Daily Market Review for Monday, April 14th 2014
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 States and Australia.Prices are expected to fluctuate during trading hours. Please find below our recommendations for today:
Key Levels: High at 1.3862/Low at 1.3842
Key Support Levels at: 1.3852/1.3818/1.3783
Key Resistance Levels at: 1.3895/1.3930/1.3965
EUR/USD seeks a catalyst to continue last week’s positive momentum
Traders will be looking forward to important financial data release figure scheduled for the EUR/USD during Monday’s trading session coming mainly from United States. The pair was able to gain tremendous positive momentum during last week’s trading session despite the ECB’s promises. Draghi’s words caused the pair to lose some of this momentum. titantrade trading analysts show that the pair has started weakening after reaching the 1.3860 price level. The pair is scheduled to develop an upward trend during today’s mid-trading session following Core Retail Sales m/m release.
As things stand right now, the EUR/USD seems to be heading towards the high 1.3880’s level and has a potential of continuing it’s upside momentum. The pair will be able to make a positive shift when the level of 1.3860 will be breached, what will cause the pair to start a steady uptrend. From a technical perspective, it seems that until the end of the day expiry, the pair will be able to climb back up. Our top analysts from titantrade trading estimate that a more than likely uptrend is expected.
Key Support Levels at: 0.9345/0.9322/0.9298
Key Resistance Levels at: 0.9412/0.9436/0.9459
AUD/USD seems to be heading upwards again
The AUD/USD is more than likely scheduled to face yet another positive upward trend getting into its fifth positive week after 4 positive weekly closings in a row. AUD/USD traders are expected to keep a very close eye on important financial data release figures scheduled for today’s session coming from United States and Australia. The pair started today’s early Asian trading session at a level of 0.9379. Since then, the pair seems to be on a steady uptrend momentum after reaching the 0.9405 level.
Although the pair has lost some momentum since then and is currently trading at a level of 0.9399, it seems to be on the verge of breaching above the 0.9400 and will continue progressing from there. Our signals suggest that until the end of the day, the pair is estimated to continue with it’s upward momentum. Our titantrade trading experts believe that current market conditions are more than likely favorable of an up trend until the end of the day.
Key Support Levels at: 1325.41/1324.54/1323.95
Key Resistance Levels at: 1326.87/1327.46/1328.33
Gold prices continue to climb, approaching the $1,330.00 level
Gold prices are continuing to climb with positive uptrend momentum. Gold is currently being traded at a level of 1326.19. The commodity has been on a steady positive momentum since the beginning of last week following last week’s impressive recovery. Gold had already reached a high level of 1329.33. titantrade trading analysts indicate that Gold, depends on market movements, can continue to climb all the way above the 1327.00 level by the end of today’s trading session, breaching its first resistance level currently targeted at 1326.87.
Gold is not scheduled to be effected from any catalysts during today’s session. There are no important data release figures scheduled for today that might have some sort of effect on the precious commodity. From a technical perspective, our analysts estimate that current market conditions favor a possible uptrend in Gold until the end of the day. Up