Daily Market Review for Thursday, April 10th 2014
Today’s main Financial Events (All times GMT):
Here is a look at today’s top traded currencies and commodities. Please keep a close eye on the market today, as important financial data is scheduled to be released mainly in United Kingdom, United States and China. Prices are expected to fluctuate during trading hours. Please find below our recommendations for today:
Key Support Levels at: 95.47/95.24/95.00
Key Resistance Levels at: 96.12/96.36/96.60
AUD/JPY recovers, but drops back down
AUD/JPY traders will be looking forward to the release of important financial data release figures coming out from Japan during Thursday’s trading session. The pair currently looks as if it will be developing a downward momentum following today’s earlier impresssive upside recovery. During yesterday’s session, the pair was able to climb from a level of 95.26. Traders will have to wait for the pair to cross the 95.47 support level before making sure that the pair is on a continuous downward path.
The AUD/JPY is currently trading at around a level of 95.68. It seems as if the pair will continue to go down despite better than expected Australian labor market data release figures. According to the titantrade trading academy, the pair seems to be heading on it’s way to breach the first support level currently targeted at 95.47. titantrade trading analysts estimate that a more than probable downtrend is expected until the end of the day.
Key Support Levels at: 0.9363/0.9339/0.9316
Key Resistance Levels at: 0.9430/0.9453/0.9477
AUD/USD expected to start with downtrend momentum shift
The AUD/USD will more than likely start facing a downward trend during Thursday’s trading session. There will be fundamental factors effecting the pair’s direction today coming mainly from United States. Traders are also advised to pay close attention to technical analysis throughout the day. The pair had finished yesterday’s trading session in the “red zone” at a level of 0.9375. The pair was able to progress from yesterday’s mid-session level of 0.9349 up to 0.9433 very early in today’s Asian session. However, the fact that unemployment unexpectedly fell for the very first time since last September caused the pair to start facing downwards.
titantrade signals suggests that the pair will more than likely continue shifting downwards until the end of the day. The pair’s technical indicators are showing a high possibility for a relatively strong first support level breach currently estimated to be at a level of 0.9363.
titantrade trading analysts estimate that current market conditions are more than likely capable of a down trend until the end of the day.
Key Support Levels at: 1315.45/1314.06/1312.64
Key Resistance Levels at: 1318.26/1319.68/1321.07
Gold seems to climb further up
Gold had gone up above the 1315.00 level after reaching a daily low of 1302.78 during the mid stages of yesterday’s trading session. Gold is currently trading at around the 1316.76 price level. The commodity has been showing signs of strengthening starting from the beginning of this week and it seems as if it is heading towards a continued downward trend momentum, at least until the end of today’s session. titantrade trading experts believe that Gold is on the verge of breaching the first resistance level currently targeted at a level of 1318.26.
Gold recent uptrend finds the commodity on the verge of recovering after a difficult month it had experienced. Considering the relative positive momentum it had been showing recently, Gold might reach new high until the end of the month. Our chief analyst says that Gold will indeed continue a positive uptrend that will last until the end of this trading week.
titantrade trading analysts estimate that current market conditions favor a possible uptrend in Gold until the end of today’s session.