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Daily analytical report (04/05/17)

  • FOMC was perceived to be hawkish yesterday. USD is much stronger across the globe and the chances of a rate hike in June are above 90%.
  • EURUSD felt that yesterday but the downswing was stopped because of the debate between Macron and Le Pen. It is said that Macron won the debate and that is why EUR became stronger. I don't know if you remember, but after Trump vs. Clinton, we had the same situation and we all know what the final outcome was.
  • USDJPY has broken the upper line of the flag, which is bullish. Not much to add here, technical analysis says it all.
  • Silver is about to test the long-term upwards trend line (weekly chart). This is the last chance for buyers to keep the positive sentiment alive. The situation is very bad and all they can pray for is some take profit action in the sellers camp.
  • Gold is also getting hammered. We broke an upwards trend line on a daily chart and denied the bullish flag. All that is negative and denies the positive sentiment (if there was any left).

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