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 advance against most major currencies in the early Asian trading session on Thursday, tumbling stock markets as concerns about overvaluation boosted demand for the safe-haven USD
  • Concerns about short-term pressure on hedge funds, concerns about corporate earnings and delays in coronavirus vaccinations have put the brakes on a global stock rally, which could continue to lift the dollar in the short term
  • The US Federal Reserve maintains monetary policy, as analysts had expected on Wednesday, but signaled some concerns about the pace of economic recovery, which some traders said was another negative factor

Market EURUSD Analysis

The 1.207 area is a signal for further strengthening of the Euro, breaks and closes above the 1.2129 (MA29) area target to the 1.2183 area, on the other hand the 1.2081 area is a signal of strengthening USD against the Euro, breaks there are closing below the 1.2064 area target to the 1.2020 area. Buy levels : 1.2050-1.2075 Cutloss : 1.2020, Sell levels : 1.2090-1.2132 Cutloss : 1.2162

Strong Support : 1.2064
Strong Resistance : 1.2122

Market GBPUSD Analysis

The 1.3687 area (MA15 & 25) is a further signal for the pound to strengthen, break and close above the 1.3700 area, the target to the 1.3725 area, on the other hand, the 1.3665 area is a signal for pound weakening, breaks and closes below the 1.3630 area target to the 1.3595 area. Buy levels : 1.3616-1.3586 Cutloss : 1.3555, Sell levels : 1.3675-1.3707 Cutloss : 1.3745

Strong Support : 1.3630
Strong Resistance : 1.3666

Market AUDUSD Analysis

The 0.7701 (MA15) area is a further signal for the Aussie to break and close above the 0.7733 area, target to the 0.7787 area, otherwise the 0.7597 area signals the weakening of the Aussie to break and close below that area, target the 0.7533 area. Buy levels : 0.7530-0.7566 Cutloss : 0.7494, Sell levels : 0.7645-0.7690 Cutloss : 0.7728

Strong Support : 0.7600
Strong Resistance : 0.7681

Market USDJPY Analysis

The 104.12 area is a signal for further strengthening of the Yen, breaks and closes below the 103.99 target area to the 103.66 area, conversely the 104.25 area (MA100) is a signal for the weakening of the Yen, breaks and closes above the area, the target of 104.50. Buy levels : 103.93-104.20 Cutloss : 103.63, Sell levels : 104.44-104.74 Cutloss : 104.99

Strong Support : 103.76
Strong Resistance : 104.44

Market USDCHF Analysis

The 0.8902 area signals that the Swiss Franc is weakening, breaks and closes above 0.8915, the target is to the 0.8940 area, on the other hand the 0.8881 area signals the Swiss Franc to strengthen and close below 0.8871 (MA100), target to the 0.8844 area. Buy levels : 0.8870-0.8898 Cutloss : 0.8832, Sell levels : 0.8920-0.8958 Cutloss : 0.8989

Strong Support : 0.8893
Strong Resistance :  0.8925

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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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