Daily market review – April 19th 2017


In Asia today the trading ended with a negative trend in most of the leading stock exchanges, at the background of the falls in prices on Wall Street last night.
Yesterday, the London Stock Exchange shed 2.5% on the day after Prime Minister May announced that the elections would be held on June 8, and this morning the British stock exchange is down 0.2%.
This coming Sunday, another event is expected to shake Europe in particular and the financial markets in general – the first round of the French presidential elections.
The continued tension between the US and North Korea also does not add health to market players.

Trading Opportunity

On the daily chart the pair reached the 100.0 level of the Fibonacci Extension (around 108.50) completing a double wave down.

usd.jpy d 19.4.17
There is a bullish divergence at MACD which can be a sign of the end of the trend.

What can we do from here?
Our trigger for a buy CALL options would be in a lower time frame.

usd.jpy 1h 19.4.17

On an hour chart the pair broke above a downtrend line (108.80)
We can try and enter the trade from this point.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s