Trade ideas thread – European session 5 April 2023 | Forexlive
It’s an exciting start to April trading so far as things are heating up ahead of the US jobs report on Friday. We got the oil jump from the weekend and that is seeing WTI crude hold above $80 for now, in search of a higher breakout. Then, we got some good action yesterday and today:
- GBP/USD angling for a firm break above 1.2500, moving up to its highest levels since June last year
- EUR/USD moving closer towards its February highs near 1.1000
- Gold firmly breaching the $2,000 mark and hoping for a stronger breakout
- 10-year Treasury yields running back near the lows for the year close to 3.30%
- CAD/JPY being rejected by the 100-day moving average near 99.00
- NZD/USD at its highest levels since February, shaking off its 100-day moving average above 0.6300
Those are some of the more notable moves so far this week. The overall mood remains more tentative for now so we’ll have to see what the appetite is like for traders to continue the moves above and/or if we are going to see a pullback instead before the US non-farm payrolls data.
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