with a mixed trend today, with a tendency of declines in most of the leading indexes, at the background the geopolitical tension between the US, North Korea and Russia is hovering in the background.
Yesterday, the trading on Wall Street’s leading indexes posted a sharp gains in the past six weeks.
After falling by 1.1% last week to a two-month low, the S&P 500 jumped by 0.86%
China reported yesterday that its annual growth rate climbed to 6.9 percent in the first quarter, above expectations of a 6.8 percent growth rate.

Trading Opportunity

On the daily chart we can see that the pair has reached a support line around the level of 1.0770.

aud.nzd d 18.4.17

This level was acting as a resistance up until the start of March, when then it was broken up.
Right now the pair is testing this area for the first time since the break, and as long as the support hold the pair above this level, our tendency is to buy CALL options.


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