News and Market Analysis

Todays Directional Views: EUR/USD Confidence Shatters
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Investor confidence index came out worse than expected

What currencies moving?

EUR/USD Falls as Confidence Shatters. What currencies are expected to rise? Here are some of today’s directional views in currencies, crypto and Gold from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Subscribe to receive our daily newsletter.

On the U.S. econom

The U.S. 10-year Treasury Yield climbed 2.4bps to 2.406%.

European stocks closed in the green after the DAX 40 rose 0.50%, the CAC 40 climbed 0.70% and the FTSE 100 added 0.28%TI.

After the close of Wall Street, WTI Crude Future (MAY 22) was up $4.4 to $103.65. The contract was below its 20D MA (@ $105.5) and above its 50D MA (@ $96.8).

Gold was up $6 to $1931.7. The precious metal was below its 20D MA (@ $1949) and above its 50D MA (@ $1900).

Copper Future (MAY 22) on Comex was up 9.3c to 478.15c/lb. The contract was above its 20D MA (@ 468.47c) and above its 50D MA (@ 458.98c).

The U.S. dollar rose 0.37pts to 99.

EUR/USD fell 72pips to 1.0971. In the eurozone, the Sentix investor confidence index came out at -18.0 for April, while economists were expecting -9.4 and compared to -7.0 in March. Meanwhile, Germany’s February trade surplus was released at 11.4 billion euros, vs 7.1 billion euros expected.

GBP/USD was flat at 1.3114.

AUD/USD gained 47pips to 0.7543.

USD/JPY added 23pips to 122.75.

USD/CHF lost 1pip to 0.9263 and USD/CAD dropped 38pips to 1.2484.

Bitcoin traded lower to $46307 while Ethereum increased to $3509.

Bitcoin traded lower to $46307 while Ethereum increased to $3509.
Our pivot point stands at 44670.
Our preference:
Rebound
Alternative scenario:
The downside breakout of 44670 would call for 43310 and 42510.
Comment:
The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (45858) but below its 50 period moving average (46103).

Ether / Dollar intraday: our next up target stands at 3689
Our pivot point stands at 3390.
Our preference:
Our next up target stands at 3689.
Alternative scenario:
The downside breakout of 3390 would call for 3281 and 3216.
Comment:
The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 3461 and 3486).

NZD/USD intraday: as long as 0.6930 is support look for 0.7006
Our pivot point is at 0.6930.
Our preference:
As long as 0.6930 is support look for 0.7006.
Alternative scenario:
The downside breakout of 0.6930 would call for 0.6902 and 0.6886.
Comment:
The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6950 and 0.6935).

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