4.8 The material is thin and lacks dynamic motion

This article is not intended to indicate or recommend trading timing.

Please make your own investment decisions.

Overall market conditions are thin, and at the beginning of the year the main moves have been positions adjustments against the uptrend in the currency market, so the early April period remains a phase of consolidation.

Overall, the rate shows stocks gradually declining, the currency market moving toward yen strength and dollar strength, giving a risk-off atmosphere, but this cannot be said to be driven by changes in fundamentals such as reconstituting new hedges or adjusting portfolios; it should be viewed as a “consolidation phase.”

The euro-dollar has continued to rise against the pound and the dollar and has remained on a solid trajectory so far, but it has failed to break above 1.1915 and is moving back toward the initial level.

With the FOMC minutes approaching, the position adjustments may have triggered a rebound, but the minutes themselves provide no clues and are unlikely to move the market significantly.

As with previous articles on euro-dollar, we see the chart forming a right shoulder in a daily three-corner formation, and the scenario is likely to wait for a period when selling positions near the highs accumulate.