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 held off losses against most major peers on Thursday on optimism that a massive US stimulus package under Joe Biden’s new administration will boost demand growth for the safe-haven currency
  • Risk commodity currencies rose after US stocks rose to new records overnight as Biden, who had drawn up plans for a $ 1.9 trillion pandemic relief package, was sworn in as President
  • The central banks of Japan and Europe decide on their continued fiscal and monetary policies this Thursday, and the market expects no change in their policies
  • “The current risk sentiment in currency markets is quite positive at the moment and markets continue to expect it to remain so throughout this year, with global economic growth expected to recover quite strongly,” Barclays Capital senior currency strategist Shinichiro Kadota said in an interview with Reuters

Market EURUSD Analysis

The 1.2137 area is a further signal of the strengthening of the Euro, breaks and closes above the 1.2156 target area to the 1.2199 area (MA100 & 125), on the other hand the 1.2120 area (MA5,15 & 25) is a signal of strengthening USD against the Euro, breaks there are closing below the 1.2092 area target to the 1.2060 area. Buy levels : 1.2101-1.2130 Cutloss : 1.2072, Sell levels : 1.2161-1.2199 Cutloss : 1.2232

Strong Support : 1.2092
Strong Resistance : 1.2156

Market GBPUSD Analysis

The 1.3717 area becomes a further signal for the pound to strengthen, break and close above the 1.3727 area, the target to the 1.3777 area, on the other hand, the 1.3677 (MA5) area is a signal for pound weakening, breaks and closes below the 1.3648 (MA15) area. Buy levels : 1.3655-1.3685 Cutloss : 1.3615, Sell levels : 1.3720-1.3768 Cutloss : 1.3795

Strong Support : 1.3677
Strong Resistance : 1.3717

Market AUDUSD Analysis

The 0.7784 area is a further signal for the strengthening of the Aussie to break and close above the 0.7808 target to the 0.7866 area, on the other hand, the 0.7734 (MA15) area signals the weakening of the Aussie to break and close below the 0.7722 (MA100) area, target to the 07666 area. Buy levels. Buy levels : 0.7636-0.7666 Cutloss : 0.7606, Sell levels : 0.7757-0.7784 Cutloss : 0.7828

Strong Support : 0.7628
Strong Resistance : 0.7784

Market USDJPY Analysis

The 103.27 area is a signal for further strengthening of the Yen, breaks and closes below the 103.09 target area to the 102.80 area, conversely the 103.58 area (MA100 & 125) is a signal for the weakening of the Yen, breaks and closes above the 103.72 area, targeting 103.99. Buy levels : 103.23-103.45 Cutloss : 102.83, Sell levels : 104.04-104.34 Cutloss : 104.64

Strong Support : 103.27
Strong Resistance : 103.58

Market USDCHF Analysis

The 0.8889 area (MA15 & 25) signals that the Swiss Franc weakens, breaks and closes above 0.8900 target to the 0.8959 area, conversely the 0.8876 area is a signal that the Swiss Franc strengthens and closes below 0.8856 (MA100) target to the 0.8827 area. Buy levels : 0.8845-0.8888 Cutloss : 0.8817, Sell levels : 0.8907-0.8938 Cutloss : 0.8978

Strong Support : 0.8861
Strong Resistance : 0.8899

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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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