What is Forex Analysis?

Forex analysis is the study of determining whether to buy, sell or wait to trade a currency pair. Currencies traded in pairs, with exchange rates based on the price of one currency relative to another, for example USDEUR = USD Vs Euro

SUMMARY

  • The USDolar continued its rebound rally in early Asian trade Monday, due to the sharp rise in the U.S. yields and hopes on stimulus to boost the economy prompted some investors to dampen bearish bets, pulling the currency further from recent multi-year lows
  • US President-elect Joe Biden, who takes office on January 20 with Democrats able to control both houses of Congress, has pledged “trillions” in extra aid spending to prevent and escape the pandemic
  • It has driven the U.S. 10-year benchmark. debt is up more than 20 basis points to 1.1187% this year, which helped the dollar to a one-month high of 104.095 yen in early Asia Monday as better interest rates pause some dollar selloff
  • The USD weakness narrative and broad passion for emerging markets have been challenged in the early sessions of the year more than we expected, which could lead to a rethinking of trade consensus, at least until next week, analysts predict

Market EURUSD Analysis

Only the Euro until the early Asian session reached the 61% fibo daily chart area (1.2168) if daily closing below that area, the weakening of the Euro returns to the 1.2144 signal target, otherwise the 1.2224 area signals a return to a bullish trend, if it breaks and closes above that area then Euro weakness stuck. Buy levels : 1.2112-1.2145 Cutloss : 1.2081, Sell levels : 1.2185-1.2222 Cutloss : 1.2262

Strong Support : 1.2144
Strong Resistance : 1.2236

Market GBPUSD Analysis

The 1.3505 area is a further signal for the pound to weaken, break and close below the 1.3480 target area to the 1.3444 area (50% fibo daily), on the other hand, the 1.3544 area (MA5 & 15) is a signal of strengthening Pound, breaks and closes above the area, the target is the 1.3580 area. Buy levels : 1.3425-1.3444 Cutloss : 1.3395, Sell levels : 1.3510-1.3555 Cutloss : 1.3597

Strong Support : 1.3500
Strong Resistance : 1.3580

Market AUDUSD Analysis

The 0.7686 (MA15) area is a signal for the Aussie to weaken, break through and close below that area, target the 0.7655 area, on the other hand, the 0.7730 area is a signal for the Aussie to strengthen, break and close above that area, target the 0.7777 area. Buy levels : 0.7636-0.7666 Cutloss : 0.7585, Sell levels : 0.7710-0.7747 Cutloss : 0.7788

Strong Support : 0.7686
Strong Resistance : 0.7753

Market USDJPY Analysis

The 104.02 area is a signal for further strengthening of the Yen, breaks and closes below the area, the target is to the 103.80 area, on the other hand, the 104.21 area is a signal for the weakening of the Yen, breaks and closes above the area, the target of 104.30. Buy levels : 103.85-104.14 Cutloss : 103.50, Sell levels : 104.20-104.44 Cutloss : 104.60

Strong Support : 103.79
Strong Resistance : 104.30

Market USDCHF Analysis

The 0.8883 area signals that the Swiss Franc is weakening, breaks and closes above the 0.8888 target to the 0.8905 area, on the other hand the 0.8795 area signals the Swiss Franc to strengthen and close below 0.8867 (MA25) target to the 0.8834 area. Buy levels : 0.8857-0.8877 Cutloss : 0.8818, Sell levels : 0.8890-0.8920 Cutloss : 0.8958

Strong Support : 0.8850
Strong Resistance : 0.8905

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The rate and other information rendered herein by education & analysis PT Soegee Futures has been obtained from sources we believe reliable, but we can’t represent that they are complete and accurate. We are not responsible to any offer to sell or solicitation of an offer to purchase base on the rate and information contained 
 

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