FX.co ★ Trading plan for 13/04/2018

The sentiment on the markets is better now, and the lack of information about the escalation of conflicts on the subject of a trade war or Syria is helping. The risk appetite is used mainly by AUD, and the defensive is JPY and SEK. Nikkei is higher, but the Shanghai stock exchange is down, as China's foreign trade data weakened. Oil drifts sideways.

On Friday 13th of April, the event calendar is light in important data releases, but the global investors should keep an eye on German Final CPI data, Eurozone Trade Balance data and Preliminary UoM Consumer Sentiment data from the US.

SP500 analysis for 13/04/2018:

US secretary of defense Mattis said the US did not intend to participate in the civil war in Syria, while President Trump said that the US is making progress in trade negotiations with China. This allowed for the relief of nerves among investors and promotes the appetite for risk.

In the Friday's calendar, there is no significant macroeconomic data, which could largely start the exchange rate of the most important currencies. However, traders should be vigilant around 12:00-13:00, because then Donald Trump wakes up in social media, and as you know, the market is vulnerable to the Tweets of the US President.

Let's now take a look at the SP500 technical picture at the H4 time frame. The market has tested the technical resistance at the level of 266.81 and got back to the intraday consolidation. The gap down between the levels of 268.89 - 270.30 is still not filled despite a quite strong upward momentum. The nearest intraday support is seen at the level of 264.95 and only a clear breakout lower would open the road towards the next technical support at the level of 262.92.