short

go to the support in 110

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slowly go to the support

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On Wednesday we are waiting for the ADP Non-Farm Employment Change report. According to the ADP report companies added a hefty jobs gain of 298,000 in February, Economists expected an increase of 184,000. These results preceded the Non-Farm Payrolls report, with the healthy 235,000 gain, paving the way for the Fed’s recent rate hike.The ADP report is expected to show a 191,000 jobs gain in March.We in Ruzey invest believe that the prediction could meet the published data and we would recommend short positions on the usd traded pairs.We do not expect great movement ,so It would be a good idea to combine our technical analysis with the fundamental for this report.

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US ISM Non-Manufacturing PMI: Wednesday, 14:00. US service sector expanded in February, climbing to 57.6 from 56.5 in January.The expectations for March are for a reduction to 57.1.We have mixed feelings about this prediction,but if we look at the US ISM Manufacturing PMI,we could see that it is expected to fall to 57.2 which is very close to the US ISM Non-Manufacturing PMI prediction.Our trade idea is ,wait for the manufacturing PMI data,if the published data is like the predicted ,then you can expect the non-manufacturing PMI data to meet the expecatations.Our advice is to open short positions on the major usd traded pairs.

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US FOMC Meeting Minutes: Wednesday, 18:00. Minutes from the Fed’s rate hike meeting in March will be released in April, providing an in-depth account on the reasons behind the 0.25 percentage point rate rise. Yellen said, in the press conference following the meeting that the economy is doing well and that policymakers are confident in the robustness of the economy. The minutes will also include the Fed’s outlook regarding further rate hikes this year.The most important moment from this report are the opinions for a future rate hike.The March hike was expected and didn’t give the greenback the support it needed to break key resistance levels.In addition in the end of last year a big proportion of the FOMC members announced that there will be at least 3 rate hikes.Last month a couple of the FOMC members changed their position and said that there will be maximum 3 rate hikes.Our team is waiting to see if Fed’s Janet Yellen has changed her position about the number of rate hikes.We recommend waiting for the report and if Yellen and the other FOMC members unite around the idea for 3 or less rate hikes,be ready to open short positions.On the other hand if they stay on the same positions for 3 rate hikes or more,I recommend following our tech analys.

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US Unemployment Claims: Thursday, 12:30. The number of Americans filing new claims for unemployment benefits declined by 3,000 for the week ended March 25, suggesting some loss of momentum in the robust labor market. The 258,000 new claims registered were higher than the expected 240,000 increase but the number of claims remained below the 300,000 level associated with a healthy labor market.The expectations for this week are for a reduction to 251K from 258K.The difference is not big but it shows us that the US economy is stable for the moment and that the labor markets are working close to full employment .If the predictions meet the published data we can expect from the dollar to stay on the same level or gain 200-300 pips.

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20-30 pips *

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go short and take a profit 109.00

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Go short ,the candle closed perfectly for short positons.( usd/jpy is trading for around 110.860)

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Minutes of the Fed's discussion at their March meeting released Wednesday showed near-unanimous support for the quarter-point increase in its key policy rate, the second rate hike in three months. But there was less agreement over the issues of inflation and Trump's economic plans.

The group decided to keep signaling that future rate hikes would be gradual but be prepared to respond quickly to changes in the economic outlook. Many analysts believe the Fed will hold rates steady at the May meeting.

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