{"id":146265,"date":"2019-04-22T10:45:19","date_gmt":"2019-04-22T14:45:19","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=146265"},"modified":"2019-04-22T10:22:44","modified_gmt":"2019-04-22T14:22:44","slug":"hard-to-decipher-any-meaningful-moves-amid-low-liquidity","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/04\/hard-to-decipher-any-meaningful-moves-amid-low-liquidity\/","title":{"rendered":"Hard To Decipher Any Meaningful Moves Amid Low Liquidity"},"content":{"rendered":"
April 22, 2019<\/div>
\r\n<\/div><\/div>

By <\/strong>Orbex<\/strong><\/a><\/p>\n

Loonie Bid as US Drops Sanction Waivers<\/strong><\/h2>\n

The most volatile pair for Easter Monday,\u00a0USDCAD, fell 30 pips<\/strong>\u00a0from its daily open at $1.3380. This came after a news article from The Washington Post said that the US will announce the\u00a0end of sanction waivers <\/a>on Iranian oil.<\/p>\n

The Canadian\u00a0dollar could end up being the best performer for the day thanks to the oil rally. At the time of writing, the price of USDCAD is softening down to last Thursday\u2019s open.<\/p>\n

Dollar Lower Ahead of US Open<\/strong><\/h2>\n

The US dollar started the week off on somewhat weak footing, the US Index shows. But note that none of today\u2019s moves provide any meaningful information on dollar sentiment as\u00a0markets lack liquidity<\/strong>\u00a0around holiday trading.<\/p>\n

With a relatively light calendar and US markets (except US Existing Home Sales), the index could end the session mixed, and even\u00a0with a negative tone below 97<\/strong>.<\/p>\n

Euro Bulls Take Advantage of Thin Liquidity<\/strong><\/h2>\n

The European session is rather slow this afternoon with market participants taking advantage of thin liquidity levels.\u00a0EURUSD trades above its daily low at $1.1230<\/strong>\u00a0and closer to the $1.1250 psychological barrier on its latest attempt to recover some of last Thursday\u2019s steep losses.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

EURUSD declined over 60 pips last week on the back of poor PMIs.It also bounced off at the $1.12 psychological support, which seems to hold firm.<\/p>\n

Risk Down, Safety Up<\/strong><\/h2>\n

Despite oil and loonie are heading higher and the US dollar lower,\u00a0Aussie and Kiwi are lagging<\/strong>\u00a0considering the geopolitical news. In fact, they trade inversely when one would expect to see the commodity bloc currencies move alongside crude.<\/p>\n

AUDUSD continues to correct<\/strong>\u00a0from last week\u2019s rejection at 72c. Meanwhile, NZDUSD flirts with last week\u2019s lows near 0.6665 while no micro-flows weigh down both pairs.<\/p>\n

Gold, on the other hand, heads towards a potential\u00a0retest level at $1282<\/strong>, but still a few dollars below. The rejection at the said level could revalidate the bearish sentiment.<\/p>\n

Equities End Winning Streak But Look Bid<\/strong><\/h2>\n

From Thursday onwards the S&P500 traded mixed. Volatility was low, and volumes didn\u2019t do much as they were limited. The end to the 3-week streak formed an\u00a0indecision candle<\/strong>\u00a0on the weekly timeframe and now markets could correct provided both 2895 and 2887 give in to bearish pressures.<\/p>\n

A correction from this point forward could\u00a0validate the head and shoulders<\/strong>\u00a0pattern we waited for. Then, prices could reach fresh all-time highs.<\/p>\n

Despite an attempt to reclaim a new record, mixed earnings results and the Easter holiday wrapped up trading activity. We expect to see more from tomorrow, Tuesday, onwards.<\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex Loonie Bid as US Drops Sanction Waivers The most volatile pair for Easter Monday,\u00a0USDCAD, fell 30 pips\u00a0from its daily open at $1.3380. This came after a news article from The Washington Post said that the US will announce the\u00a0end of sanction waivers on Iranian oil. The Canadian\u00a0dollar could end up being the best […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-146265","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=146265"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146265\/revisions"}],"predecessor-version":[{"id":146268,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146265\/revisions\/146268"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=146265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=146265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=146265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}