Daily market review – April 21st 2017


The trading on the European stock exchanges is on the rise, with the Paris Stock Exchange down 0.4% after the terrorist attack yesterday in Paris, three days before the French presidential election.
London rises by 0.2%, Frankfurt climbs by 0.1% and the Stokes 600 European index is up 0.1%.

The Euro is up by 0.2% against the US dollar to $ 1.07 per euro.

French manufacturing and services indices rose in April to a six-year high.
The PMI manufacturing index rose to a 72-month high of 55.1 points.
The services index climbed to its highest level in 71 months at 57.7 points. Any score above 50 reflects an increase in economic activity.

Wall Street closed yesterday with a rise for the first time in three days led by fingernails and raw materials, and NASDAQ closed at a record high, after the US Treasury Secretary said that the tax reform in the US will be presented very soon, and President Trump ordered to examine the restriction of steel imports to the United States.

Trading Opportunity

On the 4 hours chart, after a clear downtrend, the pair once tried to broke above the trend line but failed, as it was a false break.

aud.usd 4h 21.4.17
Now there is another attempt, what can we do from here?

On the 1 hour chart we can see that after a double wave down (part of the false break) a double wave up is created.

aud.usd 1h 21.4.17
We marked a down trend line, when (and if) the pair will closed above it, it would be a signal to buy CALL options.


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