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 dollar rose slightly in the Monday morning trading session in Asia, maintaining the gains seen at the end of the previous week, as investors turned to safe-haven assets amid disappointing US economic data and a rising number of COVID-19 cases
  • The release of President-elect Joe Biden’s $ 1.9 trillion stimulus details for the day failed to provide additional support to the greenback
  • The euro, which saw an early surge in the 2021 session, has slipped more than 2% and touched a six-week session low as COVID-19 continues to rise and Italy’s political crisis cast doubt on the region’s economic recovery
  • Meanwhile, the market is also digesting the US economic data released on Friday. The data showed that core retail sales contracted 1.4% month-on-month in December, larger than the 0.1% contraction forecasted and the 1.3% contraction recorded in November. The Producer Price Index (PPI) grew 0.3% month-on-month in December, while retail sales contracted 0.7% month-on-month in December

Market EURUSD Analysis

When viewed on the daily chart, the 50% fibo (1.2073) area is a signal of continued weakening of the Euro, if it breaks and there is daily closing below the 1.2073 area then the USD will continue its rebound, on the other hand the 1.2103 (MA5) area will signal a weakening of the Euro if any closing above the 1.2160 area (MA15 & 25) then there is a signal of a trend change. Buy levels : 1.2000-1.2020 Cutloss : 1.1972, Sell levels : 1.2075-1.2111 Cutloss : 1.2141

Strong Support : 1.2057
Strong Resistance : 1.2160

Market GBPUSD Analysis

The 1.3582 (MA100) area becomes a further signal for the Pound to strengthen, break and close above the 1.3611 (MA15 & 25) area target to the 1.3666 area, on the contrary the 1.3607 (MA25) area is a signal of pound weakness, breaks and closes below the 1.3555 (MA125) area target to the area of 1.3505. Buy levels : 1.3505-1.3535 Cutloss : 1.3470, Sell levels : 1.3570-1.3608 Cutloss : 1.3636

Strong Support : 1.3548
Strong Resistance : 1.3611

Market AUDUSD Analysis

The 0.7698 (MA100) area is a further signal for the Aussie to break and close above the 0.7719 (MA15) area, target to the 0.7726 (MA25) area, on the other hand, the 0.7674 (MA125) area signals the weakening of the Aussie to break and close below that area, target the 0.7640 area. Buy levels : 0.7615-0.7640 Cutloss : 0.7586, Sell levels : 0.7690-0.7730 Cutloss : 0.7765

Strong Support : 0.7640
Strong Resistance : 0.7719

Market USDJPY Analysis

The 103.52 (MA125) area is a signal for further strengthening of the Yen, breaks and closes below the area, the target is to the 103.13 area, on the other hand the 103.83 area (MA5,15 & 25) is a signal for the weakening of the Yen, breaks and closes above the 103.94 area, targeting 104.34. Buy levels : 103.43-103.73 Cutloss : 102.80, Sell levels : 103.98-104.34 Cutloss : 104.64

Strong Support : 103.52
Strong Resistance : 103.94

Market USDCHF Analysis

The 0.8923 area signals that the Swiss Franc is weakening, breaks and closes above 0.8963 target to the 0.8989 area, on the other hand the 0.8899 (MA5) area signals the Swiss Franc to strengthen and close below 0.8877 (MA15 & 25) target to the 0.8838 area. Buy levels : 0.8818-0.8838 Cutloss : 0.8778, Sell levels : 0.8885-0.8918 Cutloss : 0.8948

Strong Support : 0.8877
Strong Resistance : 0.8923

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

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