Trade ideas thread - European session 8 April 2021
Daily thread to exchange ideas and to share your thoughtsThe dollar is slightly softer to start the day after having held steadier in trading yesterday as the push and pull this week continues.
The market continues its search for further direction with equities not offering a lot to work with, keeping rather tepid and flattish. Meanwhile, Treasury yields are keeping steadier after the pullback at the start of the week.
EUR/USD continues to be limited closer to its 200-day moving average @ 1.1882 for now, with overnight gains failing to hold above 1.1900 before falling at the end.
Commodity currencies are also having a relatively mixed week with AUD/USD bouncing off support close to 0.7600 again but any upside momentum remains wanting.
USD/CAD continues to stick closer to 1.2600 with large expiries seen rolling off at the figure level tomorrow, with topside limited by resistance around 1.2629-47 for now.
It's pretty much a slow one this week as we await more clues in the market.
On an unrelated note, we're having technical issues so expect some delays to the posts in the session ahead. Please bear with us and I apologise for the inconvenience caused.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.