Daily market review 25 april

Today news background will be very weak, trade activity can go down therefore. The only news that must be taken into account is a report on a consumer confidence in the USA.
17: 00 *** CB Consumer Confidence – April (USA)
I will Remind, that this index sharply increased in March, therefore forecast his decline in April it is difficult to name a negative factor for USD. As a result, only the higher rates of decline can take on the substantial rebound on USD, while further height or even more slow decline, will assist strengthening of American currency.
17: 00 ** New Home Sales is March (USA)
According to experts opinion, the volumes of sales of accommodation can grow short on 1.4%, after a height of 6.1% the day before. Confirmation of this prognosis is positive for USD. But unexpectedly the high rates of reduction of this index can take on the rebound on a dollar in a short-term period. The marked indicators will be published at one time, it is important to take into account their values in total.
For euro nothing changes – we assume an additional jump upwards! It’s too early to sell. The basic height of pair happened already. Technically ahead there are new tops, that is why to their achievement we recommend to retain purchases (who bought), or, at least, not to open a sale.
For today we would not trade JPY, same as yesterday decided not to touch GBP. Support 109,50 was not taken downward, updating of a maximum of a current week did not happen. We will save an idea to give priority to short positions for now. However, we don’t see a reason to open new transactions.
Yesterday we confirmed an idea medium-term, so we are still waiting for the height of GBPUSD in a district 1,3000-1,3200. And for today it is needed to pay attention for a possibility of trade intraday. So, on sentinel charts, there is a beautiful technical lateral corridor in size of 60 points, that began forming from 19.04.2017. Support level is 1,2770, and resistance level is 1,2830. Classic trading in a corridor can be conducted on retreatment from resistance/support with the purpose of profit on the middle of the channel, and then to the opposite side. In case of a breakout, we should aim for approximately 60 pips (the width of a corridor).
In Australia we have an official bank holiday, that is why on the Asian session the range of trades did not exceed 20 points. In a prospect to the end of the day, probably, we should not wait for unambiguous purchases or sales. The Exit downwards from the cloud of Ichimoku on a daily chart would support our idea of sales, however, for now, we can’t say that we should open sell positions yet.

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