Kickstart the April 8 trading week w/ a technical look at the major currency pairs.
The trading week of April 8 is set to kick off with a focus on the major currency pairs. Traders will be keeping a close eye on the technical indicators and price action of these pairs to determine potential trading opportunities.
The EUR/USD pair is likely to be in focus as traders look for any signs of a breakout from its recent range. The pair has been trading within a tight range for the past few weeks, and traders will be looking for any signs of a breakout to capitalize on potential price movements.
The GBP/USD pair is also expected to attract attention as traders monitor the ongoing Brexit developments. Any progress or setbacks in the Brexit negotiations could lead to significant price movements in the pair.
The USD/JPY pair is another major currency pair to watch as traders assess the impact of global economic developments on the Japanese yen. Any shifts in risk sentiment or economic data could lead to volatility in the pair.
Overall, traders will be closely monitoring the technical outlook of these major currency pairs as they look for potential trading opportunities in the week ahead. Keep an eye on key support and resistance levels, as well as any potential breakout opportunities.