Date: 4th April 2021
Table of Contents:
EURUSD Analysis for next week
Covid 19 Update
Silver Analysis for next week
News Analysis for next week
Welcome Dear Mate
Good afternoon. Hope everybody is safe and sound. I am starting today's journal update wishing everyone well at the beginning. Mt5 Forex Forum has created a heartfelt friendship with all the members, may this bond remain intact. Today is the second day of the weekly closure. The market will open again in a few hours. The market was closed on the occasion of Star Sunday last Friday. There was high impact news on the USD Index that day, we may see the effect of that news on the first day of the week. In fact, if the market is closed I feel incomplete in some cases. See you in full time again. Today I will analyze next week's market movement forecast with EURUSD, Silver pair.
As you all know, Bitcoin is open seven days a week, even though all pairs are closed on Fridays and Saturdays. I open a trade on Bitcoin today at 57530.80 with 0.02 lots. That trade is still at 13 USD profit. Trying to pull it back after a long downtrend movement. Which started from 59401.81 and moved up to 56492.00.
EURUSD Forcust for next week
I am analyzing the EURUSD pair in a four-hour timeframe. The current EURUSD price is 1.1761. From 22nd March, the price of EURUSD moves in a downward trend from 1.1946 to 1.1706. The EURUSD price fell sharply as the USD index rose abnormally during that time. Finally trying to pull it off. It is expected that as there is enough news in the USD index in the coming week, it will move upwards very fast and move upwards. That is why it is mandatory to follow the index and follow the market analysis before trading. Otherwise, you will have to face loss.
In this case, my first support is 1.17366 a strong support line. If this line can be broken it can go up to 1.16935, the third support is 1.16498 next week if the USD Index is weak next week it can torch up the first resistance 1.18009 and the second resistance 1.18346, and the third resistance 1.18698. If you want to make a profit, you must trade following the news calendar.
Covid-19 Current Situation
Today is April 4, 2021. Over time, the whole world has been plagued by the problem of coronavirus. To date, the total number of infected people in the world is 131,472,605, the number of deaths is 2,861,137, and the number of recoveries is 105,885,773. The number of infected people is increasing from the past to the present. The total number of infected people in Bangladesh to date is 630,277, the number of deaths is 9,213 and the number of recoveries is 549,775. We had 5,683 deaths and 58 deaths in Bangladesh yesterday. There is still time. Follow the rules. Stay healthy. This is the wish.
XAGUSD (Silver) Analysis for next week
The current price of Silver is 24.910. The Bears downward movement started on the 22nd of this month and later it lasted till 23.770. Finally, on March 31, it pulled back and made an upward movement. In addition, the impact of the lockdown in different countries can fall on the silver. We have already seen how the Coronavirus outbreak last year affected the price of silver and gold, as well as different types of pairs. The present time and may have some partial effect. If you look at the market movement on the last day of last week, you can see that the market was at a high of 24.935 on that day and we saw an upward movement from the low of 24.205. Silver's current price is 24.910 and the ADX indicator is still indicating movement in the upper trend.
1st Support: 23,770
2nd Support: 22.948
1st Resistance: 25,177
2nd Residence: 26,308
News Analysis for next week
The Economic News Calendar has enough Impact News on the Forex Calendar from 5th April to 9th April. The indexes that have high impact level news are given below-
The USD Index has eight High impacts, nineteen Med impacts, and twenty-five Low Impact news.
The GBP Index has news related to a High impact, five Med impacts, and seven Low Impacts.
The EUR Index has a high impact, six Med Impact, and eight Low Impact related news.
The JPY Index contains seven Low Impact related news.
The CAD Index has two High impacts, one Med Impact, and one Low Impact related news.
The AUD Index has news related to a High impact, four Med Impact, and two Low Impact.
Among them are some High Impact related news of USD & GBP: -
Manufacturing production (MoM) (Feb)
Core CPI (MoM) (Mar)
Core Retail Sales (MoM) (Mar)
Philadelphia (Feb) Manufacturing Index (Apr)
Retails Sales (MoM) (Mar)
CPI (YoY) (Mar)
Building Permits (Mar)
[Note: As a result of all this High Impact News, you have to think carefully before making a trade decision. If you want to make a profit, you have to face a loss. I think all the news will have a significant impact on the market movement next week].