Daily market review – April 25th 2017


This morning the European stock exchanges are trading slightly higher after yesterday’s the CAC gain 4% in response to the results of the first round of elections in France
The Euro and the pound are up by 0.1% against the US dollar to $ 1.0883 and $ 1.2810 respectively, while the Japanese yen continues to weaken by 0.5% to 110.2900 yen per dollar.
The rise in oil prices is moderated.
WTI crude oil rose by 0.2% to $ 49.3 per barrel and the Brent crude oil rose by 0.2% to $ 51.71 per barrel.

Yesterday, the trading on Wall Street stock exchanges closed with gains of more than 1% in the leading indices.
The Dow Jones and the S&P 500 rose by 1.1%, the Nasdaq climbed by 1.3%, continuing the sharp gains in Europe.

Trading Opportunity

On the 4 hours chart, the pair reached the 100.0 level of the Fibonacci Extension (1.0250 zone) after completing a double wave up.

aud.cad 4h 25.4.17
There is a bearish divergence at the MACD, and the RSI is pointing at an over bought area, which means we can start looking for PUT opportunities.

On one hour chart there is an up trend line.

aud.cad 1h 25.4.17
We are waiting for a double wave towards the trend line, and a break below it, or if we want to be more certain, below the level of 1.0175 to start selling PUT options.

If the pair will go above the 1.0250 zone before we have an opportunity to sell, the opportunity will be cancelled.


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