Target Thursdays: EURJPY, USDCHF & XAUUSD reach targets!

Check out these potential profits that you may have missed from our Daily Market Analysis.

• EURJPY bulls take home 84 pips

• USDCHF secures all bullish targets

• XAUUSD hits 2nd profit level

 

    1) EURJPY up over 200 pips this week

• Where and when was Target Price (TP) published?

As discussed in our mid-week technical outlook on Wednesday, April 3rd:

“Focusing on the technical picture, a possible near-term level where EURJPY bulls may expect some resistance before reaching the 165.335 price target is 164.208.” 

 

• What happened since TP was published?

The EURJPY rallied over 100 pips on Wednesday, as the Japanese Yen weakened across the G10 space.

 

• How much in potential profits?

Traders who took advantage of the breakout above the 161.8 Fibonacci level at 163.368 and exited at 164.208 would have been rewarded with 84 pips!

 

    2) USDCHF blasts past all bullish targets

• Where and when was Target Price (TP) published?

This technical scenario (USDCHF) is based on the FXTM Signals that are posted twice a day (before the London and New York sessions) for all FXTM clients to follow.

It can be found in the MyFXTM profile under Trading Services... FXTM Trading Signals.

 

• What happened since TP was published?

The USDCHF jumped this morning after Switzerland’s inflation report surprised to the downside in March.

This report has reinforced expectations around the Swiss National Bank (SNB) cutting interest rates once again in June, weakening the Swiss franc as a result.  

 

• How much in potential profits?

USDCHF has hit all its profit targets.

Traders who entered at 0.90356 and exited at the final target level of 0.90516 would have gained 16 pips.

 

    3) XAUUSD hits second bearish level    

• Where and when was Target Price (TP) published?

This technical scenario (XAUUSD) is based on the FXTM Signals that are posted twice a day (before the London and New York sessions) for all FXTM clients to follow.

It can be found in the MyFXTM profile under Trading Services... FXTM Trading Signals.

 

• What happened since TP was published?

After kissing a fresh all-time high during the early sessions of Thursday, gold seems to be experiencing a technical throwback on the M30 timeframe as bulls take a breather.

Note: The precious extended gains on Wednesday thanks to dovish comments from Fed Chair Jerome Powell. More volatility could be on the cards for gold due to Fed speeches and the highly anticipated US jobs report on Friday.

 

• How much in potential profits?

Gold has hit the second take-profit level.

This is equivalent to a 523-point move from the entry price of $2296.25.

 

Gold USDCHF SNB eurjpy Technical Analysis